Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h 0.000%

Price spread now: QFEX against OKX−0.102%7-day average −0.056% · 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−$72as in the Price arb table

costs, in and out, $10k−$680.677% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.102%, 7d avg −0.056%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.046% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HIMS-USDT-SWAP	29.320	0	get 0.0000% / 8h	7h 29m	$289K	$182K	20x
Short	QFEX HIMS-USD	29.290	0.0002	get 0.0000% / 1h	29m 16s	$1.4M	$720K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. 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 OKXbpFee QFEXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $0.42
Price spread: −0.102% → −0.056%: −$4.63
Slippage, 4 orders: −$47.67
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$71.87
Costs to cover: 0.677%
Break-even: 1204.9 days

Slippage from OKX: live order book, 41 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 OKX live order book, 41 min ago	8.54 bp	30.8 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	3.41 bp	9.1 bp −$9	19.5 bp −$195	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
Aster HIMSUSDT	0.0000%	8h	29.281	−0.133%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.296	−0.082%	$989K	$2.6M	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.290	−0.102%	$298K	$117K	25x	as long as short
OKX HIMS-USDT-SWAPlong	0.0000%	8h	29.320	long leg	$289K	$182K	20x
Gate HIMS_USDT	0.0000%	8h	29.285	−0.119%	$507K	$204K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.280	−0.135%	$98K	$86K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.283	−0.126%	—	$2.6M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.324	+0.014%	$7K	$37K	10x	as long as short
QFEX HIMS-USDshort	+0.0002%	1h	29.290	−0.102%	$1.4M	$720K	10x
Nado HIMS-PERP	+0.0003%	1h	29.306	−0.047%	$2K	$2K	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	29.290	−0.102%	—	—	10x	as long as short
tradeXYZ xyz:HIMS	+0.0050%	1h	29.288	−0.109%	$3.3M	$1.6M	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.290	−0.102%	$136K	$22K	20x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.610	+0.989%	$13K	$22K	5.5x	as long as short