Funding you earn now, next payment 09:00 UTC+0.0577%/8h= +63.2% APRpaid last 24h −0.001%
Price spread now: Bybit against QFEX+0.739%7-day average +0.039% · 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−$708as in the Price arb table
costs, in and out, $10k−$7787.780% of the position
Funding, last 4 days (all we have)−0.001%$0 on $10k
+Price spread, last 4 days (all we have)−0.782%−$78 · spread now +0.739%, 7d avg +0.039%
=Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Bybit is 0.700% dearer against QFEX than usual: you sell high and buy low: +$70 more if the spread goes back to its 7-day average of +0.039%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.001% in total (about -0.1% 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 NCLD-USD | 24.370 | 0 | get 0.0000% / 1h | 21m 28s | $1.2M | $564K | 10x |
| Short | Bybit NCLDUSDT | 24.550 | 0.0577 | get 0.0577% / 8h | 7h 21m | $172K | $76K | 25x |
QFEX NCLD-USD
Bybit NCLDUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $121.11
- Price spread: +0.739% → +0.039%
- $70.01
- Slippage, 4 orders
- −$757.01
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$586.88
- Costs to cover
- 7.780%
- Break-even
- 40.9 days
Slippage from QFEX: live order book, 9 min ago; Bybit: live order book, 58 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 | 205.09 bp | 210.1 bp −$210 | 213.7 bp −$2,137 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 58 min ago | 8.03 bp | 126.8 bp −$127 | 923.3 bp −$9,233 | doesn't fit | doesn't fit |
NCLD on 4 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX NCLD-USDlong | 0.0000% | 1h | 24.370 | long leg | $1.2M | $564K | 10x | |
| Polymarket Perps NCLD-USD | +0.0050% | 1h | 24.380 | +0.041% | $19K | $159K | 10x | as long as short |
| Bybit NCLDUSDTshort | +0.0577% | 8h | 24.550 | +0.739% | $172K | $76K | 25x | |
| tradeXYZ xyz:NCLD | +0.1579% | 1h | 24.435 | +0.267% | $198K | $267K | 10x | as long as short |
Polymarket Perps NCLD-USD
tradeXYZ xyz:NCLD