Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.002%

Price spread now: QFEX against Binance−0.045%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$470.465% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.045%, 7d avg −0.024%

Together, before fees+0.051%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and QFEX is 0.021% cheaper against Binance than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HIMSUSDT	29.263	0	get 0.0000% / 8h	5h 12m	$965K	$2.6M	20x
Short	QFEX HIMS-USD	29.250	−0.0010	pay 0.0001% / 1h	12m 30s	$1.3M	$573K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$2.07
Price spread: −0.045% → −0.024%: −$2.1
Slippage, 4 orders: −$26.54
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$50.71
Costs to cover: 0.465%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; QFEX: live order book, 4 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 Binance live order book, 8 min ago	1.71 bp	9.7 bp −$10	38.5 bp −$385	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	3.42 bp	9.6 bp −$10	20.4 bp −$204	doesn't fit	doesn't fit

HIMS on 14 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
Nado HIMS-PERP	−0.0196%	1h	29.243	−0.070%	$2K	$2K	10x	as long as short
QFEX HIMS-USDshort	−0.0010%	1h	29.250	−0.045%	$1.3M	$573K	10x
Aster HIMSUSDT	0.0000%	8h	29.256	−0.026%	$4K	$2K	20x	as long as short
Binance HIMSUSDTlong	0.0000%	8h	29.263	long leg	$965K	$2.6M	20x
Bybit HIMSUSDT	0.0000%	8h	29.280	+0.057%	$297K	$119K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	29.270	+0.023%	$287K	$173K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.247	−0.056%	$506K	$202K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.259	−0.014%	$97K	$78K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.250	−0.045%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.281	+0.061%	$6K	$38K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest HIMS-USD-PERP	+0.0046%	1h	29.250	−0.045%	—	—	10x	as long as short
tradeXYZ xyz:HIMS	+0.0050%	1h	29.254	−0.032%	$3.3M	$1.6M	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.250	−0.045%	$134K	$35K	20x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.550	+0.980%	$13K	$22K	5.5x	as long as short