Funding you earn now, next payment 09:00 UTC−0.0452%/8h= −49.5% APRpaid last 24h −0.028%
Price spread now: Binance against QFEX+4.099%7-day average +0.175% · 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−$641as in the Price arb table
costs, in and out, $10k−$1,03410.339% of the position
Funding, last 4 days (all we have)+0.026%+$3 on $10k
+Price spread, last 7 days−3.982%−$398 · spread now +4.099%, 7d avg +0.175%
=The price spread pays, funding is against you. Binance is 3.924% dearer against QFEX than usual: you sell high and buy low (spread +4.099% now, against its 7-day average of +0.175%): +$392 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 29 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.026% in total (about 2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX FWDI-USD | 7.6600 | 0 | get 0.0000% / 1h | 25m 13s | $1.1M | $357K | 10x |
| Short | Binance FWDIUSDT | 7.9740 | −0.0452 | pay 0.0452% / 8h | 7h 25m | $441K | $1.5M | 10x |
QFEX FWDI-USD
Binance FWDIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against QFEX. 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
- −$95
- Price spread: +4.099% → +0.175%
- $392.43
- Slippage, 4 orders
- −$1,013.88
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$736.45
- Costs to cover
- 10.339%
- Break-even
- never at this rate
Slippage from QFEX: live order book, 4 min ago; Binance: live order book, 8 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, 4 min ago | 6.54 bp | 465.7 bp −$466 | 475.9 bp −$4,759 | doesn't fit | doesn't fit |
| Sell Binance live order book, 8 min ago | 1.88 bp | 65.1 bp −$65 | 325.2 bp −$3,252 | doesn't fit | doesn't fit |
FWDI on 7 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit FWDIUSDT | −0.1022% | 8h | 7.9720 | +4.073% | $355K | $275K | 25x | as long as short |
| Bitget FWDIUSDT | −0.0494% | 8h | 7.9630 | +3.956% | $424K | $134K | 5x | as long as short |
| Binance FWDIUSDTshort | −0.0452% | 8h | 7.9740 | +4.099% | $441K | $1.5M | 10x | |
| OKX FWDI-USDT-SWAP | −0.0439% | 8h | 7.9570 | +3.877% | $314K | $228K | 10x | as long as short |
| Variational Omni FWDI | −0.0085% | 8h | 7.9679 | +4.020% | $113K | $57K | — | as long as short |
| QFEX FWDI-USDlong | 0.0000% | 1h | 7.6600 | long leg | $1.1M | $357K | 10x | |
| HTX FWDI-USDT | 0.0000% | 8h | 7.9690 | +4.034% | $7K | $63K | 10x | as long as short |
Bybit FWDIUSDT
Bitget FWDIUSDT
OKX FWDI-USDT-SWAP
Variational Omni FWDI
HTX FWDI-USDT