Funding arb · Price arb /

QNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0484%/8h= −53.0% APRpaid last 24h −0.039%

Price spread now: Injective against BingX−1.125%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Injective is 1.125% cheaper against BingX than usual: you would sell low and buy high (−$113 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.050% in total (about -2.6% 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	BingX QNT-USDT	67.530	0.0100	pay 0.0100% / 8h	2h 09m	—	$2.4M	—
Short	Injective QNT/USDC PERP	66.770	−0.0384	pay 0.0048% / 1h	9m 22s	—	$86K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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

Position, each leg$Hold fordaysFee BingXbpFee InjectivebpOrdersPrice spread, now −1.125%Rate

Funding earned: −$101.71
Price spread: −1.125% → 0.000%: −$112.54
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$224.28
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 9 min ago; Injective: no order-book sample. Net counts fees only.

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 BingX live order book, 9 min ago	6.64 bp	26.0 bp −$26	60.8 bp −$608	515.8 bp −$51.6K	853.4 bp −$426.7K
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

QNT on 12 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 QNT/USDC PERPshort	−0.0384%	1h	66.770	−1.125%	—	$86K	5.5x
Variational Omni QNT	−0.0311%	8h	67.499	−0.046%	$54K	$99K	—	as long as short
gTrade (Gains Network) QNT/USD	L +0.0001% / S +0.0010%	1h	67.644	+0.168%	$138	—	150x	as long as short
Binance QNTUSDT	+0.0100%	8h	67.570	+0.059%	$3.6M	$5.8M	75x	as long as short
Bybit QNTUSDT	+0.0100%	8h	67.460	−0.104%	$2.8M	$1.2M	75x	as long as short
Gate QNT_USDT	+0.0100%	8h	67.670	+0.207%	$215K	$73K	25x	as long as short
MEXC QNT_USDT	+0.0100%	8h	67.550	+0.030%	$2.9M	$1.4M	200x	as long as short
KuCoin QNTUSDTM	+0.0100%	8h	67.620	+0.133%	$699K	$119K	30x	as long as short
Bitget QNTUSDT	+0.0100%	8h	67.640	+0.163%	$1.7M	$212K	75x	as long as short
BingX QNT-USDTlong	+0.0100%	8h	67.530	long leg	—	$2.4M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin QNT-USDT	+0.0220%	8h	67.560	+0.044%	$182K	$255K	75x	as long as short
Kraken Futures PF_QNTUSD	+4.0203%	1h	67.440	−0.133%	$38K	$62K	10x	as long as short