Funding arb · Price arb /

INTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.018%

Price spread now: QFEX against Phemex−0.140%7-day average −0.027% · 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−$124as in the Price arb table

costs, in and out, $10k−$1131.130% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.140%, 7d avg −0.027%

Together, before fees+0.074%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.113% cheaper against Phemex than usual: you would sell low and buy high (spread −0.140% now, against its 7-day average of −0.027%). If the spread goes back, that is −$11 on $10k: about 6.9 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.027% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex INTCUSDT	121.52	0	get 0.0000% / 8h	3h 25m	$1.7M	$50K	10x
Short	QFEX INTC-USD	121.35	0.0054	get 0.0007% / 1h	25m 12s	$1.5M	$11.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Phemex. 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 PhemexbpFee QFEXbpOrdersPrice spread, now −0.140%Rate

Funding earned: $11.39
Price spread: −0.140% → −0.027%: −$11.27
Slippage, 4 orders: −$91
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$112.88
Costs to cover: 1.130%
Break-even: 76.4 days

Slippage from Phemex: live order book, 3 min ago; QFEX: live order book, 4 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 Phemex live order book, 3 min ago	4.51 bp	57.7 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.23 bp	6.2 bp −$6	6.2 bp −$62	11.3 bp −$1,127	doesn't fit

INTC on 33 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
Bitget INTCUSDT	−0.0214%	8h	121.55	+0.025%	$25.1M	$31.7M	50x	as long as short
Nado INTC-PERP	−0.0062%	1h	121.29	−0.186%	$170K	$282K	10x	as long as short
Aster INTCUSDT	0.0000%	8h	121.51	−0.009%	$305K	$522K	20x	as long as short
Bybit INTCUSDT	0.0000%	8h	121.45	−0.058%	$12.8M	$28.5M	50x	as long as short
Gate INTC_USDT	0.0000%	8h	121.42	−0.082%	$8.4M	$30.1M	75x	as long as short
Deribit INTC_USDC-PERPETUAL	0.0000%	1h	121.36	−0.132%	$20K	$107K	10x	as long as short
Phemex INTCUSDTlong	0.0000%	8h	121.52	long leg	$1.7M	$50K	10x
Lighter RH INTC	+0.0032%	1h	121.48	−0.033%	$661K	$2.9M	10x	as long as short
Injective INTC/USDC PERP	+0.0033%	1h	121.34	−0.148%	$213	$22K	12x	as long as short
GRVT INTC_USDT_Perp	+0.0037%	8h	121.86	+0.281%	$913K	$1.4M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus INTC-USD	+0.0040%	1h	121.60	+0.066%	$92K	$307K	10x	as long as short
Aftermath Perps INTCUSD	+0.0043%	1h	121.57	+0.043%	$2K	$53K	10x	as long as short
Vest INTC-USD-PERP	+0.0046%	1h	121.22	−0.247%	—	$1.5M	25x	as long as short
SoDEX INTC-USD	+0.0050%	1h	121.42	−0.086%	$27K	$4K	10x	as long as short
Ondo Perps INTC-USD.P	+0.0050%	1h	121.17	−0.288%	$1.3M	$2.2M	10x	as long as short
QFEX INTC-USDshort	+0.0054%	1h	121.35	−0.140%	$1.5M	$11.7M	10x
OKX INTC-USDT-SWAP	+0.0060%	8h	121.45	−0.058%	$18.3M	$67.7M	25x	as long as short
Paradex INTC-USD-PERP	+0.0099%	8h	121.33	−0.152%	—	—	5x	as long as short
ApeX Omni INTCUSDT	+0.0100%	1h	121.61	+0.074%	$47K	$260K	50x	as long as short
Orderly PERP_INTC_USDC_mythos	+0.0100%	8h	121.49	−0.025%	$4K	$3K	10x	as long as short
Variational Omni INTC	+0.0105%	8h	121.44	−0.064%	$2.1M	$2.5M	—	as long as short
Aevo INTC-PERP	+0.0120%	1h	121.45	−0.059%	$49K	—	10x	as long as short
Binance INTCUSDT	+0.0142%	8h	121.51	−0.008%	$71.4M	$399.5M	25x	as long as short
Extended INTC_24_5-USD	+0.0144%	1h	121.43	−0.078%	$336K	$1.9M	10x	as long as short
Polymarket Perps INTC-USD	+0.0158%	1h	121.41	−0.091%	$209K	$485K	10x	as long as short
Lighter INTC	+0.0168%	1h	121.45	−0.056%	$1.4M	$2.1M	10x	as long as short
KuCoin INTCUSDTM	+0.0172%	8h	121.47	−0.041%	$1.1M	$105K	20x	as long as short
Coinbase International INTC-PERP-INTX	+0.0192%	1h	121.24	−0.230%	$256K	$824K	10x	as long as short
BloFin INTC-USDT	+0.0262%	8h	121.52	0.000%	$908K	$305K	25x	as long as short
tradeXYZ xyz:INTC	+0.0299%	1h	121.40	−0.099%	$145.3M	$67.8M	10x	as long as short
edgeX INTCUSDC	+0.0312%	4h	121.81	+0.240%	$86K	$293K	10x	as long as short
Phoenix INTC	+0.0326%	1h	121.65	+0.107%	$47K	$265K	10x	as long as short
RISEx INTC/USDC	+0.0459%	1h	121.40	−0.099%	$343K	$361K	10x	as long as short