Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1424%/8h= +155.9% APRpaid last 24h +0.006%

Price spread now: Binance against QFEX+0.301%7-day average +0.104% · 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−$879as in the Price arb table

costs, in and out, $10k−$8998.986% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 2 days (all we have)−0.104%−$10 · spread now +0.301%, 7d avg +0.104%

Together, before fees−0.127%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and Binance is 0.198% dearer against QFEX than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.104%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.023% in total (about -2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BX-USD	126.14	0	get 0.0000% / 1h	41m 21s	$1.1M	$1.3M	10x
Short	Binance BXUSDT	126.52	0.1424	get 0.1424% / 8h	41m 21s	$802K	$458K	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 +0.301%Rate

Funding earned: $298.94
Price spread: +0.301% → +0.104%: $19.77
Slippage, 4 orders: −$878.62
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$579.92
Costs to cover: 8.986%
Break-even: 20.6 days

Slippage from QFEX: live order book, 5 min ago; Binance: live order book, 6 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, 5 min ago	193.80 bp	609.0 bp −$609	620.7 bp −$6,207	626.8 bp −$62.7K	doesn't fit
Sell Binance live order book, 6 min ago	1.18 bp	33.3 bp −$33	145.6 bp −$1,456	doesn't fit	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	126.23	+0.075%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.60	+0.365%	$496K	$858K	25x	as long as short
QFEX BX-USDlong	0.0000%	1h	126.14	long leg	$1.1M	$1.3M	10x
Gate BX_USDT	0.0000%	8h	126.77	+0.499%	$426K	$20K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.68	+0.428%	$903K	$44K	20x	as long as short
SunX BX-USDT	0.0000%	8h	126.61	+0.373%	$703	$303K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.71	+0.452%	$7K	$3K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.57	+9.854%	$4K	$32K	12x	as long as short
OKX BX-USDT-SWAP	+0.0258%	8h	126.49	+0.277%	$163K	$109K	20x	as long as short
tradeXYZ xyz:BX	+0.0442%	1h	126.38	+0.190%	$663K	$181K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.1056%	8h	126.47	+0.262%	$112K	$1.1M	20x	as long as short
Variational Omni BX	+0.1076%	8h	126.56	+0.332%	$31K	$127	—	as long as short
Binance BXUSDTshort	+0.1424%	8h	126.52	+0.301%	$802K	$458K	20x
GRVT BX_USDT_Perp	+0.2200%	8h	126.62	+0.377%	$612	$122K	10x	as long as short