Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 114.55 | +0.0200 | pay 0.0200% / 8h | 2h 32m | $944K | $1.2M | — | Long BingX | |
| SHORT | 114.18 | −0.0059 | pay 0.0007% / 1h | 32m 43s | $1.3M | $10.6M | 10x | Short QFEX |
Price gap−0.323%
Funding gap−0.0259% /8h
Both sides work against this direction now: funding costs $8 a day on $10k and the gap is 0.305% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$51−0.0259% /8h now · paid −0.513% over the last 7D
Price−$30spread −0.323% now, avg −0.018% → −0.305% if it goes back
Costsdoesn’t fit$10k a leg is deeper than the books hold
Result, before costs−$82−0.82%no pointscosts unknown: book too thin at $10k · What 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−0.323%
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
/8hFLEX on 7 exchanges
lowest funding firstBefore you open
0 ok · 5 to watch- Problem: Doesn’t fit the books—$10k a leg is deeper than QFEX’s order book right now.
- Note: Margin at max leverage— + $1,000BingX —, QFEX 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$7.76Long BingX: 3 payments, −$6.00; short QFEX: 24 payments, −$1.76.
- Watch: Gap narrower than usual−0.323% vs −0.018%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$944K vs $1.3M OIBingX sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCBingX Yes · QFEX NoAdvanced 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 outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0244%/8h × 21 periods−$51.26
Price spread−0.323% → −0.018% (7d avg)−$30.46
Slippage, 4 ordersdoesn’t fit the book at $10k—
Fee BingX bp × 2 orders−$10.00
Fee QFEX bp × 2 orders−$20.00
Net · 7 days · $10k—
doesn’t fit the books at $10kCosts to cover—Break-even—
Slippage: BingX: live order book, 4 min ago; QFEX: live order book, 5 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBingX19.6777.7 bp−$78165.8 bp−$1,658255.9 bp−$25.6K582.6 bp−$291.3K
SELL · SHORTQFEX58.82doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.