Funding arb · Price arb /

GLW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.010%

Price spread now: Orderly against QFEX+0.175%46s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.175% dearer against QFEX than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GLW-USD	159.61	0.0050	pay 0.0006% / 1h	26m 36s	$1.1M	$1.9M	10x
Short	Orderly PERP_GLW_USDC_mythos	159.89	0.0100	get 0.0100% / 8h	3h 26m	$2K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.175%Rate

Funding earned: $10.57
Price spread: +0.175% → 0.000%: $17.54
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $12.11
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: QFEX: live order book, 5 min ago; Orderly: no order-book sample. Net counts fees only.

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, 5 min ago	2.18 bp	8.5 bp −$8	13.9 bp −$139	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Aster GLWUSDT	0.0000%	8h	159.89	+0.177%	$41K	$1K	20x	as long as short
Bybit GLWUSDT	0.0000%	8h	159.61	0.000%	$916K	$201K	25x	as long as short
Gate GLW_USDT	0.0000%	8h	159.79	+0.113%	$2.2M	$4.2M	50x	as long as short
Bitget GLWUSDT	0.0000%	8h	159.71	+0.063%	$2.1M	$863K	20x	as long as short
SunX GLW-USDT	0.0000%	8h	160.01	+0.251%	$1K	$1.8M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	160.34	+0.457%	$16K	$16K	20x	as long as short
GRVT GLW_USDT_Perp	+0.0016%	8h	160.35	+0.464%	$441	$195K	10x	as long as short
Paragon para:GLW	+0.0036%	1h	159.71	+0.065%	$311K	$41K	10x	as long as short
Vest GLW-USD-PERP	+0.0046%	1h	159.58	−0.019%	—	—	10x	as long as short
QFEX GLW-USDlong	+0.0050%	1h	159.61	long leg	$1.1M	$1.9M	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps GLW-USD.P	+0.0050%	1h	160.00	+0.244%	$290K	$117K	10x	as long as short
KuCoin GLWUSDTM	+0.0100%	8h	159.82	+0.132%	$321K	$926K	20x	as long as short
Orderly PERP_GLW_USDC_mythosshort	+0.0100%	8h	159.89	+0.175%	$2K	$2K	10x
OKX GLW-USDT-SWAP	+0.0150%	8h	159.61	0.000%	$2.2M	$4.4M	20x	as long as short
BloFin GLW-USDT	+0.0175%	8h	160.03	+0.263%	$151K	$36K	20x	as long as short
Binance GLWUSDT	+0.0192%	8h	159.67	+0.040%	$10.4M	$22.2M	20x	as long as short
Extended GLW-USD	+0.0200%	1h	159.64	+0.022%	$2K	$1K	10x	as long as short