Funding arb · Price arb /

SHAZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0886%/8h= −97.0% APRpaid last 24h +0.214%

Price spread now: KuCoin against QFEX−0.085%7-day average −0.821% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$1,946as in the Price arb table

costs, in and out, $10k−$2,02020.200% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.310%+$31 on $10k

Price spread, last 4 days (all we have)+0.168%+$17 · spread now −0.085%, 7d avg −0.821%

Together, before fees+0.478%+$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.735% dearer against QFEX than usual: you sell high and buy low (spread −0.085% now, against its 7-day average of −0.821%): +$74 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 2.8 days. Mind the row above: over the last 4 days funding on this pair paid +0.310%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.310% in total (about 30.2% 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	58.620	0	get 0.0000% / 1h	10m 27s	$1.1M	$1.8M	10x
Short	KuCoin SHAZUSDTM	58.570	−0.0886	pay 0.0886% / 8h	10m 27s	$71K	$360K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$186.06
Price spread: −0.085% → −0.821%: $73.53
Slippage, 4 orders: −$1,998.01
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$2,132.54
Costs to cover: 20.200%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; KuCoin: live order book, 22 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, 2 min ago	2.56 bp	145.5 bp −$145	159.3 bp −$1,593	doesn't fit	doesn't fit
Sell KuCoin live order book, 22 min ago	21.18 bp	1364.5 bp −$1,364	doesn't fit	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	−0.2240%	8h	58.630	+0.017%	$473K	$2.0M	10x	as long as short
Variational Omni SHAZ	−0.1924%	8h	58.588	−0.055%	$25K	$34K	—	as long as short
tradeXYZ xyz:SHAZ	−0.1182%	1h	58.525	−0.162%	$1.2M	$294K	10x	as long as short
KuCoin SHAZUSDTMshort	−0.0886%	8h	58.570	−0.085%	$71K	$360K	20x
edgeX SHAZUSDC	−0.0777%	4h	58.521	−0.168%	$16K	$292K	10x	as long as short
Bybit SHAZUSDT	−0.0616%	8h	58.650	+0.051%	$156K	$435K	25x	as long as short
OKX SHAZ-USDT-SWAP	−0.0235%	8h	58.630	+0.017%	$440K	$263K	10x	as long as short
QFEX SHAZ-USDlong	0.0000%	1h	58.620	long leg	$1.1M	$1.8M	10x
Gate SHAZ_USDT	0.0000%	8h	58.640	+0.034%	$181K	$39K	20x	as long as short
Bitget SHAZUSDT	0.0000%	8h	58.540	−0.136%	$201K	$161K	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	58.721	+0.172%	$6K	$40K	10x	as long as short