Funding you earn now, next payment 03:00 UTC−0.0081%/8h= −8.9% APRnext payment −$0.10 per $10,000 · paid last 24h −0.026%
Price spread now: QFEX against Markets by Kinetiq+0.386%50s7-day average +0.228% · 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−$140.144% of the position
Funding, last 4 days (all we have)−0.089%−$9 on $10k
+Price spread, last 7 days−0.241%−$24 · spread now +0.386%, 7d avg +0.228%
=The price spread pays, funding is against you. QFEX is 0.159% dearer against Markets by Kinetiq than usual: you sell high and buy low (spread +0.386% now, against its 7-day average of +0.228%): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.5 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Markets by Kinetiq mkts:US500 | 7,739.2 | 0.0046 | pay 0.0006% / 1h | 59m 46s | $1.6M | $6.9M | 25x |
| Short | QFEX US500-USD | 7,769.1 | −0.0036 | pay 0.0004% / 1h | 59m 46s | $11.9M | $3.2M | 30x |
Markets by Kinetiq mkts:US500
QFEX US500-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Markets by Kinetiq. 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
- −$17.05
- Price spread: +0.386% → +0.228%
- $15.87
- Slippage, 4 orders
- −$2.75
- Fee Markets by Kinetiq: 0.81 bp × 2 orders
- −$1.62
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$15.55
- Costs to cover
- 0.144%
- Break-even
- from the start
Slippage from Markets by Kinetiq: 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 Markets by Kinetiq live order book, 8 min ago | 0.06 bp | 1.1 bp −$1 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 4 min ago | 1.09 bp | 6.1 bp −$6 | 11.6 bp −$116 | doesn't fit | doesn't fit |
SP500 on 18 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective US500/USDC PERP | −0.0220% | 1h | 7,667.4 | −0.928% | $7K | $108 | 52x | as long as short |
| QFEX US500-USDshort | −0.0036% | 1h | 7,769.1 | +0.386% | $11.9M | $3.2M | 30x | |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,767 | +0.359% | $152K | $219K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,771.1 | +0.412% | $7.2M | $774K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,742.8 | +0.046% | $17.5M | $9.3M | — | as long as short |
| Bullet US500-USD | 0.0000% | 1h | 7,767.6 | +0.366% | $13K | $107K | 10x | as long as short |
| Lighter US500 | +0.0032% | 1h | 7,765.8 | +0.344% | $2.2M | $28.1M | 50x | as long as short |
| Extended SPX500m-USD | +0.0032% | 1h | 7,767.4 | +0.365% | $3.2M | $15.5M | 25x | as long as short |
| Markets by Kinetiq mkts:US500long | +0.0046% | 1h | 7,739.2 | long leg | $1.6M | $6.9M | 25x | |
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,832.8 | +1.209% | — | $4.3M | 50x | as long as short |
Injective US500/USDC PERP
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
Bullet US500-USD
Lighter US500
Extended SPX500m-USD
Vest SPX-USD-PERPShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex US500USDT | +0.0048% | 1h | 7,768.1 | +0.373% | $583K | $487K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,765 | +0.334% | $43K | — | 5x | as long as short |
| tradeXYZ xyz:SP500 | +0.0050% | 1h | 7,767.6 | +0.367% | $431.6M | $240.5M | 50x | as long as short |
| Polymarket Perps SP500-USD | +0.0050% | 1h | 7,765.8 | +0.344% | $9.0M | $2.2M | 50x | as long as short |
| SoDEX US500-USD | +0.0050% | 1h | 7,767.2 | +0.362% | $1.1M | $85K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,769.4 | +0.390% | $9.5M | $7.5M | 25x | as long as short |
| Pacifica SP500 | +0.0100% | 1h | 7,768 | +0.372% | $261K | $177K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0229% | 1h | 7,764.8 | +0.331% | $577 | $24K | 10x | as long as short |
Popdex US500USDT
Paradex US500-USD-PERP
tradeXYZ xyz:SP500
Polymarket Perps SP500-USD
SoDEX US500-USD
Ondo Perps US500-USD.P
Pacifica SP500
Aftermath Perps US500USD