Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h 0.000%
Price spread now: QFEX against OKX−0.022%7-day average +0.038% · 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−$142as in the Price arb table
costs, in and out, $10k−$1361.360% of the position
Funding, last 4 days (all we have)0.000%$0 on $10k
+Price spread, last 4 days (all we have)−0.135%−$14 · spread now −0.022%, 7d avg +0.038%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and QFEX is 0.060% cheaper against OKX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.038%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX SMH-USDT-SWAP | 592.29 | 0.0067 | pay 0.0067% / 8h | 4m 14s | $499K | $356K | 20x |
| Short | QFEX SMH-USD | 592.16 | 0 | get 0.0000% / 1h | 4m 14s | $1.1M | $6.2M | 10x |
OKX SMH-USDT-SWAP
QFEX SMH-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against OKX. 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
- −$14.05
- Price spread: −0.022% → +0.038%
- −$5.97
- Slippage, 4 orders
- −$115.98
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$156
- Costs to cover
- 1.360%
- Break-even
- never at this rate
Slippage from OKX: live order book, 32 min ago; QFEX: live order book, 5 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 OKX live order book, 32 min ago | 2.11 bp | 51.7 bp −$52 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 5 min ago | 2.19 bp | 16.2 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
SMH on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SMH-USDT | −0.0027% | 8h | 592.80 | +0.086% | $47K | $29K | 20x | as long as short |
| Binance SMHUSDT | 0.0000% | 8h | 592.77 | +0.080% | $720K | $806K | 20x | as long as short |
| Bybit SMHUSDT | 0.0000% | 8h | 592.26 | −0.005% | $299K | $388K | 25x | as long as short |
| QFEX SMH-USDshort | 0.0000% | 1h | 592.16 | −0.022% | $1.1M | $6.2M | 10x | |
| Gate SMH_USDT | 0.0000% | 8h | 592.10 | −0.032% | $185K | $30K | 20x | as long as short |
| MEXC SMH_USDT | 0.0000% | 8h | 592.78 | +0.083% | $561K | $130K | 20x | as long as short |
| Bitget SMHUSDT | 0.0000% | 8h | 592.67 | +0.064% | $679K | $51K | 20x | as long as short |
| Vest SMH-USD-PERP | +0.0046% | 1h | 592.19 | −0.017% | — | — | 25x | as long as short |
| OKX SMH-USDT-SWAPlong | +0.0067% | 8h | 592.29 | long leg | $499K | $356K | 20x | |
| HTX SMH-USDT | +0.0100% | 8h | 593.94 | +0.279% | $7K | $47K | 10x | as long as short |
BloFin SMH-USDT
Binance SMHUSDT
Bybit SMHUSDT
Gate SMH_USDT
MEXC SMH_USDT
Bitget SMHUSDT
Vest SMH-USD-PERP
HTX SMH-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:SMH | +0.0495% | 1h | 592.31 | +0.003% | $3.2M | $2.0M | 20x | as long as short |
tradeXYZ xyz:SMH