Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0059%/8h= +6.4% APRpaid last 24h +0.008%

Price spread now: QFEX against OKX−0.025%7-day average −0.069% · 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−$49as in the Price arb table

costs, in and out, $10k−$530.532% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 7 days−0.042%−$4 · spread now −0.025%, 7d avg −0.069%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.044% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WDC-USDT-SWAP	442.97	0	get 0.0000% / 8h	8m 28s	$2.0M	$4.3M	20x
Short	QFEX WDC-USD	442.86	0.0059	get 0.0007% / 1h	8m 28s	$1.1M	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. 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 OKXbpFee QFEXbpOrdersPrice spread, now −0.025%Rate

Funding earned: $12.3
Price spread: −0.025% → −0.069%: $4.38
Slippage, 4 orders: −$33.16
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$36.48
Costs to cover: 0.532%
Break-even: 27.8 days

Slippage from OKX: live order book, 4 min ago; QFEX: live order book, 5 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 OKX live order book, 4 min ago	1.13 bp	18.5 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.47 bp	8.4 bp −$8	12.3 bp −$123	doesn't fit	doesn't fit

WDC on 17 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 WDCUSDT	−0.0383%	8h	443.07	+0.023%	$1.1M	$1.1M	20x	as long as short
edgeX WDCUSDC	−0.0121%	4h	442.72	−0.057%	$49K	$229K	10x	as long as short
BloFin WDC-USDT	−0.0005%	8h	443.00	+0.007%	$140K	$95K	20x	as long as short
Aster WDCUSDT	0.0000%	8h	442.74	−0.052%	$10K	$136K	20x	as long as short
Extended WDC-USD	0.0000%	1h	442.81	−0.036%	$5K	$189K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	442.91	−0.014%	$7.3M	$25.4M	20x	as long as short
Bybit WDCUSDT	0.0000%	8h	442.85	−0.027%	$1.9M	$712K	25x	as long as short
OKX WDC-USDT-SWAPlong	0.0000%	8h	442.97	long leg	$2.0M	$4.3M	20x
Gate WDC_USDT	0.0000%	8h	442.90	−0.016%	$1.9M	$2.5M	50x	as long as short
GRVT WDC_USDT_Perp	+0.0026%	8h	442.81	−0.037%	$527	$146K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter WDC	+0.0032%	1h	442.70	−0.061%	—	—	10x	as long as short
tradeXYZ xyz:WDC	+0.0050%	1h	442.75	−0.050%	$2.3M	$2.1M	10x	as long as short
QFEX WDC-USDshort	+0.0059%	1h	442.86	−0.025%	$1.1M	$3.0M	10x
KuCoin WDCUSDTM	+0.0100%	8h	442.75	−0.050%	$273K	$53K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	442.71	−0.059%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	442.80	−0.038%	—	$2.4M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	443.36	+0.088%	$33K	$8K	20x	as long as short