Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h +0.006%

Price spread now: QFEX against OKX−0.091%7-day average −0.053% · 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−$556as in the Price arb table

costs, in and out, $10k−$5525.521% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.091%, 7d avg −0.053%

Together, before fees+0.030%+$3 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 0.039% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX COST-USDT-SWAP	899.38	0	get 0.0000% / 8h	5h 50m	$444K	$106K	10x
Short	QFEX COST-USD	898.56	0.0005	get 0.0001% / 1h	50m 07s	$1.1M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. 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 OKXbpFee QFEXbpOrdersPrice spread, now −0.091%Rate

Funding earned: $0.97
Price spread: −0.091% → −0.053%: −$3.85
Slippage, 4 orders: −$532.07
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$554.95
Costs to cover: 5.521%
Break-even: 3993.7 days

Slippage from OKX: live order book, 11 min ago; QFEX: live order book, 3 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 OKX live order book, 11 min ago	4.39 bp	27.0 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	251.15 bp	256.3 bp −$256	261.1 bp −$2,611	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	898.99	−0.044%	$45K	$178	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	898.75	−0.070%	$491K	$218K	25x	as long as short
OKX COST-USDT-SWAPlong	0.0000%	8h	899.38	long leg	$444K	$106K	10x
Gate COST_USDT	0.0000%	8h	898.86	−0.058%	$520K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	898.71	−0.074%	$403K	$110K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.20	−0.131%	$2K	$3.0M	10x	as long as short
HTX COST-USDT	0.0000%	8h	899.82	+0.049%	$10K	$42K	10x	as long as short
QFEX COST-USDshort	+0.0005%	1h	898.56	−0.091%	$1.1M	$2.9M	10x
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.823%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.126%	—	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest COST-USD-PERP	+0.0046%	1h	898.57	−0.090%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.45	−0.103%	$1.8M	$515K	20x	as long as short
Variational Omni COST	+0.0098%	8h	898.46	−0.102%	$42K	$17K	—	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.20	−0.131%	$47K	$870K	20x	as long as short
Binance COSTUSDT	+0.0218%	8h	898.88	−0.056%	$1.1M	$926K	20x	as long as short