Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h 0.000%

Price spread now: Bybit against QFEX+0.069%7-day average +0.036% · 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−$193as in the Price arb table

costs, in and out, $10k−$1961.959% of the position

Long on QFEX Short on Bybit

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)+0.029%+$3 · spread now +0.069%, 7d avg +0.036%

Together, before fees+0.028%+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.032% dearer against QFEX than usual: you sell high and buy low (spread +0.069% now, against its 7-day average of +0.036%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 10.0 days. At the pace of the last 4 days (−0.001% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX HIMS-USD	29.140	0.0011	pay 0.0001% / 1h	44m 13s	$1.3M	$507K	10x
Short	Bybit HIMSUSDT	29.160	0	get 0.0000% / 8h	4h 44m	$290K	$140K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$2.25
Price spread: +0.069% → +0.036%: $3.21
Slippage, 4 orders: −$174.88
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$194.92
Costs to cover: 1.959%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Bybit: live order book, 53 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, 5 min ago	5.15 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 53 min ago	6.85 bp	90.8 bp −$91	214.5 bp −$2,145	doesn't fit	doesn't fit

HIMS on 14 exchanges

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	29.125	−0.053%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.160	+0.068%	$973K	$2.9M	20x	as long as short
Bybit HIMSUSDTshort	0.0000%	8h	29.160	+0.069%	$290K	$140K	25x
OKX HIMS-USDT-SWAP	0.0000%	8h	29.150	+0.034%	$280K	$125K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.149	+0.031%	$511K	$240K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.148	+0.026%	$97K	$75K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.144	+0.014%	—	$1.6M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.205	+0.223%	$6K	$39K	10x	as long as short
QFEX HIMS-USDlong	+0.0011%	1h	29.140	long leg	$1.3M	$507K	10x
Injective HIMS/USDC PERP	+0.0033%	1h	29.430	+0.995%	$13K	$22K	5.5x	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest HIMS-USD-PERP	+0.0046%	1h	29.140	0.000%	—	—	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.140	0.000%	$132K	$264K	20x	as long as short
Nado HIMS-PERP	+0.0194%	1h	29.150	+0.033%	$2K	$2K	10x	as long as short
tradeXYZ xyz:HIMS	+0.0273%	1h	29.153	+0.045%	$3.6M	$1.7M	10x	as long as short