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: Gate against QFEX−0.065%7-day average 0.000% · 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−$268as in the Price arb table

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

Long on QFEX Short on Gate

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)+0.074%+$7 · spread now −0.065%, 7d avg 0.000%

Together, before fees+0.073%+$7 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 Gate is 0.065% cheaper against QFEX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX HIMS-USD	29.120	0.0013	pay 0.0002% / 1h	39m 41s	$1.3M	$555K	10x
Short	Gate HIMS_USDT	29.101	0	get 0.0000% / 8h	39m 41s	$504K	$203K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.065%Rate

Funding earned: −$2.76
Price spread: −0.065% → 0.000%: −$6.5
Slippage, 4 orders: −$236.37
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$270.63
Costs to cover: 2.614%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; Gate: live order book, 61 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, 2 min ago	80.71 bp	87.3 bp −$87	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 61 min ago	17.85 bp	59.2 bp −$59	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	−0.0010%	1h	29.091	−0.099%	$2K	$2K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.084	−0.125%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.113	−0.025%	$962K	$2.7M	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.110	−0.034%	$290K	$137K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	29.140	+0.069%	$281K	$130K	20x	as long as short
Gate HIMS_USDTshort	0.0000%	8h	29.101	−0.065%	$504K	$203K	25x
Variational Omni HIMS	0.0000%	8h	29.114	−0.019%	$97K	$77K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.098	−0.076%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.080	−0.137%	$6K	$39K	10x	as long as short
QFEX HIMS-USDlong	+0.0013%	1h	29.120	long leg	$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	0.000%	—	—	10x	as long as short
tradeXYZ xyz:HIMS	+0.0050%	1h	29.115	−0.017%	$3.4M	$1.6M	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.110	−0.034%	$135K	$55K	20x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.450	+1.133%	$13K	$22K	5.5x	as long as short