Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0029%/8hnext payment +$0.04 per $10,000 · paid last 24h +0.003%

Price spread now: Injective against QFEX−0.833%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 0.833% cheaper against QFEX than usual: you would sell low and buy high (spread −0.833% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$83 on $10k: about 3 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX COST-USD	899.47	0.0004	pay 0.0000% / 1h	21m 16s	$1.1M	$2.3M	10x
Short	Injective COST/USDC PERP	891.98	0.0033	get 0.0004% / 1h	21m 16s	$2K	$28K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.833%Rate

Funding earned: $6.19
Price spread: −0.833% → 0.000%: −$83.27
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$87.1
Costs to cover: 0.100%
Break-even: 105.4 days

Slippage unknown: QFEX: live order book, 10 min ago; Injective: no order-book sample. Net counts fees only.

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, 10 min ago	252.01 bp	257.0 bp −$257	262.7 bp −$2,627	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	899.35	−0.013%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	899.44	−0.003%	$1.1M	$930K	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	899.61	+0.016%	$472K	$192K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	899.28	−0.021%	$432K	$134K	10x	as long as short
Gate COST_USDT	0.0000%	8h	899.22	−0.028%	$523K	$26K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	899.15	−0.036%	$399K	$124K	25x	as long as short
Variational Omni COST	0.0000%	8h	899.28	−0.022%	$44K	$18K	—	as long as short
SunX COST-USDT	0.0000%	8h	898.90	−0.063%	$2K	$3.2M	10x	as long as short
HTX COST-USDT	0.0000%	8h	901.15	+0.187%	$10K	$42K	10x	as long as short
QFEX COST-USDlong	+0.0004%	1h	899.47	long leg	$1.1M	$2.3M	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERPshort	+0.0033%	1h	891.98	−0.833%	$2K	$28K	12x
Extended COST-USD	+0.0040%	1h	899.07	−0.044%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	899.07	−0.044%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	899.11	−0.040%	$1.8M	$535K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	899.10	−0.041%	$40K	$926K	20x	as long as short