Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0571%/8h= +62.5% APRpaid last 24h +0.140%

Price spread now: KuCoin against QFEX−0.661%7-day average −0.111% · 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−$843as in the Price arb table

costs, in and out, $10k−$7887.881% 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)+0.220%+$22 on $10k

Price spread, last 4 days (all we have)+0.697%+$70 · spread now −0.661%, 7d avg −0.111%

Together, before fees+0.918%+$92 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.550% cheaper against QFEX than usual: you would sell low and buy high (spread −0.661% now, against its 7-day average of −0.111%). If the spread goes back, that is −$55 on $10k: about 3.2 days of funding at the current rate (+$17 a day). At the pace of the last 4 days (+0.220% in total) that is about 8.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BX-USD	127.02	0	get 0.0000% / 1h	48m 10s	$1.1M	$1.4M	10x
Short	KuCoin BXUSDTM	126.18	0.0571	get 0.0571% / 8h	5h 48m	$114K	$1.0M	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 −0.661%Rate

Funding earned: $119.91
Price spread: −0.661% → −0.111%: −$55.02
Slippage, 4 orders: −$766.11
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$723.22
Costs to cover: 7.881%
Break-even: 49.2 days

Slippage from QFEX: live order book, 3 min ago; KuCoin: 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, 3 min ago	2.36 bp	79.2 bp −$79	80.4 bp −$804	86.6 bp −$8,657	doesn't fit
Sell KuCoin live order book, 1 min ago	12.69 bp	280.6 bp −$281	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
tradeXYZ xyz:BX	−0.0473%	1h	126.30	−0.567%	$665K	$211K	10x	as long as short
Aster BXUSDT	0.0000%	8h	126.15	−0.686%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.42	−0.472%	$486K	$834K	25x	as long as short
QFEX BX-USDlong	0.0000%	1h	127.02	long leg	$1.1M	$1.4M	10x
Gate BX_USDT	0.0000%	8h	126.47	−0.433%	$424K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.49	−0.417%	$898K	$36K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.35	−0.531%	$898	$114K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.30	−0.567%	$725	$313K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.53	−0.386%	$7K	$3K	20x	as long as short
OKX BX-USDT-SWAP	+0.0032%	8h	126.41	−0.480%	$164K	$114K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BX/USDC PERP	+0.0220%	1h	138.74	+9.227%	$4K	$32K	12x	as long as short
KuCoin BXUSDTMshort	+0.0571%	8h	126.18	−0.661%	$114K	$1.0M	20x
Variational Omni BX	+0.0895%	8h	126.29	−0.574%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.1180%	8h	126.38	−0.502%	$783K	$486K	20x	as long as short