Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.011%

Price spread now: SunX against QFEX−0.110%7-day average +0.032% · 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−$284as in the Price arb table

costs, in and out, $10k−$2702.696% of the position

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.365%+$37 · spread now −0.110%, 7d avg +0.032%

Together, before fees+0.348%+$35 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 SunX is 0.142% cheaper against QFEX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BE-USD	273.51	0.0036	pay 0.0005% / 1h	15m 19s	$1.3M	$2.6M	10x
Short	SunX BE-USDT	273.21	0	get 0.0000% / 8h	3h 15m	$981	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$7.56
Price spread: −0.110% → +0.032%: −$14.18
Slippage, 4 orders: −$251.61
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$291.36
Costs to cover: 2.696%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; SunX: live order book, 1 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, 2 min ago	1.65 bp	7.4 bp −$7	12.5 bp −$125	doesn't fit	doesn't fit
Sell SunX live order book, 1 min ago	45.71 bp	129.8 bp −$130	doesn't fit	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	273.25	−0.096%	$344K	$120K	20x	as long as short
Extended BE-USD	0.0000%	1h	273.46	−0.020%	$47K	$262K	10x	as long as short
Gate BE_USDT	0.0000%	8h	273.50	−0.004%	$1.4M	$3.4M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	273.56	+0.018%	$1.6M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	273.20	−0.114%	$7K	$162K	10x	as long as short
SunX BE-USDTshort	0.0000%	8h	273.21	−0.110%	$981	$2.4M	10x
HTX BE-USDT	0.0000%	8h	273.40	−0.040%	$13K	$35K	20x	as long as short
Binance BEUSDT	+0.0001%	8h	273.50	−0.004%	$8.4M	$36.8M	25x	as long as short
BloFin BE-USDT	+0.0003%	8h	273.52	+0.004%	$45K	$143K	20x	as long as short
Bybit BEUSDT	+0.0013%	8h	273.51	0.000%	$2.0M	$1.1M	25x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BE	+0.0032%	1h	273.27	−0.088%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	273.42	−0.033%	$250K	$290K	10x	as long as short
QFEX BE-USDlong	+0.0036%	1h	273.51	long leg	$1.3M	$2.6M	10x
Arcus BE-USD	+0.0040%	1h	273.15	−0.132%	$114K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	273.51	0.000%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	273.58	+0.026%	$5.9M	$2.7M	10x	as long as short
Coinbase International BE-PERP-INTX	+0.0064%	1h	273.04	−0.172%	$476K	$136K	10x	as long as short
OKX BE-USDT-SWAP	+0.0087%	8h	273.32	−0.069%	$2.6M	$6.9M	25x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	273.46	−0.018%	$369K	$20K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	273.43	−0.028%	—	—	10x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0262%	1h	273.64	+0.048%	$7K	$4K	10x	as long as short