Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h 0.000%

Price spread now: QFEX against Gate+0.055%7-day average 0.000% · 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−$256as in the Price arb table

costs, in and out, $10k−$2612.614% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.055%, 7d avg 0.000%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and QFEX is 0.055% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HIMS_USDT	29.104	0	get 0.0000% / 8h	39m 25s	$504K	$203K	25x
Short	QFEX HIMS-USD	29.120	0.0013	get 0.0002% / 1h	39m 25s	$1.3M	$555K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now +0.055%Rate

Funding earned: $2.76
Price spread: +0.055% → 0.000%: $5.47
Slippage, 4 orders: −$236.37
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$253.15
Costs to cover: 2.614%
Break-even: 650.2 days

Slippage from Gate: live order book, 62 min ago; QFEX: live order book, 2 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 Gate live order book, 62 min ago	17.85 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	80.71 bp	87.5 bp −$88	doesn't fit	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	−0.0005%	1h	29.118	+0.048%	$2K	$2K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.084	−0.070%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.113	+0.030%	$962K	$2.7M	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.110	+0.021%	$290K	$137K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	29.140	+0.124%	$281K	$130K	20x	as long as short
Gate HIMS_USDTlong	0.0000%	8h	29.104	long leg	$504K	$203K	25x
Variational Omni HIMS	0.0000%	8h	29.114	+0.035%	$97K	$77K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.098	−0.021%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.080	−0.082%	$6K	$39K	10x	as long as short
QFEX HIMS-USDshort	+0.0013%	1h	29.120	+0.055%	$1.3M	$555K	10x

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	29.120	+0.055%	—	—	10x	as long as short
tradeXYZ xyz:HIMS	+0.0050%	1h	29.114	+0.034%	$3.4M	$1.6M	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.100	−0.014%	$135K	$55K	20x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.450	+1.189%	$13K	$22K	5.5x	as long as short