Funding you earn now, next payment 08:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h 0.000%
Price spread now: OKX against QFEX+0.201%7-day average −0.038% · 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−$70as in the Price arb table
costs, in and out, $10k−$930.934% of the position
Funding, last 4 days (all we have)0.000%$0 on $10k
+Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.201%, 7d avg −0.038%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.239% dearer against QFEX than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of −0.038%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX SMH-USD | 591.75 | 0 | get 0.0000% / 1h | 49m 05s | $1.1M | $6.2M | 10x |
| Short | OKX SMH-USDT-SWAP | 592.94 | 0.0048 | get 0.0048% / 8h | 49m 05s | $500K | $355K | 20x |
QFEX SMH-USD
OKX SMH-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against QFEX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $10.09
- Price spread: +0.201% → −0.038%
- $23.89
- Slippage, 4 orders
- −$73.41
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$59.43
- Costs to cover
- 0.934%
- Break-even
- 48.2 days
Slippage from QFEX: live order book, 5 min ago; OKX: live order book, 52 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, 5 min ago | 2.11 bp | 11.7 bp −$12 | 18.1 bp −$181 | doesn't fit | doesn't fit |
| Sell OKX live order book, 52 min ago | 2.19 bp | 56.8 bp −$57 | doesn't fit | doesn't fit | doesn't fit |
SMH 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SMHUSDT | −0.0014% | 8h | 592.68 | +0.157% | $684K | $49K | 20x | as long as short |
| BloFin SMH-USDT | −0.0011% | 8h | 592.46 | +0.120% | $47K | $29K | 20x | as long as short |
| Binance SMHUSDT | 0.0000% | 8h | 592.16 | +0.069% | $724K | $796K | 20x | as long as short |
| Bybit SMHUSDT | 0.0000% | 8h | 592.22 | +0.079% | $299K | $410K | 25x | as long as short |
| QFEX SMH-USDlong | 0.0000% | 1h | 591.75 | long leg | $1.1M | $6.2M | 10x | |
| Gate SMH_USDT | 0.0000% | 8h | 592.00 | +0.042% | $185K | $30K | 20x | as long as short |
| MEXC SMH_USDT | 0.0000% | 8h | 592.69 | +0.159% | $561K | $127K | 20x | as long as short |
| Vest SMH-USD-PERP | +0.0046% | 1h | 591.74 | −0.002% | — | — | 25x | as long as short |
| OKX SMH-USDT-SWAPshort | +0.0048% | 8h | 592.94 | +0.201% | $500K | $355K | 20x | |
| HTX SMH-USDT | +0.0100% | 8h | 593.37 | +0.274% | $7K | $46K | 10x | as long as short |
Bitget SMHUSDT
BloFin SMH-USDT
Binance SMHUSDT
Bybit SMHUSDT
Gate SMH_USDT
MEXC SMH_USDT
Vest SMH-USD-PERP
HTX SMH-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:SMH | +0.0565% | 1h | 592.47 | +0.122% | $3.2M | $2.0M | 20x | as long as short |
tradeXYZ xyz:SMH