Funding arb · Price arb /

GLW

RWAall GLW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h −0.101%

Price spread now: QFEX against Binance−0.062%7-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−$39as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.147%−$15 on $10k

Price spread, last 2 days (all we have)+0.040%+$4 · spread now −0.062%, 7d avg −0.033%

Together, before fees−0.107%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and QFEX is 0.029% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance GLWUSDT	162.24	0.0432	pay 0.0432% / 8h	5h 51m	$10.7M	$21.6M	20x
Short	QFEX GLW-USD	162.14	0.0044	get 0.0005% / 1h	51m 13s	$1.1M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$81.55
Price spread: −0.062% → −0.033%: −$2.9
Slippage, 4 orders: −$16.2
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$120.65
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; QFEX: live order book, 11 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 Binance live order book, 5 min ago	2.16 bp	10.4 bp −$10	35.2 bp −$352	123.0 bp −$12.3K	doesn't fit
Sell QFEX live order book, 11 min ago	1.85 bp	6.9 bp −$7	12.4 bp −$124	doesn't fit	doesn't fit

GLW on 16 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
Paragon para:GLW	−0.0594%	1h	161.98	−0.159%	$322K	$37K	10x	as long as short
Aster GLWUSDT	0.0000%	8h	162.35	+0.067%	$41K	$1K	20x	as long as short
Bybit GLWUSDT	0.0000%	8h	162.17	−0.043%	$931K	$198K	25x	as long as short
Gate GLW_USDT	0.0000%	8h	162.09	−0.093%	$2.2M	$4.3M	50x	as long as short
SunX GLW-USDT	0.0000%	8h	162.03	−0.130%	$1K	$1.8M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	162.26	+0.012%	$17K	$16K	20x	as long as short
QFEX GLW-USDshort	+0.0044%	1h	162.14	−0.062%	$1.1M	$2.1M	10x
Vest GLW-USD-PERP	+0.0046%	1h	162.05	−0.117%	—	—	10x	as long as short
Ondo Perps GLW-USD.P	+0.0050%	1h	161.90	−0.210%	$303K	$106K	10x	as long as short
GRVT GLW_USDT_Perp	+0.0089%	8h	162.10	−0.087%	$381	$171K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin GLWUSDTM	+0.0100%	8h	162.09	−0.093%	$326K	$955K	20x	as long as short
Orderly PERP_GLW_USDC_mythos	+0.0100%	8h	162.22	−0.013%	$2K	$2K	10x	as long as short
OKX GLW-USDT-SWAP	+0.0224%	8h	162.31	+0.043%	$2.3M	$4.4M	20x	as long as short
Bitget GLWUSDT	+0.0282%	8h	162.14	−0.062%	$2.2M	$816K	20x	as long as short
Binance GLWUSDTlong	+0.0432%	8h	162.24	long leg	$10.7M	$21.6M	20x
Extended GLW-USD	+0.0432%	1h	162.19	−0.030%	$2K	$1K	10x	as long as short