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Funding arb · Price arb /

TTWO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.7364%/8h= +806.3% APRnext payment +$9.20 per $10,000 · paid last 24h +0.162%
Price spread now: Paragon against QFEX+0.620%7-day average +0.036% · 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−$209as in the Price arb table
costs, in and out, $10k−$2672.671% of the position
Long on QFEXShort on Paragon
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.722%+$72 on $10k
Price spread, last 7 days−0.444%−$44 · spread now +0.620%, 7d avg +0.036%
Together, before fees+0.278%+$28 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$221 a day on $10k at the current rate, and Paragon is 0.584% dearer against QFEX than usual: you sell high and buy low: +$58 more if the spread goes back to its 7-day average of +0.036%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.722% in total (about 73.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$9.20 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX TTWO-USD209.820.0024pay 0.0003% / 1h13m 06s$1.2M$3.0M10x
ShortParagon para:TTWO211.120.7388get 0.0924% / 1h13m 06s$1.1M$149K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paragon 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

Funding earned
$1,546.36
Price spread: +0.620% → +0.036%
$58.4
Slippage, 4 orders
−$247.09
Fee QFEX: 5 bp × 2 orders
−$10
Fee Paragon: 5 bp × 2 orders
−$10
Net
$1,337.66
Costs to cover
2.671%
Break-even
0.9 days
Slippage from QFEX: live order book, 5 min ago; Paragon: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy QFEX live order book, 5 min ago77.61 bp86.2 bp −$8693.4 bp −$934doesn't fitdoesn't fit
Sell Paragon live order book, 3 min ago42.57 bp47.8 bp −$48185.8 bp −$1,858doesn't fitdoesn't fit

TTWO on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit TTWOUSDT0.0000%8h210.21+0.186%$1.8M$215K25xas long as short
OKX TTWO-USDT-SWAP0.0000%8h210.21+0.186%$326K$90K25xas long as short
Gate TTWO_USDT0.0000%8h210.20+0.181%$714K$13K20xas long as short
Bitget TTWOUSDT0.0000%8h209.98+0.076%$892K$90K20xas long as short
QFEX TTWO-USDlong+0.0024%1h209.82long leg$1.2M$3.0M10x
Lighter TTWO+0.0032%1h209.66−0.076%——5xas long as short
Extended TTWO-USD+0.0040%1h209.89+0.033%$75K$2K10xas long as short
Ondo Perps TTWO-USD.P+0.0050%1h210.00+0.086%$332K$204K10xas long as short
Variational Omni TTWO+0.0053%8h210.03+0.098%$80K$55K—as long as short
KuCoin TTWOUSDTM+0.0100%8h209.78−0.019%$93K$1.0M20xas long as short
Show all 13 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX TTWO-USDT+0.0100%8h210.14+0.153%$3K$38K10xas long as short
Binance TTWOUSDT+0.0134%8h210.07+0.119%$2.3M$904K25xas long as short
Paragon para:TTWOshort+0.7388%1h211.12+0.620%$1.1M$149K10x