Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: QFEX against Bybit−0.103%53s7-day average −0.027% · 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—prices read too far apart to compare

costs, in and out, $10k−$1931.926% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.103%, 7d avg −0.027%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.075% cheaper against Bybit than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.027%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HIMSUSDT	29.190	0	get 0.0000% / 8h	1h 39m	$294K	$130K	25x
Short	QFEX HIMS-USD	29.160	0.0004	get 0.0000% / 1h	39m 37s	$1.3M	$507K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0.74
Price spread: −0.103% → −0.027%: −$7.54
Slippage, 4 orders: −$171.56
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$199.36
Costs to cover: 1.926%
Break-even: 1894.9 days

Slippage from Bybit: live order book, 60 min ago; QFEX: live order book, 1 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 Bybit live order book, 60 min ago	10.26 bp	84.3 bp −$84	220.6 bp −$2,206	doesn't fit	doesn't fit
Sell QFEX live order book, 1 min ago	3.43 bp	9.7 bp −$10	20.0 bp −$200	doesn't fit	doesn't fit

HIMS on 14 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 HIMSUSDT	0.0000%	8h	29.167	−0.079%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.170	−0.069%	$964K	$2.6M	20x	as long as short
Bybit HIMSUSDTlong	0.0000%	8h	29.190	long leg	$294K	$130K	25x
OKX HIMS-USDT-SWAP	0.0000%	8h	29.170	−0.069%	$286K	$123K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.163	−0.092%	$506K	$201K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.170	−0.069%	$97K	$78K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.184	−0.021%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.278	+0.301%	$7K	$39K	10x	as long as short
QFEX HIMS-USDshort	+0.0004%	1h	29.160	−0.103%	$1.3M	$507K	10x
Vest HIMS-USD-PERP	+0.0046%	1h	29.160	−0.103%	—	—	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin HIMSUSDTM	+0.0100%	8h	29.170	−0.069%	$135K	$38K	20x	as long as short
tradeXYZ xyz:HIMS	+0.0147%	1h	29.167	−0.079%	$3.4M	$1.6M	10x	as long as short
Nado HIMS-PERP	+0.0154%	1h	29.166	−0.081%	$2K	$2K	10x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.530	+1.165%	$13K	$22K	5.5x	as long as short