Funding you earn now, next payment 09:00 UTC−0.0910%/8h= −99.7% APRpaid last 24h −0.001%
Price spread now: Bybit against QFEX+4.008%7-day average +0.084% · 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−$829as in the Price arb table
costs, in and out, $10k−$1,22112.214% of the position
Funding, last 4 days (all we have)+0.011%+$1 on $10k
+Price spread, last 7 days−4.033%−$403 · spread now +4.008%, 7d avg +0.084%
=The price spread pays, funding is against you. Bybit is 3.924% dearer against QFEX than usual: you sell high and buy low (spread +4.008% now, against its 7-day average of +0.084%): +$392 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 14 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.011% in total (about 1.1% 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 | 27m 04s | $1.1M | $357K | 10x |
| Short | Bybit FWDIUSDT | 7.9670 | −0.0910 | pay 0.0910% / 8h | 7h 27m | $355K | $276K | 25x |
QFEX FWDI-USD
Bybit FWDIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$191.13
- Price spread: +4.008% → +0.084%
- $392.37
- Slippage, 4 orders
- −$1,200.41
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$1,020.17
- Costs to cover
- 12.214%
- Break-even
- never at this rate
Slippage from QFEX: live order book, 2 min ago; Bybit: live order book, 3 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, 2 min ago | 6.54 bp | 465.7 bp −$466 | 475.9 bp −$4,759 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 6.28 bp | 119.1 bp −$119 | 228.8 bp −$2,288 | 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 FWDIUSDTshort | −0.0910% | 8h | 7.9670 | +4.008% | $355K | $276K | 25x | |
| Bitget FWDIUSDT | −0.0504% | 8h | 7.9630 | +3.956% | $424K | $134K | 5x | as long as short |
| OKX FWDI-USDT-SWAP | −0.0411% | 8h | 7.9570 | +3.877% | $314K | $228K | 10x | as long as short |
| Binance FWDIUSDT | −0.0399% | 8h | 7.9730 | +4.086% | $441K | $1.5M | 10x | as long as short |
| QFEX FWDI-USDlong | 0.0000% | 1h | 7.6600 | long leg | $1.1M | $357K | 10x | |
| Variational Omni FWDI | 0.0000% | 8h | 7.9767 | +4.134% | $113K | $57K | — | as long as short |
| HTX FWDI-USDT | 0.0000% | 8h | 7.9660 | +3.995% | $6K | $63K | 10x | as long as short |
Bitget FWDIUSDT
OKX FWDI-USDT-SWAP
Binance FWDIUSDT
Variational Omni FWDI
HTX FWDI-USDT