Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.164%

Price spread now: Binance against QFEX+2.172%7-day average +0.116% · 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−$758as in the Price arb table

costs, in and out, $10k−$9639.634% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.139%+$14 on $10k

Price spread, last 2 days (all we have)−2.020%−$202 · spread now +2.172%, 7d avg +0.116%

Together, before fees−1.881%−$188 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 2.057% dearer against QFEX than usual: you sell high and buy low, +$206 on $10k if it goes back to its 7-day average of +0.116%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BX-USD	123.76	0	get 0.0000% / 1h	48m 26s	$1.1M	$1.2M	10x
Short	Binance BXUSDT	126.45	0	get 0.0000% / 8h	5h 48m	$771K	$518K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +2.172%Rate

Funding earned: $0
Price spread: +2.172% → +0.116%: $205.66
Slippage, 4 orders: −$943.44
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$757.79
Costs to cover: 9.634%
Break-even: never at this rate

Slippage from QFEX: live order book, 1 min ago; Binance: live order book, 51 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, 1 min ago	152.75 bp	453.3 bp −$453	461.5 bp −$4,615	468.0 bp −$46.8K	doesn't fit
Sell Binance live order book, 51 min ago	3.56 bp	34.8 bp −$35	159.9 bp −$1,599	doesn't fit	doesn't fit

BX on 14 exchanges

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 BXUSDT	0.0000%	8h	126.32	+2.071%	$5K	$868	20x	as long as short
Binance BXUSDTshort	0.0000%	8h	126.45	+2.172%	$771K	$518K	20x
Bybit BXUSDT	0.0000%	8h	126.44	+2.165%	$475K	$822K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.19	+1.963%	$163K	$115K	10x	as long as short
QFEX BX-USDlong	0.0000%	1h	123.76	long leg	$1.1M	$1.2M	10x
Gate BX_USDT	0.0000%	8h	126.58	+2.279%	$420K	$23K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.54	+2.246%	$899K	$24K	20x	as long as short
Variational Omni BX	0.0000%	8h	126.45	+2.172%	$43K	$12K	—	as long as short
SunX BX-USDT	0.0000%	8h	126.47	+2.190%	$797	$276K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.66	+2.343%	$7K	$3K	20x	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:BX	+0.0050%	1h	126.27	+2.028%	$664K	$268K	10x	as long as short
KuCoin BXUSDTM	+0.0100%	8h	126.35	+2.093%	$110K	$838K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	139.59	+12.791%	$4K	$31K	12x	as long as short
GRVT BX_USDT_Perp	+0.0438%	8h	126.56	+2.259%	$769	$107K	10x	as long as short