CYPH

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BingXNCSKCYPH2USD-USDT	3.2400	+0.0750	pay 0.0750% / 8h	4h 54m	$978K	$1.3M	—	Long BingX
SHORT	QFEXCYPH-USD	3.2500	+0.0006	get 0.0001% / 1h	54m 07s	$2.1M	$194K	10x	Short QFEX

Price gap+0.309%

Funding gap−0.0744% /8h

The gap pays +$11 on $10k if it goes back to its 7d average, but funding costs $22 a day and eats that in about 12 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$111−0.0744% /8h now · paid −1.111% over the last 7D

Price+$11spread +0.309% now, avg +0.194% → +0.114% if it goes back

Costs−$2752.749% of $10k · taker + slippage, in and out

Result−$375−3.75%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · loading 5m…

Price spread

Prices

Fundingper 8h

P&L

PRICE SPREAD · 7D

Now+0.309%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

CYPH on 14 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

Watch: Thin at this size46.2 / 68.0 bp
At $10k entering QFEX costs 68.0 bp, fee and slippage, 1.5× BingX’s.
Note: Margin at max leverage— + $1,000
BingX —, QFEX 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ8h / 1h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$22.32Long BingX: 3 payments, −$22.50; short QFEX: 24 payments, +$0.18.
OK: Entry gap works for you+0.309% vs +0.194%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Long leg is thinner$978K vs $2.1M OI
BingX sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCBingX Yes · QFEX No
Advanced KYC to deposit or trade; unverified accounts can only withdraw, up to 20,000 USDT a day. Rules vary by region.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0529%/8h × 21 periods−$111.14

Price spread+0.309% → +0.194% (7d avg)+$11.43

Slippage, 4 orderslive order books−$244.91

Fee BingX bp × 2 orders−$10.00

Fee QFEX bp × 2 orders−$20.00

Net · 7 days · $10k−$374.63

Costs to cover2.749%Break-evennever at this rate

Slippage: BingX: live order book, 12 min ago; QFEX: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGBingX13.8846.2 bp−$46265.5 bp−$2,655doesn’t fitdoesn’t fit

SELL · SHORTQFEX30.6768.0 bp−$6884.3 bp−$843doesn’t fitdoesn’t fit

Closing costs about the same again.

CYPH news

posts that mention CYPH, from every exchangeSearch all news →

09-23 09:29	OKX	Listing	new market CYPH-USDT-SWAP ($CYPH) seen by our collector
09-23 09:00	KuCoin	Listing	new market CYPHUSDTM ($CYPH) seen by our collector
09-22 13:38	Phemex	Listing	Seven new US stock perpetuals. 10x leverage. One important catch: they launched before Monday’s cash session. $AGPU, $AMC, $ANET, $APLD, $CYPH, $HUT and $PATH are now live on Phemex. No expiry. USDT margin. Funding every 8 hours. Trade the names. Respect the first prints. 👇🏻 @Phemex_official on X ↗
09-22 10:08	BloFin	Listing	new market CYPH-USDT ($CYPH) seen by our collector
09-22 09:54	BloFin	Listing	BloFin Futures will list the $PATH-USDT & $CYPH-USDT Perpetual Contracts 🔥 Trade and take advantage of: ✅ 0% Maker Fees ✅ 50% off Taker Fees @BloFin_Official on X ↗
09-22 06:52	edgeX	Listing	new market CYPHUSDC ($CYPH) seen by our collector