Funding you earn now, next payment 03:00 UTC−0.0411%/8h= −45.0% APRnext payment −$0.51 per $10,000 · paid last 24h −0.108%
Price spread now: QFEX against tradeXYZ−0.058%49s7-day average −0.011% · 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−$490.492% of the position
Funding, last 4 days (all we have)−0.058%−$6 on $10k
+Price spread, last 7 days−0.022%−$2 · spread now −0.058%, 7d avg −0.011%
=Together, before fees−0.081%+ Points / potential airdroptradeXYZ: Active · farm board−$8 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and QFEX is 0.047% cheaper against tradeXYZ than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.011%). Swap the legs. The two prices were read 49 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 -0.058% in total (about -6.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.51 per $10,000. 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 | tradeXYZ xyz:SMH | 600.73 | 0.0411 | pay 0.0051% / 1h | 59m 43s | $3.3M | $1.9M | 20x |
| Short | QFEX SMH-USD | 600.38 | 0 | get 0.0000% / 1h | 59m 43s | $1.1M | $6.4M | 10x |
tradeXYZ xyz:SMH
QFEX SMH-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against tradeXYZ. 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
- −$86.3
- Price spread: −0.058% → −0.011%
- −$4.7
- Slippage, 4 orders
- −$21.22
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$140.21
- Costs to cover
- 0.492%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 8 min ago; QFEX: live order book, 4 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 tradeXYZ live order book, 8 min ago | 3.08 bp | 16.5 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 4 min ago | 1.67 bp | 11.1 bp −$11 | 17.7 bp −$177 | 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 | 600.96 | +0.038% | $48K | $29K | 20x | as long as short |
| Binance SMHUSDT | 0.0000% | 8h | 601.23 | +0.084% | $725K | $741K | 20x | as long as short |
| Bybit SMHUSDT | 0.0000% | 8h | 600.96 | +0.038% | $266K | $2.4M | 25x | as long as short |
| OKX SMH-USDT-SWAP | 0.0000% | 8h | 601.10 | +0.062% | $506K | $347K | 20x | as long as short |
| QFEX SMH-USDshort | 0.0000% | 1h | 600.38 | −0.058% | $1.1M | $6.4M | 10x | |
| Gate SMH_USDT | 0.0000% | 8h | 600.50 | −0.038% | $182K | $21K | 20x | as long as short |
| MEXC SMH_USDT | 0.0000% | 8h | 601.07 | +0.057% | $569K | $127K | 20x | as long as short |
| Bitget SMHUSDT | 0.0000% | 8h | 600.72 | −0.002% | $692K | $110K | 20x | as long as short |
| Vest SMH-USD-PERP | +0.0046% | 1h | 600.45 | −0.047% | — | — | 25x | as long as short |
| HTX SMH-USDT | +0.0100% | 8h | 601.39 | +0.110% | $7K | $46K | 10x | as long as short |
BloFin SMH-USDT
Binance SMHUSDT
Bybit SMHUSDT
OKX SMH-USDT-SWAP
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:SMHlong | +0.0411% | 1h | 600.73 | long leg | $3.3M | $1.9M | 20x |