Funding arb · Price arb /

GLW

RWAall GLW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0498%/8h= +54.5% APRpaid last 24h +0.102%

Price spread now: Binance against QFEX+0.045%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.147%+$15 on $10k

Price spread, last 2 days (all we have)−0.022%−$2 · spread now +0.045%, 7d avg +0.033%

Together, before fees+0.126%+$13 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: +$15 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.147% in total (about 15.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GLW-USD	161.73	0.0052	pay 0.0007% / 1h	57m 48s	$1.1M	$2.2M	10x
Short	Binance GLWUSDT	161.80	0.0550	get 0.0550% / 8h	6h 57m	$10.8M	$21.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.045%Rate

Funding earned: $104.5
Price spread: +0.045% → +0.033%: $1.24
Slippage, 4 orders: −$16.35
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $69.39
Costs to cover: 0.364%
Break-even: 2.4 days

Slippage from QFEX: live order book, 9 min ago; Binance: live order book, 13 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 QFEX live order book, 9 min ago	1.54 bp	7.7 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.62 bp	11.1 bp −$11	38.0 bp −$380	89.4 bp −$8,944	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	161.96	+0.142%	$41K	$1K	20x	as long as short
Bybit GLWUSDT	0.0000%	8h	161.74	+0.006%	$932K	$194K	25x	as long as short
Gate GLW_USDT	0.0000%	8h	161.68	−0.031%	$2.2M	$4.2M	50x	as long as short
SunX GLW-USDT	0.0000%	8h	161.64	−0.056%	$1K	$1.9M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	161.93	+0.124%	$17K	$16K	20x	as long as short
Vest GLW-USD-PERP	+0.0046%	1h	161.87	+0.087%	—	—	10x	as long as short
Ondo Perps GLW-USD.P	+0.0050%	1h	161.70	−0.019%	$302K	$109K	10x	as long as short
QFEX GLW-USDlong	+0.0052%	1h	161.73	long leg	$1.1M	$2.2M	10x
Paragon para:GLW	+0.0060%	1h	161.78	+0.031%	$321K	$38K	10x	as long as short
KuCoin GLWUSDTM	+0.0100%	8h	161.85	+0.074%	$326K	$986K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_GLW_USDC_mythos	+0.0100%	8h	161.71	−0.012%	$2K	$2K	10x	as long as short
OKX GLW-USDT-SWAP	+0.0219%	8h	161.78	+0.031%	$2.3M	$4.4M	20x	as long as short
GRVT GLW_USDT_Perp	+0.0319%	8h	161.99	+0.161%	$776	$169K	10x	as long as short
Bitget GLWUSDT	+0.0392%	8h	161.75	+0.012%	$2.2M	$806K	20x	as long as short
Binance GLWUSDTshort	+0.0550%	8h	161.80	+0.045%	$10.8M	$21.6M	20x
BloFin GLW-USDT	+0.0551%	8h	161.93	+0.124%	$151K	$36K	20x	as long as short
Extended GLW-USD	+0.0552%	1h	161.77	+0.025%	$2K	$2K	10x	as long as short