Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: QFEX against Bybit+0.451%7-day average +0.108% · 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−$289as in the Price arb table

costs, in and out, $10k−$3233.235% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.448%−$45 · spread now +0.451%, 7d avg +0.108%

Together, before fees−0.450%−$45 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.343% dearer against Bybit than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of +0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BXUSDT	126.38	0	get 0.0000% / 8h	1h 41m	$482K	$803K	25x
Short	QFEX BX-USD	126.95	0	get 0.0000% / 1h	41m 34s	$1.1M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now +0.451%Rate

Funding earned: $0
Price spread: +0.451% → +0.108%: $34.35
Slippage, 4 orders: −$302.45
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$289.1
Costs to cover: 3.235%
Break-even: never at this rate

Slippage from Bybit: live order book, 63 min ago; QFEX: 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 Bybit live order book, 63 min ago	1.58 bp	90.5 bp −$90	222.5 bp −$2,225	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	2.36 bp	70.7 bp −$71	71.8 bp −$718	79.6 bp −$7,956	doesn't fit

BX on 14 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 BXUSDT	0.0000%	8h	126.26	−0.095%	$5K	$2K	20x	as long as short
Binance BXUSDT	0.0000%	8h	126.37	−0.009%	$776K	$489K	20x	as long as short
Bybit BXUSDTlong	0.0000%	8h	126.38	long leg	$482K	$803K	25x
OKX BX-USDT-SWAP	0.0000%	8h	126.29	−0.071%	$163K	$112K	20x	as long as short
QFEX BX-USDshort	0.0000%	1h	126.95	+0.451%	$1.1M	$1.5M	10x
Gate BX_USDT	0.0000%	8h	126.44	+0.047%	$422K	$25K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.42	+0.032%	$900K	$37K	20x	as long as short
Variational Omni BX	0.0000%	8h	126.36	−0.014%	$43K	$12K	—	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.42	+0.035%	$939	$105K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.37	−0.008%	$452	$303K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BX-USDT	0.0000%	8h	126.47	+0.071%	$7K	$4K	20x	as long as short
tradeXYZ xyz:BX	+0.0050%	1h	126.21	−0.135%	$664K	$222K	10x	as long as short
KuCoin BXUSDTM	+0.0100%	8h	126.19	−0.150%	$115K	$813K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.74	+9.780%	$4K	$32K	12x	as long as short