Funding you earn now, next payment 11:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.001%
Price spread now: QFEX against Phemex−0.291%7-day average −0.877% · 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−$194as in the Price arb table
costs, in and out, $10k−$2522.522% of the position
Funding, last 3 days (all we have)0.000%$0 on $10k
+Price spread, last 2 days (all we have)+0.681%+$68 · spread now −0.291%, 7d avg −0.877%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.586% dearer against Phemex than usual: you sell high and buy low: +$59 more if the spread goes back to its 7-day average of −0.877%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex CYPHUSDT | 3.4400 | 0 | get 0.0000% / 8h | 5h 51m | $150K | $224K | 10x |
| Short | QFEX CYPH-USD | 3.4300 | 0.0028 | get 0.0004% / 1h | 51m 27s | $2.1M | $328K | 10x |
Phemex CYPHUSDT
QFEX CYPH-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $5.9
- Price spread: −0.291% → −0.877%
- $58.62
- Slippage, 4 orders
- −$230.21
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$187.69
- Costs to cover
- 2.522%
- Break-even
- 229.8 days
Slippage from Phemex: live order book, 59 min ago; QFEX: live order book, 4 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 Phemex live order book, 59 min ago | 4.41 bp | 50.2 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 4 min ago | 29.16 bp | 60.0 bp −$60 | 74.3 bp −$743 | doesn't fit | doesn't fit |
CYPH on 10 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CYPHUSDT | 0.0000% | 8h | 3.4560 | +0.465% | $41K | $427K | 25x | as long as short |
| Gate CYPH_USDT | 0.0000% | 8h | 3.4290 | −0.320% | $36K | $54K | 20x | as long as short |
| Bitget CYPHUSDT | 0.0000% | 8h | 3.4416 | +0.047% | $46K | $612K | 20x | as long as short |
| SunX CYPH-USDT | 0.0000% | 8h | 3.4390 | −0.029% | — | $3.6M | 10x | as long as short |
| HTX CYPH-USDT | 0.0000% | 8h | 3.4410 | +0.029% | $7K | $357K | 20x | as long as short |
| Phemex CYPHUSDTlong | 0.0000% | 8h | 3.4400 | long leg | $150K | $224K | 10x | |
| QFEX CYPH-USDshort | +0.0028% | 1h | 3.4300 | −0.291% | $2.1M | $328K | 10x | |
| Binance CYPHUSDT | +0.0164% | 8h | 3.4380 | −0.058% | $246K | $2.6M | 20x | as long as short |
| edgeX CYPHUSDC | +0.0497% | 4h | 3.4360 | −0.116% | $147 | $39K | 10x | as long as short |
| Aftermath Perps CYPHUSD | +0.2378% | 1h | 3.5648 | +3.626% | $529 | $20K | 3x | as long as short |
Bybit CYPHUSDT
Gate CYPH_USDT
Bitget CYPHUSDT
SunX CYPH-USDT
HTX CYPH-USDT
Binance CYPHUSDT
edgeX CYPHUSDC
Aftermath Perps CYPHUSD