Funding arb · Price arb /

COST

RWAall COST markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.007%

Price spread now: Bybit against QFEX+0.107%7-day average +0.003% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1371.372% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.107%, 7d avg +0.003%

Together, before fees−0.124%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.103% dearer against QFEX than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of +0.003%): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX COST-USD	899.76	0.0020	pay 0.0003% / 1h	8m 37s	$1.1M	$2.3M	10x
Short	Bybit COSTUSDT	900.72	0	get 0.0000% / 8h	4h 08m	$565K	$142K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now +0.107%Rate

Funding earned: −$4.2
Price spread: +0.107% → +0.003%: $10.34
Slippage, 4 orders: −$116.23
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$131.1
Costs to cover: 1.372%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; Bybit: live order book, 25 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 QFEX live order book, 2 min ago	1.45 bp	12.2 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 25 min ago	10.22 bp	96.4 bp −$96	232.4 bp −$2,324	doesn't fit	doesn't fit

COST on 15 exchanges

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	900.62	+0.095%	$45K	$133	20x	as long as short
Binance COSTUSDT	0.0000%	8h	899.91	+0.016%	$1.1M	$1.2M	20x	as long as short
Bybit COSTUSDTshort	0.0000%	8h	900.72	+0.107%	$565K	$142K	25x
OKX COST-USDT-SWAP	0.0000%	8h	900.44	+0.076%	$447K	$133K	10x	as long as short
Gate COST_USDT	0.0000%	8h	900.06	+0.033%	$521K	$9K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	899.94	+0.020%	$411K	$81K	25x	as long as short
Variational Omni COST	0.0000%	8h	900.23	+0.053%	$40K	$13K	—	as long as short
SunX COST-USDT	0.0000%	8h	899.20	−0.062%	$1K	$2.7M	10x	as long as short
HTX COST-USDT	0.0000%	8h	899.73	−0.003%	$10K	$40K	10x	as long as short
QFEX COST-USDlong	+0.0020%	1h	899.76	long leg	$1.1M	$2.3M	10x

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.865%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	899.75	−0.001%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	899.80	+0.004%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	899.62	−0.016%	$1.8M	$524K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	899.20	−0.062%	$48K	$1.1M	20x	as long as short