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Funding arb · Price arb /

COIN

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0726%/8h= +79.5% APRpaid last 24h +0.011%
Price spread now: QFEX against Bitget−0.056%46s7-day average −0.063% · 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−$380.377% of the position
Long on BitgetShort on QFEX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.018%+$2 on $10k
Price spread, last 7 days+0.016%+$2 · spread now −0.056%, 7d avg −0.063%
Together, before fees+0.034%+$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.063%, so right now this pair is about funding alone: +$22 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.018% in total (about 1.7% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget COINUSDT195.77−0.0681get 0.0681% / 8h1h 43m$6.3M$10.7M20x
ShortQFEX COIN-USD195.660.0045get 0.0006% / 1h43m 47s$1.3M$3.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX against Bitget. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$152.55
Price spread: −0.056% → −0.063%
$0.71
Slippage, 4 orders
−$15.68
Fee Bitget: 6 bp × 2 orders
−$12
Fee QFEX: 5 bp × 2 orders
−$10
Net
$115.59
Costs to cover
0.377%
Break-even
1.7 days
Slippage from Bitget: live order book, 5 min ago; QFEX: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bitget live order book, 5 min ago1.79 bp11.7 bp −$1222.6 bp −$226doesn't fitdoesn't fit
Sell QFEX live order book, 4 min ago1.79 bp6.8 bp −$78.6 bp −$86doesn't fitdoesn't fit

COIN on 26 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget COINUSDTlong−0.0681%8h195.77long leg$6.3M$10.7M20x
Injective COIN/USDC PERP−0.0440%1h195.49−0.143%$43K$48K30xas long as short
Vest COIN-USD-PERP−0.0100%1h194.91−0.439%—$289K25xas long as short
Gate COIN_USDT−0.0027%8h195.62−0.077%$1.2M$7.3M50xas long as short
Aster COINUSDT0.0000%8h195.49−0.143%$341K$890K20xas long as short
Extended COIN_24_5-USD0.0000%1h195.55−0.114%$112K$849K10xas long as short
Binance COINUSDT0.0000%8h195.58−0.097%$15.0M$82.4M20xas long as short
Bybit COINUSDT0.0000%8h195.59−0.092%$4.7M$6.3M50xas long as short
OKX COIN-USDT-SWAP0.0000%8h195.67−0.051%$3.0M$4.7M20xas long as short
Variational Omni COIN0.0000%8h195.40−0.189%$709K$959K—as long as short
Show all 26 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GRVT COIN_USDT_Perp0.0000%8h195.55−0.112%$16K$2.7M10xas long as short
Lighter RH COIN+0.0032%1h195.43−0.174%$460K$1.5M10xas long as short
Arcus COIN-USD+0.0040%1h195.71−0.031%$15K$54K5xas long as short
QFEX COIN-USDshort+0.0045%1h195.66−0.056%$1.3M$3.0M10x
Polymarket Perps COIN-USD+0.0050%1h195.54−0.117%$129K$1.4M10xas long as short
SoDEX COIN-USD+0.0050%1h195.60−0.087%$83$3K10xas long as short
Ondo Perps COIN-USD.P+0.0050%1h195.39−0.194%$447K$2.9M10xas long as short
KuCoin COINUSDTM+0.0100%8h195.45−0.163%$985K$137K20xas long as short
ApeX Omni COINUSDT+0.0100%1h195.35−0.215%$88K$287K50xas long as short
Orderly PERP_COIN_USDC_mythos+0.0100%8h195.61−0.082%$566$4K10xas long as short
Aevo COIN-PERP+0.0104%1h195.62−0.079%$115—10xas long as short
tradeXYZ xyz:COIN+0.0110%1h195.39−0.194%$15.2M$13.9M10xas long as short
BloFin COIN-USDT+0.0120%8h195.79+0.010%$188K$424K20xas long as short
Lighter COIN+0.0136%1h195.43−0.174%$362K$2.3M10xas long as short
Phoenix COIN+0.0163%1h195.36−0.209%$4K$283K10xas long as short
edgeX COINUSDC+0.0919%4h195.53−0.123%$51K$296K10xas long as short