CYPH

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	QFEXCYPH-USD	3.2500	+0.0006	pay 0.0001% / 1h	10m 19s	$2.0M	$157K	10x	Long QFEX
SHORT	BingXNCSKCYPH2USD-USDT	3.2460	+0.0553	get 0.0553% / 8h	4h 10m	$978K	$1.3M	—	Short BingX

Price gap−0.123%

Funding gap+0.0547% /8h

Both sides work: funding pays +$16 a day on $10k, and the gap is 0.073% above its 7d average: +$7 more if it goes back.

If you open now and hold

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

Funding+$111+0.0547% /8h now · paid +1.111% over the last 7D

Price+$7spread −0.123% now, avg −0.197% → +0.073% if it goes back

Costs−$3203.201% of $10k · taker + slippage, in and out

Result−$202−2.02%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−0.123%

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 size107.4 / 62.5 bp
At $10k entering QFEX costs 107.4 bp, fee and slippage, 1.7× BingX’s.
Note: Margin at max leverage$1,000 + —
QFEX 10x, BingX —. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ1h / 8h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: +$16.41Long QFEX: 24 payments, −$0.18; short BingX: 3 payments, +$16.59.
OK: Entry gap works for you−0.123% vs −0.197%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$978K vs $2.0M OI
BingX sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCQFEX No · BingX Yes
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−0.123% → −0.197% (7d avg)+$7.35

Slippage, 4 orderslive order books−$290.05

Fee QFEX bp × 2 orders−$20.00

Fee BingX bp × 2 orders−$10.00

Net · 7 days · $10k−$201.56

Costs to cover3.201%Break-even19.7 days

Slippage: QFEX: live order book, 6 min ago; BingX: live order book, 12 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGQFEX15.36107.4 bp−$107116.5 bp−$1,165doesn’t fitdoesn’t fit

SELL · SHORTBingX13.9162.5 bp−$62128.3 bp−$1,283600.2 bp−$60.0K1116.5 bp−$558.2K

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