Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.008%

Price spread now: QFEX against Bitget−0.039%56s7-day average −0.033% · 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−$5395.385% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.039%, 7d avg −0.033%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.033%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 56 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	Bitget COSTUSDT	901.16	0	get 0.0000% / 8h	3h 16m	$403K	$78K	25x
Short	QFEX COST-USD	900.81	0.0009	get 0.0001% / 1h	16m 47s	$1.1M	$2.5M	10x

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

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 BitgetbpFee QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $1.98
Price spread: −0.039% → −0.033%: −$0.54
Slippage, 4 orders: −$516.51
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$537.06
Costs to cover: 5.385%
Break-even: 1903.4 days

Slippage from Bitget: live order book, 29 min ago; QFEX: 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 Bitget live order book, 29 min ago	3.95 bp	13.3 bp −$13	24.5 bp −$245	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	252.06 bp	257.5 bp −$258	263.3 bp −$2,633	doesn't fit	doesn't fit

COST on 15 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 COSTUSDT	0.0000%	8h	900.98	−0.020%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	901.01	−0.017%	$1.1M	$952K	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	901.11	−0.006%	$491K	$220K	25x	as long as short
Gate COST_USDT	0.0000%	8h	900.97	−0.021%	$522K	$8K	25x	as long as short
Bitget COSTUSDTlong	0.0000%	8h	901.16	long leg	$403K	$78K	25x
Variational Omni COST	0.0000%	8h	900.86	−0.034%	$41K	$13K	—	as long as short
SunX COST-USDT	0.0000%	8h	899.70	−0.162%	$1K	$2.8M	10x	as long as short
HTX COST-USDT	0.0000%	8h	903.12	+0.217%	$10K	$42K	10x	as long as short
OKX COST-USDT-SWAP	+0.0006%	8h	901.44	+0.031%	$441K	$116K	10x	as long as short
QFEX COST-USDshort	+0.0009%	1h	900.81	−0.039%	$1.1M	$2.5M	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERP	+0.0033%	1h	891.98	−1.019%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.323%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	900.76	−0.044%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	900.70	−0.051%	$1.8M	$517K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	900.30	−0.095%	$47K	$891K	20x	as long as short