Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h +0.032%

Price spread now: Bybit against QFEX0.000%7-day average +0.030% · 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−$60as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.027%+$3 on $10k

Price spread, last 7 days−0.055%−$5 · spread now 0.000%, 7d avg +0.030%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.030% cheaper against QFEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BE-USD	273.36	0.0035	pay 0.0004% / 1h	4m 09s	$1.3M	$3.8M	10x
Short	Bybit BEUSDT	273.36	0	get 0.0000% / 8h	1h 04m	$2.0M	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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

Position, each leg$Hold fordaysFee QFEXbpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$7.27
Price spread: 0.000% → +0.030%: −$2.98
Slippage, 4 orders: −$36.41
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$67.67
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Bybit: live order book, 7 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 QFEX live order book, 4 min ago	2.01 bp	7.0 bp −$7	11.6 bp −$116	doesn't fit	doesn't fit
Sell Bybit live order book, 7 min ago	1.83 bp	17.2 bp −$17	119.5 bp −$1,195	doesn't fit	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	273.11	−0.092%	$343K	$117K	20x	as long as short
Extended BE-USD	0.0000%	1h	273.40	+0.014%	$46K	$270K	10x	as long as short
Binance BEUSDT	0.0000%	8h	273.46	+0.038%	$8.5M	$37.2M	25x	as long as short
Bybit BEUSDTshort	0.0000%	8h	273.36	0.000%	$2.0M	$1.2M	25x
Gate BE_USDT	0.0000%	8h	273.10	−0.095%	$1.5M	$3.8M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	273.26	−0.037%	$1.7M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	273.42	+0.023%	$7K	$189K	10x	as long as short
SunX BE-USDT	0.0000%	8h	273.42	+0.022%	$891	$2.6M	10x	as long as short
HTX BE-USDT	0.0000%	8h	273.44	+0.029%	$12K	$33K	20x	as long as short
Lighter BE	+0.0032%	1h	273.00	−0.132%	—	—	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	273.26	−0.037%	$249K	$424K	10x	as long as short
QFEX BE-USDlong	+0.0035%	1h	273.36	long leg	$1.3M	$3.8M	10x
Arcus BE-USD	+0.0040%	1h	273.09	−0.099%	$114K	$134K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	273.25	−0.040%	—	—	10x	as long as short
Coinbase International BE-PERP-INTX	+0.0064%	1h	272.24	−0.410%	$467K	$120K	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	273.27	−0.033%	$369K	$23K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	273.33	−0.013%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	273.36	0.000%	$45K	$140K	20x	as long as short
tradeXYZ xyz:BE	+0.0135%	1h	273.13	−0.084%	$5.9M	$2.9M	10x	as long as short
OKX BE-USDT-SWAP	+0.0155%	8h	273.60	+0.088%	$2.6M	$6.8M	25x	as long as short
Deribit BE_USDC-PERPETUAL	+0.1069%	1h	273.39	+0.011%	$7K	$4K	10x	as long as short