Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0045%/8h= −4.9% APRpaid last 24h +0.030%

Price spread now: BloFin against QFEX+0.073%7-day average +0.026% · 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−$29as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.073%, 7d avg +0.026%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.048% dearer against QFEX than usual: you sell high and buy low (spread +0.073% now, against its 7-day average of +0.026%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX WDC-USD	449.32	0.0069	pay 0.0009% / 1h	44m 12s	$1.1M	$3.9M	10x
Short	BloFin WDC-USDT	449.65	0.0024	get 0.0024% / 8h	44m 12s	$145K	$93K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$9.4
Price spread: +0.073% → +0.026%: $4.77
Slippage, 4 orders: −$12.01
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$38.64
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; BloFin: live order book, 17 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	1.56 bp	6.8 bp −$7	10.5 bp −$105	doesn't fit	doesn't fit
Sell BloFin live order book, 17 min ago	0.22 bp	11.7 bp −$12	19.6 bp −$196	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
edgeX WDCUSDC	−0.0179%	4h	449.63	+0.070%	$50K	$231K	10x	as long as short
Aster WDCUSDT	0.0000%	8h	449.43	+0.025%	$20K	$105K	20x	as long as short
Extended WDC-USD	0.0000%	1h	449.28	−0.009%	$6K	$140K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	449.36	+0.009%	$7.7M	$25.5M	20x	as long as short
Gate WDC_USDT	0.0000%	8h	449.30	−0.004%	$2.0M	$2.9M	50x	as long as short
Bitget WDCUSDT	0.0000%	8h	449.48	+0.036%	$1.2M	$1.2M	20x	as long as short
GRVT WDC_USDT_Perp	0.0000%	8h	449.69	+0.082%	$715	$177K	10x	as long as short
BloFin WDC-USDTshort	+0.0024%	8h	449.65	+0.073%	$145K	$93K	20x
Lighter WDC	+0.0032%	1h	449.13	−0.042%	—	—	10x	as long as short
Bybit WDCUSDT	+0.0044%	8h	449.56	+0.053%	$1.9M	$803K	25x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WDC-USDT-SWAP	+0.0047%	8h	449.65	+0.073%	$2.2M	$4.1M	20x	as long as short
QFEX WDC-USDlong	+0.0069%	1h	449.32	long leg	$1.1M	$3.9M	10x
KuCoin WDCUSDTM	+0.0100%	8h	449.20	−0.027%	$299K	$17K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	449.20	−0.027%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	449.50	+0.040%	—	$2.7M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	449.58	+0.058%	$33K	$9K	10x	as long as short
tradeXYZ xyz:WDC	+0.0221%	1h	449.36	+0.009%	$2.4M	$2.5M	10x	as long as short