Funding arb · Price arb /

QCOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.057%

Price spread now: Injective against Phemex+10.224%65s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 10.224% dearer against Phemex than usual: you sell high and buy low: +$1,022 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex QCOMUSDT	194.83	0	get 0.0000% / 8h	3h 53m	$1.6M	$992K	10x
Short	Injective QCOM/USDC PERP	214.75	0.0220	get 0.0028% / 1h	53m 37s	$26K	$25K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +10.224%Rate

Funding earned: $46.2
Price spread: +10.224% → 0.000%: $1,022.43
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,056.61
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 5 min ago; Injective: no order-book sample. Net counts fees only.

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, 5 min ago	1.79 bp	28.0 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

QCOM on 21 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 QCOMUSDT	0.0000%	8h	194.92	+0.047%	$18K	$11K	20x	as long as short
Bybit QCOMUSDT	0.0000%	8h	194.77	−0.031%	$2.5M	$1.8M	25x	as long as short
OKX QCOM-USDT-SWAP	0.0000%	8h	194.80	−0.015%	$1.8M	$3.7M	20x	as long as short
Gate QCOM_USDT	0.0000%	8h	194.88	+0.026%	$4.4M	$3.2M	50x	as long as short
Bitget QCOMUSDT	0.0000%	8h	194.82	−0.005%	$1.3M	$1.1M	20x	as long as short
Variational Omni QCOM	0.0000%	8h	195.00	+0.085%	$317K	$78K	—	as long as short
GRVT QCOM_USDT_Perp	0.0000%	8h	195.19	+0.186%	$6K	$189K	10x	as long as short
SunX QCOM-USDT	0.0000%	8h	194.73	−0.051%	$652	$4.5M	10x	as long as short
HTX QCOM-USDT	0.0000%	8h	195.10	+0.139%	$10K	$10K	20x	as long as short
Phemex QCOMUSDTlong	0.0000%	8h	194.83	long leg	$1.6M	$992K	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX QCOM-USD	+0.0029%	1h	194.74	−0.046%	$1.2M	$3.2M	10x	as long as short
Lighter QCOM	+0.0032%	1h	194.59	−0.123%	—	—	10x	as long as short
BloFin QCOM-USDT	+0.0035%	8h	195.07	+0.123%	$128K	$54K	20x	as long as short
Binance QCOMUSDT	+0.0055%	8h	194.88	+0.025%	$11.1M	$22.8M	20x	as long as short
Extended QCOM-USD	+0.0056%	1h	194.82	−0.006%	$102K	$421K	10x	as long as short
Polymarket Perps QCOM-USD	+0.0061%	1h	194.86	+0.015%	$83K	$894K	10x	as long as short
edgeX QCOMUSDC	+0.0062%	4h	194.89	+0.030%	$80K	$272K	10x	as long as short
KuCoin QCOMUSDTM	+0.0100%	8h	194.78	−0.026%	$317K	$514K	20x	as long as short
Injective QCOM/USDC PERPshort	+0.0220%	1h	214.75	+10.224%	$26K	$25K	12x
Phoenix QCOM	+0.0448%	1h	195.58	+0.385%	$98K	$239K	10x	as long as short
tradeXYZ xyz:QCOM	+0.0612%	1h	194.94	+0.056%	$7.5M	$2.4M	10x	as long as short