Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h +0.021%

Price spread now: Bitget against QFEX+0.111%46s7-day average +0.058% · 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—prices read too far apart to compare

costs, in and out, $10k−$610.611% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.014%+$1 on $10k

Price spread, last 7 days−0.080%−$8 · spread now +0.111%, 7d avg +0.058%

Together, before fees−0.065%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.053% dearer against QFEX than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of +0.058%): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 12 days. The two prices were read 46 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	QFEX WDC-USD	448.94	0.0015	pay 0.0002% / 1h	28m 48s	$1.1M	$3.8M	10x
Short	Bitget WDCUSDT	449.44	0	get 0.0000% / 8h	1h 28m	$1.2M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$3.09
Price spread: +0.111% → +0.058%: $5.3
Slippage, 4 orders: −$39.07
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$58.86
Costs to cover: 0.611%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Bitget: live order book, 2 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, 4 min ago	1.45 bp	7.5 bp −$8	10.5 bp −$105	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.45 bp	27.4 bp −$27	57.8 bp −$578	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
Aster WDCUSDT	0.0000%	8h	449.16	+0.049%	$20K	$105K	20x	as long as short
Extended WDC-USD	0.0000%	1h	449.35	+0.091%	$6K	$141K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	449.43	+0.108%	$7.8M	$25.6M	20x	as long as short
Bybit WDCUSDT	0.0000%	8h	449.56	+0.138%	$1.9M	$794K	25x	as long as short
Gate WDC_USDT	0.0000%	8h	449.10	+0.036%	$2.0M	$3.0M	50x	as long as short
Bitget WDCUSDTshort	0.0000%	8h	449.44	+0.111%	$1.2M	$1.2M	20x
GRVT WDC_USDT_Perp	0.0000%	8h	449.12	+0.040%	$1K	$177K	10x	as long as short
BloFin WDC-USDT	+0.0004%	8h	449.35	+0.091%	$146K	$94K	20x	as long as short
QFEX WDC-USDlong	+0.0015%	1h	448.94	long leg	$1.1M	$3.8M	10x
OKX WDC-USDT-SWAP	+0.0029%	8h	449.50	+0.125%	$2.2M	$4.1M	20x	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	448.97	+0.007%	—	—	10x	as long as short
tradeXYZ xyz:WDC	+0.0050%	1h	449.17	+0.051%	$2.4M	$2.5M	10x	as long as short
KuCoin WDCUSDTM	+0.0100%	8h	449.01	+0.016%	$299K	$17K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	449.04	+0.022%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	449.40	+0.102%	—	$2.6M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	449.57	+0.140%	$33K	$9K	10x	as long as short
edgeX WDCUSDC	+0.0211%	4h	449.15	+0.046%	$50K	$231K	10x	as long as short