Funding you earn now, next payment 09:00 UTC−0.0092%/8h= −10.1% APRnext payment −$0.12 per $10,000 · paid last 24h −0.017%
Price spread now: QFEX against Polymarket Perps−0.037%54s7-day average +0.005% · 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—prices read too far apart to compare
costs, in and out, $10k−$1,09810.984% of the position
Funding, last 4 days (all we have)−0.042%−$4 on $10k
+Price spread, last 7 days+0.034%+$3 · spread now −0.037%, 7d avg +0.005%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and QFEX is 0.043% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 54 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 | Polymarket Perps SP500-USD | 7,746.3 | 0.0050 | pay 0.0006% / 1h | 30m 38s | $9.0M | $2.2M | 50x |
| Short | QFEX US500-USD | 7,743.4 | −0.0042 | pay 0.0005% / 1h | 30m 38s | $9.9M | $3.1M | 30x |
Polymarket Perps SP500-USD
QFEX US500-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Polymarket Perps. 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
- −$19.34
- Price spread: −0.037% → +0.005%
- −$4.27
- Slippage, 4 orders
- −$1,080.38
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$1,121.98
- Costs to cover
- 10.984%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 4 min ago; QFEX: live order book, 3 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 Polymarket Perps live order book, 4 min ago | 196.08 bp | 548.6 bp −$549 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 3 min ago | 1.49 bp | 6.5 bp −$6 | 9.6 bp −$96 | doesn't fit | doesn't fit |
SP500 on 18 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective US500/USDC PERP | −0.0220% | 1h | 7,663.3 | −1.071% | $7K | $104 | 52x | as long as short |
| Extended SPX500m-USD | −0.0056% | 1h | 7,745.6 | −0.009% | $3.3M | $11.2M | 25x | as long as short |
| QFEX US500-USDshort | −0.0042% | 1h | 7,743.4 | −0.037% | $9.9M | $3.1M | 30x | |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,753.2 | +0.089% | $141K | $229K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,751.4 | +0.066% | $7.2M | $768K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,722 | −0.314% | $17.5M | $8.3M | — | as long as short |
| Bullet US500-USD | 0.0000% | 1h | 7,744.5 | −0.024% | $13K | $105K | 10x | as long as short |
| tradeXYZ xyz:SP500 | +0.0002% | 1h | 7,743.3 | −0.039% | $427.9M | $238.1M | 50x | as long as short |
| Lighter US500 | +0.0032% | 1h | 7,743.2 | −0.040% | $2.0M | $28.1M | 50x | as long as short |
| Markets by Kinetiq mkts:US500 | +0.0046% | 1h | 7,716.1 | −0.390% | $1.6M | $7.5M | 25x | as long as short |
Injective US500/USDC PERP
Extended SPX500m-USD
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
Bullet US500-USD
tradeXYZ xyz:SP500
Lighter US500
Markets by Kinetiq mkts:US500Show all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,812.3 | +0.851% | — | $4.3M | 50x | as long as short |
| Popdex US500USDT | +0.0048% | 1h | 7,746.8 | +0.006% | $623K | $508K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,743.2 | −0.040% | $42K | — | 5x | as long as short |
| Polymarket Perps SP500-USDlong | +0.0050% | 1h | 7,746.3 | long leg | $9.0M | $2.2M | 50x | |
| SoDEX US500-USD | +0.0050% | 1h | 7,744 | −0.030% | $1.3M | $191K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,745 | −0.017% | $9.5M | $8.3M | 25x | as long as short |
| Pacifica SP500 | +0.0100% | 1h | 7,745.8 | −0.007% | $258K | $173K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0328% | 1h | 7,745.9 | −0.005% | $510 | $30K | 10x | as long as short |
Vest SPX-USD-PERP
Popdex US500USDT
Paradex US500-USD-PERP
SoDEX US500-USD
Ondo Perps US500-USD.P
Pacifica SP500
Aftermath Perps US500USD