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Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and tradeXYZ is 0.137% cheaper against QFEX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.037%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.081%, so the current rate has only just turned against you. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.081% in total (about 7.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.20 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.