Funding arb · Price arb /

SHAZ

RWAall SHAZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0559%/8h= −61.2% APRpaid last 24h −0.023%

Price spread now: Binance against QFEX+1.322%7-day average −0.435% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$412as in the Price arb table

costs, in and out, $10k−$5875.873% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.081%−$8 on $10k

Price spread, last 7 days−1.484%−$148 · spread now +1.322%, 7d avg −0.435%

Together, before fees−1.565%−$156 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 1.757% dearer against QFEX than usual: you sell high and buy low (spread +1.322% now, against its 7-day average of −0.435%): +$176 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 4 days (−0.081% in total) that is about 3 months.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.081% in total (about -7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SHAZ-USD	58.500	0	get 0.0000% / 1h	1m 16s	$1.1M	$1.8M	10x
Short	Binance SHAZUSDT	59.273	−0.0559	pay 0.0559% / 8h	6h 01m	$476K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpOrdersPrice spread, now +1.322%Rate

Funding earned: −$117.37
Price spread: +1.322% → −0.435%: $175.67
Slippage, 4 orders: −$567.26
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$528.96
Costs to cover: 5.873%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Binance: live order book, 11 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, 4 min ago	124.10 bp	129.1 bp −$129	129.9 bp −$1,299	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	5.10 bp	59.6 bp −$60	152.4 bp −$1,524	doesn't fit	doesn't fit

SHAZ on 11 exchanges

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
Variational Omni SHAZ	−0.0766%	8h	59.121	+1.062%	$23K	$36K	—	as long as short
Binance SHAZUSDTshort	−0.0559%	8h	59.273	+1.322%	$476K	$2.0M	10x
OKX SHAZ-USDT-SWAP	0.0000%	8h	59.210	+1.214%	$444K	$262K	10x	as long as short
QFEX SHAZ-USDlong	0.0000%	1h	58.500	long leg	$1.1M	$1.8M	10x
Gate SHAZ_USDT	0.0000%	8h	59.130	+1.077%	$183K	$41K	20x	as long as short
Bitget SHAZUSDT	0.0000%	8h	59.210	+1.214%	$196K	$158K	20x	as long as short
HTX SHAZ-USDT	0.0000%	8h	59.283	+1.338%	$6K	$39K	10x	as long as short
edgeX SHAZUSDC	+0.0046%	4h	59.229	+1.246%	$17K	$292K	10x	as long as short
KuCoin SHAZUSDTM	+0.0100%	8h	59.310	+1.385%	$77K	$508K	20x	as long as short
tradeXYZ xyz:SHAZ	+0.1465%	1h	59.376	+1.497%	$1.2M	$299K	10x	as long as short

Show all 11 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SHAZUSDT	+0.1542%	8h	59.330	+1.419%	$154K	$444K	25x	as long as short