NET

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	QFEXNET-USD	328.04	0	0.0000% / 1h	2m 43s	$315K	$70K	10x	Long QFEX10% back
SHORT	Paragonpara:NET	326.45	+0.2051	get 0.0256% / 1h	2m 43s	$296K	$56K	10x	Short Paragon

Price gap−0.485%

Funding gap+0.2051% /8h

Funding pays +$62 a day on $10k, but the gap is 0.245% under its 7d average: −$24 if it goes back, about 10 hours of funding.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$28+0.2051% /8h now · paid −0.279% over the last 2 days (all we have)

Price−$24spread −0.485% now, avg −0.240% → −0.245% if it goes back

Costs−$1101.104% of $10k · taker + slippage, in and out

Result−$163−1.63%no pointsWhat the last 7D really paid, hour by hour → backtest

The current funding rate is far above what this pair has been paying: over the last 2 days it paid −0.279% in total, about −0.0447%/8h on average.

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.485%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

NET on 13 exchanges

lowest funding first

Before you open

2 ok · 3 to watch

Watch: Thin at this size20.1 / 41.1 bp
At $10k entering Paragon costs 41.1 bp, fee and slippage, 2.0× QFEX’s.
Note: Margin at max leverage$1,000 + $1,000
QFEX 10x, Paragon 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: +$61.52Long QFEX: 24 payments, $0.00; short Paragon: 24 payments, +$61.52.
Watch: Gap narrower than usual−0.485% vs −0.240%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Short leg is thinner$296K vs $315K OI
Paragon sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
OK: No KYC on either legQFEX No · Paragon No
Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0447%/8h × 21 periods−$93.87

Price spread−0.485% → −0.240% (7d avg)−$24.50

Slippage, 4 orderslive order books−$88.62

Fee QFEX bp × 2 orders−$20.00

Fee Paragon bp × 2 orders−$1.80

Net · 7 days · $10k−$228.79

Costs to cover1.104%Break-evennever at this rate

Slippage: QFEX: live order book, 59 min ago; Paragon: live order book, 67 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGQFEX2.4420.1 bp−$20doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTParagon27.8841.1 bp−$41182.3 bp−$1,823doesn’t fitdoesn’t fit

Closing costs about the same again.

NET news

posts that mention NET or Cloudflare, from every exchangeSearch all news →

10-23 15:37	QFEX	Listing	new market NET-USD ($NET) seen by our collector
10-22 17:59	Paragon	Other	The 10-year Treasury yield traded below 5% today for the first time since Sept 23, as investors sought safety during the AI selloff. Security concerns lifted cyber names too. PHP2Shell, two critical PHP flaws that could let attackers run code on servers, drew urgent warnings from the NSA, FBI and cyber agencies worldwide. $NET and $CRWD are up 5.2% and 4.7% since Tuesday's close. @tradeparagon on X ↗
10-21 17:04	Paragon	Other	Node.js joins PHP in this week’s security headlines, with high-severity vulnerabilities across its 22.x, 24.x and 26.x releases. The bull case for cybersecurity is pressure on businesses to spend more on protection. CrowdStrike ($CRWD) and Cloudflare ($NET) sell that protection. Trade both 24/7 on Hyperliquid, with up to 10x leverage each. @tradeparagon on X ↗

NET