Funding arb · Price arb /

GLW

RWAall GLW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.095%

Price spread now: QFEX against BloFin−0.081%7-day average −0.031% · 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−$40as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.138%−$14 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now −0.081%, 7d avg −0.031%

Together, before fees−0.242%−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and QFEX is 0.050% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin GLW-USDT	160.57	0.0225	pay 0.0225% / 8h	3h 40m	$152K	$36K	20x
Short	QFEX GLW-USD	160.44	0.0050	get 0.0006% / 1h	40m 20s	$1.1M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. 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 BloFinbpFee QFEXbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$36.81
Price spread: −0.081% → −0.031%: −$4.99
Slippage, 4 orders: −$12.59
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$76.39
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from BloFin: live order book, 49 min ago; QFEX: live order book, 2 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 BloFin live order book, 49 min ago	0.31 bp	9.5 bp −$10	21.0 bp −$210	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	1.24 bp	6.2 bp −$6	10.7 bp −$107	doesn't fit	doesn't fit

GLW on 17 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 GLWUSDT	0.0000%	8h	160.69	+0.072%	$41K	$1K	20x	as long as short
Bybit GLWUSDT	0.0000%	8h	160.55	−0.012%	$921K	$200K	25x	as long as short
Gate GLW_USDT	0.0000%	8h	160.47	−0.062%	$2.2M	$4.2M	50x	as long as short
Bitget GLWUSDT	0.0000%	8h	160.54	−0.019%	$2.1M	$851K	20x	as long as short
SunX GLW-USDT	0.0000%	8h	160.51	−0.037%	$1K	$1.8M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	160.57	0.000%	$16K	$16K	20x	as long as short
Paragon para:GLW	+0.0003%	1h	160.44	−0.083%	$312K	$40K	10x	as long as short
GRVT GLW_USDT_Perp	+0.0042%	8h	161.01	+0.274%	$742	$192K	10x	as long as short
Vest GLW-USD-PERP	+0.0046%	1h	160.57	0.000%	—	—	10x	as long as short
QFEX GLW-USDshort	+0.0050%	1h	160.44	−0.081%	$1.1M	$1.9M	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps GLW-USD.P	+0.0050%	1h	160.54	−0.019%	$300K	$108K	10x	as long as short
KuCoin GLWUSDTM	+0.0100%	8h	160.57	0.000%	$324K	$929K	20x	as long as short
Orderly PERP_GLW_USDC_mythos	+0.0100%	8h	160.50	−0.044%	$2K	$2K	10x	as long as short
OKX GLW-USDT-SWAP	+0.0176%	8h	160.62	+0.031%	$2.3M	$4.4M	20x	as long as short
Binance GLWUSDT	+0.0222%	8h	160.54	−0.020%	$10.5M	$21.9M	20x	as long as short
Extended GLW-USD	+0.0224%	1h	160.49	−0.048%	$2K	$1K	10x	as long as short
BloFin GLW-USDTlong	+0.0225%	8h	160.57	long leg	$152K	$36K	20x