Funding arb · Price arb /

SHAZ

RWAall SHAZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0796%/8h= −87.2% APRpaid last 24h +0.031%

Price spread now: Bybit against QFEX+0.153%53s7-day average −0.914% · 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—prices read too far apart to compare

costs, in and out, $10k−$4954.953% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.215%−$21 · spread now +0.153%, 7d avg −0.914%

Together, before fees−0.211%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 1.066% dearer against QFEX than usual: you sell high and buy low (spread +0.153% now, against its 7-day average of −0.914%): +$107 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 4.5 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.004% in total (about 0.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SHAZ-USD	59.000	0	get 0.0000% / 1h	5m 49s	$1.2M	$1.8M	10x
Short	Bybit SHAZUSDT	59.090	−0.0796	pay 0.0796% / 8h	1h 05m	$155K	$429K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now +0.153%Rate

Funding earned: −$167.22
Price spread: +0.153% → −0.914%: $106.64
Slippage, 4 orders: −$474.35
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$555.92
Costs to cover: 4.953%
Break-even: never at this rate

Slippage from QFEX: live order book, 1 min ago; Bybit: live order book, 28 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, 1 min ago	64.52 bp	190.9 bp −$191	193.3 bp −$1,933	doesn't fit	doesn't fit
Sell Bybit live order book, 28 min ago	5.08 bp	126.6 bp −$127	241.1 bp −$2,411	doesn't fit	doesn't fit

SHAZ on 11 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
Binance SHAZUSDT	−0.2145%	8h	58.994	−0.010%	$478K	$1.9M	10x	as long as short
Variational Omni SHAZ	−0.1869%	8h	58.960	−0.068%	$20K	$30K	—	as long as short
tradeXYZ xyz:SHAZ	−0.1304%	1h	58.962	−0.064%	$1.2M	$285K	10x	as long as short
KuCoin SHAZUSDTM	−0.0802%	8h	58.990	−0.017%	$72K	$352K	20x	as long as short
Bybit SHAZUSDTshort	−0.0796%	8h	59.090	+0.153%	$155K	$429K	25x
edgeX SHAZUSDC	−0.0677%	4h	58.961	−0.066%	$17K	$290K	10x	as long as short
OKX SHAZ-USDT-SWAP	−0.0342%	8h	58.940	−0.102%	$442K	$267K	10x	as long as short
QFEX SHAZ-USDlong	0.0000%	1h	59.000	long leg	$1.2M	$1.8M	10x
Gate SHAZ_USDT	0.0000%	8h	59.030	+0.051%	$182K	$40K	20x	as long as short
Bitget SHAZUSDT	0.0000%	8h	58.940	−0.102%	$204K	$160K	20x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SHAZ-USDT	0.0000%	8h	59.160	+0.271%	$6K	$40K	10x	as long as short