Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h +0.006%

Price spread now: QFEX against OKX−0.074%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.074%, 7d avg −0.053%

Together, before fees+0.001%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and QFEX is 0.022% cheaper against OKX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.053%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX COST-USDT-SWAP	899.67	0.0019	pay 0.0019% / 8h	4h 16m	$443K	$112K	10x
Short	QFEX COST-USD	899.00	0.0004	get 0.0001% / 1h	16m 29s	$1.1M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee QFEXbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$3.22
Price spread: −0.074% → −0.053%: −$2.15
Slippage, 4 orders: −$23.17
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$48.54
Costs to cover: 0.432%
Break-even: never at this rate

Slippage from OKX: live order book, 39 min ago; QFEX: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy OKX live order book, 39 min ago	6.17 bp	12.2 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	2.06 bp	7.9 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit

COST on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster COSTUSDT	0.0000%	8h	898.95	−0.080%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	899.26	−0.046%	$1.1M	$933K	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	898.94	−0.081%	$490K	$219K	25x	as long as short
Gate COST_USDT	0.0000%	8h	899.08	−0.066%	$520K	$7K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	899.22	−0.050%	$403K	$77K	25x	as long as short
Variational Omni COST	0.0000%	8h	898.96	−0.079%	$41K	$17K	—	as long as short
SunX COST-USDT	0.0000%	8h	898.40	−0.141%	$1K	$2.9M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.25	+0.064%	$10K	$42K	10x	as long as short
QFEX COST-USDshort	+0.0004%	1h	899.00	−0.074%	$1.1M	$2.6M	10x
OKX COST-USDT-SWAPlong	+0.0019%	8h	899.67	long leg	$443K	$112K	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.855%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.158%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	898.71	−0.107%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.91	−0.084%	$1.8M	$518K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.60	−0.119%	$47K	$880K	20x	as long as short