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Funding arb · Price arb /

QCOM

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 06:00 UTC+0.0445%/8h= +48.7% APRnext payment +$0.56 per $10,000 · paid last 24h +0.091%
Price spread now: Phoenix against QFEX+0.041%112s7-day average +0.038% · 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—prices read too far apart to compare
costs, in and out, $10k−$600.603% of the position
Long on QFEXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.160%+$16 on $10k
Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.041%, 7d avg +0.038%
Together, before fees+0.056%+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.160% in total (about 15.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.56 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX QCOM-USD193.210.0051pay 0.0006% / 1h15m 38s$1.2M$3.2M10x
ShortPhoenix QCOM193.290.0496get 0.0062% / 1h15m 38s$97K$239K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix 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

Funding earned
$93.46
Price spread: +0.041% → +0.038%
$0.39
Slippage, 4 orders
−$43.32
Fee QFEX: 5 bp × 2 orders
−$10
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
$33.53
Costs to cover
0.603%
Break-even
4.5 days
Slippage from QFEX: live order book, 3 min ago; Phoenix: live order book, 25 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy QFEX live order book, 3 min ago1.55 bp7.1 bp −$712.3 bp −$123doesn't fitdoesn't fit
Sell Phoenix live order book, 25 min ago7.78 bp21.9 bp −$2248.7 bp −$487doesn't fitdoesn't fit

QCOM on 21 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget QCOMUSDT−0.0347%8h193.30+0.047%$1.3M$1.2M20xas long as short
Aster QCOMUSDT0.0000%8h193.11−0.050%$17K$11K20xas long as short
Extended QCOM-USD0.0000%1h193.18−0.016%$101K$475K10xas long as short
Binance QCOMUSDT0.0000%8h193.23+0.008%$10.8M$24.6M20xas long as short
Bybit QCOMUSDT0.0000%8h193.23+0.010%$1.7M$2.3M25xas long as short
OKX QCOM-USDT-SWAP0.0000%8h193.37+0.083%$1.8M$3.8M20xas long as short
Gate QCOM_USDT0.0000%8h193.31+0.052%$4.4M$3.5M50xas long as short
Variational Omni QCOM0.0000%8h193.15−0.033%$306K$117K—as long as short
GRVT QCOM_USDT_Perp0.0000%8h193.05−0.083%$6K$182K10xas long as short
SunX QCOM-USDT0.0000%8h193.27+0.031%$893$4.4M10xas long as short
Show all 21 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX QCOM-USDT0.0000%8h193.39+0.093%$9K$11K20xas long as short
Phemex QCOMUSDT0.0000%8h193.17−0.021%$1.6M$1.1M10xas long as short
BloFin QCOM-USDT+0.0029%8h193.33+0.062%$129K$54K20xas long as short
Lighter QCOM+0.0032%1h193.16−0.026%——10xas long as short
Polymarket Perps QCOM-USD+0.0050%1h193.09−0.062%$76K$885K10xas long as short
QFEX QCOM-USDlong+0.0051%1h193.21long leg$1.2M$3.2M10x
KuCoin QCOMUSDTM+0.0100%8h193.04−0.088%$321K$565K20xas long as short
edgeX QCOMUSDC+0.0205%4h193.33+0.060%$80K$275K10xas long as short
Injective QCOM/USDC PERP+0.0220%1h212.22+9.839%$25K$25K12xas long as short
Phoenix QCOMshort+0.0496%1h193.29+0.041%$97K$239K10x
tradeXYZ xyz:QCOM+0.0502%1h193.47+0.135%$7.6M$2.8M10xas long as short