Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h −0.006%

Price spread now: OKX against QFEX+0.120%7-day average +0.053% · 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−$46as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on QFEX Short on OKX

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)−0.080%−$8 · spread now +0.120%, 7d avg +0.053%

Together, before fees−0.090%−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.067% dearer against QFEX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX COST-USD	898.71	0.0005	pay 0.0001% / 1h	30m 53s	$1.1M	$2.9M	10x
Short	OKX COST-USDT-SWAP	899.79	0	get 0.0000% / 8h	5h 30m	$447K	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$0.97
Price spread: +0.120% → +0.053%: $6.72
Slippage, 4 orders: −$32.79
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$47.04
Costs to cover: 0.528%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; OKX: live order book, 30 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, 7 min ago	1.56 bp	6.6 bp −$7	10.2 bp −$102	doesn't fit	doesn't fit
Sell OKX live order book, 30 min ago	4.39 bp	12.6 bp −$13	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	898.93	+0.024%	$45K	$178	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	898.86	+0.017%	$491K	$218K	25x	as long as short
OKX COST-USDT-SWAPshort	0.0000%	8h	899.79	+0.120%	$447K	$109K	10x
Gate COST_USDT	0.0000%	8h	899.03	+0.036%	$520K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	898.90	+0.021%	$403K	$102K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.40	−0.034%	$1K	$3.0M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.78	+0.230%	$10K	$42K	10x	as long as short
QFEX COST-USDlong	+0.0005%	1h	898.71	long leg	$1.1M	$2.9M	10x
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.749%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.051%	—	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest COST-USD-PERP	+0.0046%	1h	898.59	−0.013%	—	—	25x	as long as short
Variational Omni COST	+0.0050%	8h	898.76	+0.005%	$42K	$17K	—	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.64	−0.008%	$1.8M	$515K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	899.00	+0.032%	$47K	$871K	20x	as long as short
Binance COSTUSDT	+0.0165%	8h	898.94	+0.026%	$1.1M	$928K	20x	as long as short