Funding arb · Price arb /

QCOM

RWAall QCOM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0449%/8h= −49.1% APRpaid last 24h −0.097%

Price spread now: Phemex against Phoenix−0.066%73s7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1051.046% of the position

Long on Phoenix Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.420%−$42 on $10k

Price spread, last 4 days (all we have)+0.302%+$30 · spread now −0.066%, 7d avg +0.004%

Together, before fees−0.118%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Phemex is 0.071% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.004%). Swap the legs. The two prices were read 73 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	Phoenix QCOM	196.01	0.0449	pay 0.0056% / 1h	32m 21s	$98K	$239K	10x
Short	Phemex QCOMUSDT	195.88	0	get 0.0000% / 8h	5h 32m	$1.6M	$999K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Phoenix. 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 PhoenixbpFee PhemexbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$94.25
Price spread: −0.066% → +0.004%: −$7.08
Slippage, 4 orders: −$85.55
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$205.88
Costs to cover: 1.046%
Break-even: never at this rate

Slippage from Phoenix: live order book, 28 min ago; Phemex: live order book, 1 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 Phoenix live order book, 28 min ago	7.64 bp	21.5 bp −$22	47.5 bp −$475	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	2.30 bp	31.9 bp −$32	doesn't fit	doesn't fit	doesn't fit

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
edgeX QCOMUSDC	−0.0811%	4h	195.90	−0.057%	$81K	$271K	10x	as long as short
Aster QCOMUSDT	0.0000%	8h	195.98	−0.014%	$18K	$11K	20x	as long as short
Bybit QCOMUSDT	0.0000%	8h	195.83	−0.092%	$2.5M	$1.9M	25x	as long as short
OKX QCOM-USDT-SWAP	0.0000%	8h	195.78	−0.117%	$1.8M	$3.7M	20x	as long as short
Gate QCOM_USDT	0.0000%	8h	196.00	−0.005%	$4.4M	$3.3M	50x	as long as short
Bitget QCOMUSDT	0.0000%	8h	195.94	−0.036%	$1.3M	$1.1M	20x	as long as short
GRVT QCOM_USDT_Perp	0.0000%	8h	195.90	−0.056%	$6K	$191K	10x	as long as short
SunX QCOM-USDT	0.0000%	8h	195.80	−0.107%	$723	$4.6M	10x	as long as short
HTX QCOM-USDT	0.0000%	8h	196.00	−0.005%	$10K	$10K	20x	as long as short
Phemex QCOMUSDTshort	0.0000%	8h	195.88	−0.066%	$1.6M	$999K	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QCOM	+0.0032%	1h	195.71	−0.153%	—	—	10x	as long as short
QFEX QCOM-USD	+0.0062%	1h	195.94	−0.036%	$1.2M	$3.3M	10x	as long as short
KuCoin QCOMUSDTM	+0.0100%	8h	195.75	−0.133%	$319K	$547K	20x	as long as short
Variational Omni QCOM	+0.0116%	8h	195.89	−0.060%	$322K	$75K	—	as long as short
BloFin QCOM-USDT	+0.0141%	8h	196.04	+0.015%	$129K	$55K	20x	as long as short
Binance QCOMUSDT	+0.0167%	8h	195.94	−0.036%	$11.1M	$23.4M	20x	as long as short
Extended QCOM-USD	+0.0168%	1h	195.82	−0.099%	$107K	$412K	10x	as long as short
Injective QCOM/USDC PERP	+0.0220%	1h	215.37	+9.877%	$26K	$25K	12x	as long as short
Polymarket Perps QCOM-USD	+0.0249%	1h	196.02	+0.005%	$83K	$895K	10x	as long as short
Phoenix QCOMlong	+0.0449%	1h	196.01	long leg	$98K	$239K	10x
tradeXYZ xyz:QCOM	+0.0602%	1h	196.09	+0.041%	$7.4M	$2.3M	10x	as long as short