Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.019%

Price spread now: KuCoin against QFEX−0.047%7-day average +0.002% · 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−$187as in the Price arb table

costs, in and out, $10k−$1821.817% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.094%+$9 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.047%, 7d avg +0.002%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.049% cheaper against QFEX than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.002%). If the spread goes back, that is −$5 on $10k: about 45 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BE-USD	274.80	0.0012	pay 0.0002% / 1h	48m 16s	$1.3M	$3.0M	10x
Short	KuCoin BEUSDTM	274.67	0.0100	get 0.0100% / 8h	5h 48m	$371K	$22K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.047%Rate

Funding earned: $18.45
Price spread: −0.047% → +0.002%: −$4.91
Slippage, 4 orders: −$159.74
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$168.2
Costs to cover: 1.817%
Break-even: 70.8 days

Slippage from QFEX: live order book, 5 min ago; KuCoin: live order book, 49 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, 5 min ago	2.00 bp	9.8 bp −$10	12.2 bp −$122	doesn't fit	doesn't fit
Sell KuCoin live order book, 49 min ago	18.84 bp	94.6 bp −$95	doesn't fit	doesn't fit	doesn't fit

BE on 20 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	274.45	−0.129%	$345K	$119K	20x	as long as short
Bybit BEUSDT	0.0000%	8h	274.89	+0.033%	$2.0M	$1.1M	25x	as long as short
Gate BE_USDT	0.0000%	8h	274.50	−0.109%	$1.5M	$3.3M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	274.68	−0.044%	$1.7M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	275.03	+0.084%	$7K	$166K	10x	as long as short
SunX BE-USDT	0.0000%	8h	274.79	−0.004%	$1K	$2.4M	10x	as long as short
HTX BE-USDT	0.0000%	8h	274.80	0.000%	$12K	$34K	20x	as long as short
QFEX BE-USDlong	+0.0012%	1h	274.80	long leg	$1.3M	$3.0M	10x
Coinbase International BE-PERP-INTX	+0.0016%	1h	273.08	−0.626%	$473K	$130K	10x	as long as short
Lighter BE	+0.0032%	1h	274.66	−0.051%	—	—	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	274.70	−0.036%	$251K	$289K	10x	as long as short
Arcus BE-USD	+0.0040%	1h	274.69	−0.040%	$115K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	274.79	−0.004%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	274.58	−0.080%	$5.9M	$2.8M	10x	as long as short
Extended BE-USD	+0.0080%	1h	274.69	−0.042%	$46K	$262K	10x	as long as short
Binance BEUSDT	+0.0081%	8h	274.76	−0.015%	$8.4M	$36.2M	25x	as long as short
KuCoin BEUSDTMshort	+0.0100%	8h	274.67	−0.047%	$371K	$22K	20x
Aevo BE-PERP	+0.0104%	1h	274.76	−0.015%	—	—	10x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0114%	1h	274.79	−0.004%	$7K	$4K	10x	as long as short
OKX BE-USDT-SWAP	+0.0135%	8h	274.80	0.000%	$2.6M	$6.7M	25x	as long as short