Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h −0.011%

Price spread now: Binance against QFEX−0.019%7-day average +0.052% · 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−$48as in the Price arb table

costs, in and out, $10k−$410.412% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.019%+$2 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.019%, 7d avg +0.052%

Together, before fees+0.070%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.071% cheaper against QFEX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.052%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX WDC-USD	445.80	0.0018	pay 0.0002% / 1h	50m 53s	$1.1M	$3.2M	10x
Short	Binance WDCUSDT	445.72	0.0001	get 0.0001% / 8h	2h 50m	$7.3M	$25.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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

Position, each leg$Hold fordaysFee QFEXbpFee BinancebpOrdersPrice spread, now −0.019%Rate

Funding earned: −$3.5
Price spread: −0.019% → +0.052%: −$7.08
Slippage, 4 orders: −$21.21
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$51.8
Costs to cover: 0.412%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; Binance: 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 QFEX live order book, 7 min ago	1.35 bp	7.7 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	2.59 bp	10.0 bp −$10	32.8 bp −$328	146.0 bp −$14.6K	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	−0.0144%	8h	445.70	−0.022%	$1.1M	$1.1M	20x	as long as short
BloFin WDC-USDT	−0.0019%	8h	445.72	−0.018%	$143K	$94K	20x	as long as short
Aster WDCUSDT	0.0000%	8h	445.40	−0.090%	$10K	$115K	20x	as long as short
Extended WDC-USD	0.0000%	1h	445.60	−0.044%	$6K	$165K	10x	as long as short
Bybit WDCUSDT	0.0000%	8h	445.55	−0.056%	$1.9M	$865K	25x	as long as short
Gate WDC_USDT	0.0000%	8h	445.50	−0.067%	$1.9M	$2.4M	50x	as long as short
GRVT WDC_USDT_Perp	0.0000%	8h	445.94	+0.031%	$531	$155K	10x	as long as short
Binance WDCUSDTshort	+0.0001%	8h	445.72	−0.019%	$7.3M	$25.2M	20x
QFEX WDC-USDlong	+0.0018%	1h	445.80	long leg	$1.1M	$3.2M	10x
Lighter WDC	+0.0032%	1h	445.10	−0.157%	—	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:WDC	+0.0063%	1h	445.39	−0.092%	$2.4M	$2.1M	10x	as long as short
OKX WDC-USDT-SWAP	+0.0073%	8h	445.84	+0.009%	$2.1M	$4.1M	20x	as long as short
KuCoin WDCUSDTM	+0.0100%	8h	445.33	−0.105%	$273K	$45K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	445.67	−0.029%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	446.10	+0.067%	—	$2.4M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	446.05	+0.056%	$33K	$8K	10x	as long as short
edgeX WDCUSDC	+0.0244%	4h	445.71	−0.021%	$49K	$230K	10x	as long as short