Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0046%/8h= −5.1% APRpaid last 24h −0.008%

Price spread now: Gate against QFEX−0.010%7-day average +0.028% · 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−$632as in the Price arb table

costs, in and out, $10k−$6286.278% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.010%, 7d avg +0.028%

Together, before fees+0.054%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.038% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX COST-USD	903.60	0.0046	pay 0.0006% / 1h	2m 27s	$1.1M	$2.4M	10x
Short	Gate COST_USDT	903.51	0	get 0.0000% / 8h	7h 02m	$523K	$9K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.010%Rate

Funding earned: −$9.69
Price spread: −0.010% → +0.028%: −$3.81
Slippage, 4 orders: −$602.83
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$641.33
Costs to cover: 6.278%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Gate: live order book, 28 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, 5 min ago	251.07 bp	256.1 bp −$256	258.4 bp −$2,584	doesn't fit	doesn't fit
Sell Gate live order book, 28 min ago	6.09 bp	34.5 bp −$35	doesn't fit	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	903.22	−0.042%	$45K	$133	20x	as long as short
Binance COSTUSDT	0.0000%	8h	903.72	+0.013%	$1.1M	$988K	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	903.14	−0.051%	$491K	$93K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	903.59	−0.001%	$441K	$120K	10x	as long as short
Gate COST_USDTshort	0.0000%	8h	903.51	−0.010%	$523K	$9K	25x
Bitget COSTUSDT	0.0000%	8h	903.29	−0.034%	$411K	$81K	25x	as long as short
Variational Omni COST	0.0000%	8h	903.55	−0.006%	$40K	$14K	—	as long as short
SunX COST-USDT	0.0000%	8h	903.10	−0.055%	$2K	$2.7M	10x	as long as short
HTX COST-USDT	0.0000%	8h	904.80	+0.133%	$10K	$42K	10x	as long as short
Injective COST/USDC PERP	+0.0033%	1h	891.98	−1.286%	$2K	$28K	12x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended COST-USD	+0.0040%	1h	902.17	−0.159%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	902.76	−0.093%	—	—	25x	as long as short
QFEX COST-USDlong	+0.0046%	1h	903.60	long leg	$1.1M	$2.4M	10x
KuCoin COSTUSDTM	+0.0100%	8h	902.30	−0.144%	$48K	$961K	20x	as long as short
tradeXYZ xyz:COST	+0.0134%	1h	902.90	−0.077%	$1.8M	$509K	20x	as long as short