Funding arb · Price arb /

GLW

RWAall GLW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h +0.079%

Price spread now: BloFin against QFEX+0.031%7-day average +0.029% · 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−$36as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.087%+$9 on $10k

Price spread, last 3 days (all we have)+0.154%+$15 · spread now +0.031%, 7d avg +0.029%

Together, before fees+0.241%+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.087% in total (about 9.4% 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 GLW-USD	160.01	0.0050	pay 0.0006% / 1h	7m 15s	$1.1M	$2.1M	10x
Short	BloFin GLW-USDT	160.06	0.0334	get 0.0334% / 8h	1h 07m	$151K	$33K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee QFEXbpFee BloFinbpOrdersPrice spread, now +0.031%Rate

Funding earned: $59.58
Price spread: +0.031% → +0.029%: $0.18
Slippage, 4 orders: −$14.4
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $23.36
Costs to cover: 0.364%
Break-even: 4.3 days

Slippage from QFEX: live order book, 10 min ago; BloFin: live order book, 66 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, 10 min ago	1.88 bp	8.1 bp −$8	13.0 bp −$130	doesn't fit	doesn't fit
Sell BloFin live order book, 66 min ago	0.63 bp	13.8 bp −$14	40.3 bp −$403	doesn't fit	doesn't fit

GLW on 17 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
Paragon para:GLW	−0.0007%	1h	159.84	−0.106%	$318K	$27K	10x	as long as short
Aster GLWUSDT	0.0000%	8h	160.04	+0.018%	$41K	$1K	20x	as long as short
Bybit GLWUSDT	0.0000%	8h	159.97	−0.025%	$916K	$214K	25x	as long as short
Gate GLW_USDT	0.0000%	8h	159.87	−0.087%	$2.2M	$4.2M	50x	as long as short
Bitget GLWUSDT	0.0000%	8h	160.02	+0.006%	$2.2M	$860K	20x	as long as short
SunX GLW-USDT	0.0000%	8h	159.96	−0.031%	$1K	$2.0M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	159.98	−0.019%	$16K	$16K	20x	as long as short
Vest GLW-USD-PERP	+0.0046%	1h	159.95	−0.037%	—	—	10x	as long as short
QFEX GLW-USDlong	+0.0050%	1h	160.01	long leg	$1.1M	$2.1M	10x
Ondo Perps GLW-USD.P	+0.0050%	1h	159.87	−0.087%	$300K	$86K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin GLWUSDTM	+0.0100%	8h	159.89	−0.075%	$320K	$983K	20x	as long as short
Orderly PERP_GLW_USDC_mythos	+0.0100%	8h	160.01	0.000%	$2K	$2K	10x	as long as short
OKX GLW-USDT-SWAP	+0.0159%	8h	160.04	+0.019%	$2.3M	$4.4M	20x	as long as short
Extended GLW-USD	+0.0312%	1h	160.02	+0.005%	$2K	$2K	10x	as long as short
Binance GLWUSDT	+0.0315%	8h	160.04	+0.018%	$10.8M	$21.0M	20x	as long as short
BloFin GLW-USDTshort	+0.0334%	8h	160.06	+0.031%	$151K	$33K	20x
GRVT GLW_USDT_Perp	+0.0417%	8h	159.93	−0.050%	$467	$181K	10x	as long as short