Funding arb · Price arb /

GPRO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0979%/8h= +107.2% APRpaid last 24h +0.109%

Price spread now: Binance against QFEX−0.840%7-day average −0.030% · 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−$240as in the Price arb table

costs, in and out, $10k−$1591.586% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.260%+$26 on $10k

Price spread, last 7 days+0.509%+$51 · spread now −0.840%, 7d avg −0.030%

Together, before fees+0.769%+$77 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.809% cheaper against QFEX than usual: you would sell low and buy high (spread −0.840% now, against its 7-day average of −0.030%). If the spread goes back, that is −$81 on $10k: about 2.8 days of funding at the current rate (+$29 a day). At the pace of the last 4 days (+0.260% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.260% in total (about 26.0% 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 GPRO-USD	1.3100	0	get 0.0000% / 1h	26m 16s	$1.2M	$31K	10x
Short	Binance GPROUSDT	1.2990	0.0979	get 0.0979% / 8h	2h 26m	$883K	$1.7M	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 −0.840%Rate

Funding earned: $205.56
Price spread: −0.840% → −0.030%: −$80.94
Slippage, 4 orders: −$138.58
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$33.96
Costs to cover: 1.586%
Break-even: 8.2 days

Slippage from QFEX: live order book, 10 min ago; Binance: live order book, 7 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, 10 min ago	38.31 bp	43.3 bp −$43	146.7 bp −$1,467	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	3.84 bp	42.3 bp −$42	175.9 bp −$1,759	doesn't fit	doesn't fit

GPRO on 12 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
Bybit GPROUSDT	0.0000%	8h	1.3061	−0.298%	$362K	$225K	25x	as long as short
QFEX GPRO-USDlong	0.0000%	1h	1.3100	long leg	$1.2M	$31K	10x
Gate GPRO_USDT	0.0000%	8h	1.2996	−0.794%	$54K	$130K	20x	as long as short
Bitget GPROUSDT	0.0000%	8h	1.3015	−0.649%	$397K	$2.6M	20x	as long as short
SunX GPRO-USDT	0.0000%	8h	1.3010	−0.687%	—	$1.8M	10x	as long as short
HTX GPRO-USDT	0.0000%	8h	1.3000	−0.763%	$8K	$209K	20x	as long as short
Binance GPROUSDTshort	+0.0979%	8h	1.2990	−0.840%	$883K	$1.7M	20x
OKX GPRO-USDT-SWAP	+0.0990%	8h	1.2940	−1.221%	$544K	$696K	10x	as long as short
Variational Omni GPRO	+0.1030%	8h	1.3013	−0.664%	$38K	$32K	—	as long as short
KuCoin GPROUSDTM	+0.1095%	8h	1.3000	−0.763%	$64K	$1.3M	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GPROUSD1	+0.1191%	8h	1.3000	−0.762%	$7.7M	$13.0M	20x	as long as short
Entropy io:GPRO	+0.2183%	1h	1.3001	−0.756%	$469K	$30.6M	5x	as long as short