Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.030%

Price spread now: KuCoin against QFEX−0.068%7-day average −0.016% · 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−$684as in the Price arb table

costs, in and out, $10k−$6796.789% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.068%, 7d avg −0.016%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.053% cheaper against QFEX than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of −0.016%). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX HIMS-USD	29.260	0.0002	pay 0.0000% / 1h	43m 51s	$1.3M	$663K	10x
Short	KuCoin HIMSUSDTM	29.240	0.0100	get 0.0100% / 8h	43m 51s	$136K	$22K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.068%Rate

Funding earned: $20.51
Price spread: −0.068% → −0.016%: −$5.25
Slippage, 4 orders: −$656.92
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$663.66
Costs to cover: 6.789%
Break-even: 233.5 days

Slippage from QFEX: live order book, 3 min ago; KuCoin: live order book, 10 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	27.34 bp	33.5 bp −$34	45.1 bp −$451	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	29.09 bp	321.7 bp −$322	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
Aster HIMSUSDT	0.0000%	8h	29.242	−0.061%	$4K	$2K	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.270	+0.034%	$298K	$118K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	29.230	−0.103%	$288K	$187K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.250	−0.034%	$505K	$205K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.261	+0.005%	$97K	$87K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.262	+0.007%	—	$2.6M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.228	−0.109%	$6K	$38K	10x	as long as short
QFEX HIMS-USDlong	+0.0002%	1h	29.260	long leg	$1.3M	$663K	10x
Binance HIMSUSDT	+0.0031%	8h	29.260	0.000%	$1.0M	$2.7M	20x	as long as short
Vest HIMS-USD-PERP	+0.0046%	1h	29.280	+0.068%	—	—	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:HIMS	+0.0066%	1h	29.254	−0.021%	$3.3M	$1.7M	10x	as long as short
KuCoin HIMSUSDTMshort	+0.0100%	8h	29.240	−0.068%	$136K	$22K	20x
Injective HIMS/USDC PERP	+0.0220%	1h	29.600	+1.162%	$13K	$22K	5.5x	as long as short
Nado HIMS-PERP	+0.0226%	1h	29.245	−0.050%	$2K	$2K	10x	as long as short