Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.019%

Price spread now: Gate against QFEX+0.229%7-day average −0.075% · 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−$186as in the Price arb table

costs, in and out, $10k−$2162.163% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.237%−$24 · spread now +0.229%, 7d avg −0.075%

Together, before fees−0.219%−$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Gate is 0.305% dearer against QFEX than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BX-USD	126.42	−0.0080	get 0.0010% / 1h	3m 29s	$1.1M	$1.3M	10x
Short	Gate BX_USDT	126.71	0	get 0.0000% / 8h	1h 03m	$426K	$20K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.229%Rate

Funding earned: $16.8
Price spread: +0.229% → −0.075%: $30.48
Slippage, 4 orders: −$191.35
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$169.06
Costs to cover: 2.163%
Break-even: 77.4 days

Slippage from QFEX: live order book, 3 min ago; Gate: live order book, 12 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, 3 min ago	2.77 bp	39.3 bp −$39	40.1 bp −$401	44.4 bp −$4,445	doesn't fit
Sell Gate live order book, 12 min ago	18.16 bp	97.5 bp −$97	doesn't fit	doesn't fit	doesn't fit

BX on 14 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
QFEX BX-USDlong	−0.0080%	1h	126.42	long leg	$1.1M	$1.3M	10x
Aster BXUSDT	0.0000%	8h	126.38	−0.032%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.58	+0.127%	$498K	$857K	25x	as long as short
Gate BX_USDTshort	0.0000%	8h	126.71	+0.229%	$426K	$20K	20x
Bitget BXUSDT	0.0000%	8h	126.61	+0.150%	$903K	$45K	20x	as long as short
SunX BX-USDT	0.0000%	8h	126.56	+0.111%	$740	$303K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.65	+0.182%	$7K	$3K	20x	as long as short
OKX BX-USDT-SWAP	+0.0154%	8h	126.48	+0.047%	$163K	$106K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	126.28	−0.111%	$963	$27K	12x	as long as short
tradeXYZ xyz:BX	+0.0466%	1h	126.40	−0.016%	$662K	$180K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.0886%	8h	126.54	+0.095%	$112K	$1.1M	20x	as long as short
Variational Omni BX	+0.0908%	8h	126.56	+0.109%	$31K	$127	—	as long as short
Binance BXUSDT	+0.1210%	8h	126.55	+0.103%	$804K	$455K	20x	as long as short
GRVT BX_USDT_Perp	+0.2050%	8h	126.55	+0.102%	$421	$124K	10x	as long as short