Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h +0.041%

Price spread now: GRVT against QFEX−0.029%57s7-day average +0.011% · 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—prices read too far apart to compare

costs, in and out, $10k−$390.389% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.045%+$5 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.029%, 7d avg +0.011%

Together, before fees+0.046%+ Points / potential airdropGRVT: Active · farm board+$5 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 GRVT is 0.040% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.011%). Swap the legs. The two prices were read 57 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	449.73	0.0031	pay 0.0004% / 1h	54m 26s	$1.1M	$4.0M	10x
Short	GRVT WDC_USDT_Perp	449.60	0	get 0.0000% / 8h	7h 54m	$1K	$171K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$6.47
Price spread: −0.029% → +0.011%: −$4.01
Slippage, 4 orders: −$19.9
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$49.38
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from QFEX: live order book, 9 min ago; GRVT: live order book, 13 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, 9 min ago	1.34 bp	6.3 bp −$6	10.3 bp −$103	doesn't fit	doesn't fit
Sell GRVT live order book, 13 min ago	1.56 bp	13.2 bp −$13	doesn't fit	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
BloFin WDC-USDT	−0.0024%	8h	449.74	+0.002%	$145K	$94K	20x	as long as short
Aster WDCUSDT	0.0000%	8h	449.10	−0.140%	$11K	$115K	20x	as long as short
Extended WDC-USD	0.0000%	1h	449.57	−0.036%	$6K	$136K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	449.75	+0.004%	$7.7M	$25.4M	20x	as long as short
Gate WDC_USDT	0.0000%	8h	449.50	−0.051%	$2.0M	$2.6M	50x	as long as short
Bitget WDCUSDT	0.0000%	8h	449.60	−0.029%	$1.2M	$1.2M	20x	as long as short
GRVT WDC_USDT_Perpshort	0.0000%	8h	449.60	−0.029%	$1K	$171K	10x
OKX WDC-USDT-SWAP	+0.0014%	8h	450.02	+0.064%	$2.2M	$4.1M	20x	as long as short
QFEX WDC-USDlong	+0.0031%	1h	449.73	long leg	$1.1M	$4.0M	10x
Lighter WDC	+0.0032%	1h	448.93	−0.178%	—	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin WDCUSDTM	+0.0100%	8h	449.31	−0.093%	$299K	$17K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	449.44	−0.064%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	449.90	+0.038%	—	$2.6M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	449.67	−0.013%	$33K	$9K	10x	as long as short
tradeXYZ xyz:WDC	+0.0165%	1h	449.61	−0.027%	$2.4M	$2.2M	10x	as long as short
edgeX WDCUSDC	+0.0287%	4h	449.56	−0.039%	$50K	$230K	10x	as long as short
Bybit WDCUSDT	+0.0461%	8h	449.73	0.000%	$1.9M	$787K	25x	as long as short