Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Bybit against QFEX+0.068%7-day average +0.026% · 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−$214as in the Price arb table

costs, in and out, $10k−$2192.186% of the position

Long on QFEX Short on Bybit

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)+0.050%+$5 · spread now +0.068%, 7d avg +0.026%

Together, before fees+0.049%+$5 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: Bybit is 0.043% dearer against QFEX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX HIMS-USD	29.280	−0.0004	get 0.0000% / 1h	52m 53s	$1.3M	$523K	10x
Short	Bybit HIMSUSDT	29.300	0	get 0.0000% / 8h	2h 52m	$295K	$124K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.068%Rate

Funding earned: $0.77
Price spread: +0.068% → +0.026%: $4.27
Slippage, 4 orders: −$197.6
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$213.56
Costs to cover: 2.186%
Break-even: 1941.4 days

Slippage from QFEX: live order book, 3 min ago; Bybit: live order book, 51 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, 3 min ago	54.65 bp	61.3 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 51 min ago	8.55 bp	51.0 bp −$51	203.4 bp −$2,034	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	−0.0048%	1h	29.283	+0.010%	$2K	$2K	10x	as long as short
QFEX HIMS-USDlong	−0.0004%	1h	29.280	long leg	$1.3M	$523K	10x
Aster HIMSUSDT	0.0000%	8h	29.293	+0.043%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.283	+0.009%	$968K	$2.6M	20x	as long as short
Bybit HIMSUSDTshort	0.0000%	8h	29.300	+0.068%	$295K	$124K	25x
OKX HIMS-USDT-SWAP	0.0000%	8h	29.230	−0.171%	$287K	$174K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.274	−0.020%	$506K	$198K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.280	0.000%	$98K	$78K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.246	−0.116%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.245	−0.120%	$7K	$39K	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	−0.102%	—	—	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.260	−0.068%	$134K	$37K	20x	as long as short
tradeXYZ xyz:HIMS	+0.0180%	1h	29.270	−0.034%	$3.4M	$1.6M	10x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.520	+0.820%	$13K	$22K	5.5x	as long as short