Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0256%/8h= +28.0% APRpaid last 24h −0.053%

Price spread now: QFEX against Gate0.000%7-day average −0.067% · 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−$36as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.030%−$3 on $10k

Price spread, last 7 days−0.072%−$7 · spread now 0.000%, 7d avg −0.067%

Together, before fees−0.102%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and QFEX is 0.067% dearer against Gate than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.067%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.030% in total (about -3.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate COIN_USDT	196.33	−0.0218	get 0.0218% / 8h	2h 46m	$1.2M	$7.3M	50x
Short	QFEX COIN-USD	196.33	0.0038	get 0.0005% / 1h	46m 04s	$1.3M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $53.74
Price spread: 0.000% → −0.067%: $6.69
Slippage, 4 orders: −$17.37
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: $18.06
Costs to cover: 0.424%
Break-even: 4.6 days

Slippage from Gate: live order book, 2 min ago; QFEX: live order book, 7 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 Gate live order book, 2 min ago	3.82 bp	12.6 bp −$13	131.3 bp −$1,313	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	1.27 bp	6.3 bp −$6	8.6 bp −$86	doesn't fit	doesn't fit

COIN on 26 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
Bitget COINUSDT	−0.0718%	8h	196.45	+0.061%	$6.3M	$10.5M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.43	+0.051%	$43K	$48K	30x	as long as short
Gate COIN_USDTlong	−0.0218%	8h	196.33	long leg	$1.2M	$7.3M	50x
Vest COIN-USD-PERP	−0.0114%	1h	195.66	−0.341%	—	$281K	25x	as long as short
Aster COINUSDT	0.0000%	8h	196.12	−0.107%	$342K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	196.18	−0.078%	$114K	$857K	10x	as long as short
Binance COINUSDT	0.0000%	8h	196.26	−0.033%	$14.7M	$80.7M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.30	−0.015%	$4.7M	$6.1M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.34	+0.005%	$3.0M	$4.7M	20x	as long as short
Variational Omni COIN	0.0000%	8h	196.26	−0.035%	$701K	$955K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.57	+0.122%	$23K	$2.5M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.13	−0.102%	$453K	$1.5M	10x	as long as short
QFEX COIN-USDshort	+0.0038%	1h	196.33	0.000%	$1.3M	$3.1M	10x
Arcus COIN-USD	+0.0040%	1h	196.57	+0.122%	$15K	$55K	5x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	196.22	−0.056%	$15.3M	$13.6M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	196.22	−0.056%	$132K	$1.3M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	196.23	−0.051%	$74	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.11	−0.112%	$351K	$2.8M	10x	as long as short
Lighter COIN	+0.0056%	1h	196.18	−0.079%	$385K	$2.1M	10x	as long as short
Phoenix COIN	+0.0082%	1h	196.43	+0.051%	$4K	$283K	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	196.16	−0.087%	$989K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	196.44	+0.056%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.21	−0.061%	$567	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.22	−0.054%	$116	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.46	+0.066%	$188K	$393K	20x	as long as short
edgeX COINUSDC	+0.0708%	4h	196.51	+0.093%	$51K	$296K	10x	as long as short