Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.018%

Price spread now: QFEX against Orderly+0.025%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. QFEX is 0.025% dearer against Orderly than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WDC_USDC_mythos	444.46	0.0100	pay 0.0100% / 8h	5h 52m	$9K	$2K	10x
Short	QFEX WDC-USD	444.57	0.0067	get 0.0008% / 1h	52m 19s	$1.1M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Orderly. 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 OrderlybpFee QFEXbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$6.88
Price spread: +0.025% → 0.000%: $2.47
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$20.41
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; QFEX: live order book, 4 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell QFEX live order book, 4 min ago	1.24 bp	8.7 bp −$9	14.8 bp −$148	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

WDC on 17 exchanges

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
BloFin WDC-USDT	−0.0027%	8h	444.94	+0.108%	$137K	$100K	20x	as long as short
Aster WDCUSDT	0.0000%	8h	444.20	−0.059%	$10K	$136K	20x	as long as short
Extended WDC-USD	0.0000%	1h	444.70	+0.054%	$4K	$193K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	444.87	+0.092%	$7.3M	$26.3M	20x	as long as short
Bybit WDCUSDT	0.0000%	8h	445.00	+0.121%	$1.9M	$712K	25x	as long as short
OKX WDC-USDT-SWAP	0.0000%	8h	444.94	+0.108%	$2.0M	$4.5M	20x	as long as short
Gate WDC_USDT	0.0000%	8h	444.70	+0.054%	$1.9M	$2.1M	50x	as long as short
Bitget WDCUSDT	0.0000%	8h	444.99	+0.119%	$1.1M	$1.1M	20x	as long as short
Lighter WDC	+0.0032%	1h	444.14	−0.072%	—	—	10x	as long as short
tradeXYZ xyz:WDC	+0.0050%	1h	444.40	−0.013%	$2.3M	$2.1M	10x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX WDC-USDshort	+0.0067%	1h	444.57	+0.025%	$1.1M	$3.1M	10x
Orderly PERP_WDC_USDC_mythoslong	+0.0100%	8h	444.46	long leg	$9K	$2K	10x
KuCoin WDCUSDTM	+0.0100%	8h	444.37	−0.020%	$274K	$204K	20x	as long as short
SunX WDC-USDT	+0.0100%	8h	445.00	+0.121%	—	$1.7M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	445.01	+0.124%	$33K	$7K	20x	as long as short
GRVT WDC_USDT_Perp	+0.0317%	8h	444.65	+0.044%	$529	$136K	10x	as long as short
edgeX WDCUSDC	+0.0513%	4h	444.35	−0.024%	$49K	$228K	10x	as long as short