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Funding arb · Price arb /

COIN

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 20:00 UTC+0.0005%/8hnext payment +$0.01 per $10,000 · paid last 24h −0.032%
Price spread now: QFEX against Polymarket Perps−0.064%54s7-day average −0.004% · 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—prices read too far apart to compare
costs, in and out, $10k−$290.294% of the position
Long on Polymarket PerpsShort on QFEX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.076%−$8 on $10k
Price spread, last 7 days+0.084%+$8 · spread now −0.064%, 7d avg −0.004%
Together, before fees+0.009%+$1 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: QFEX is 0.061% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.004%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps COIN-USD201.930.0050pay 0.0006% / 1h21m 31s$132K$1.1M10x
ShortQFEX COIN-USD201.800.0055get 0.0007% / 1h21m 31s$1.4M$3.6M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX against Polymarket Perps. 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

Funding earned
$1.06
Price spread: −0.064% → −0.004%
−$6.07
Slippage, 4 orders
−$11.42
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$34.43
Costs to cover
0.294%
Break-even
234.7 days
Slippage from Polymarket Perps: live order book, 1 min ago; QFEX: live order book, 11 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 1 min ago1.24 bp6.7 bp −$77.3 bp −$73doesn't fitdoesn't fit
Sell QFEX live order book, 11 min ago2.47 bp7.5 bp −$89.6 bp −$96doesn't fitdoesn't fit

COIN on 26 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective COIN/USDC PERP−0.0440%1h202.52+0.292%$40K$48K30xas long as short
Aster COINUSDT0.0000%8h201.93−0.002%$371K$832K20xas long as short
Extended COIN_24_5-USD0.0000%1h201.82−0.055%$100K$428K10xas long as short
Binance COINUSDT0.0000%8h201.77−0.081%$15.7M$75.1M20xas long as short
Bybit COINUSDT0.0000%8h201.81−0.059%$5.0M$5.8M50xas long as short
OKX COIN-USDT-SWAP0.0000%8h201.80−0.064%$3.3M$4.6M20xas long as short
Gate COIN_USDT0.0000%8h201.89−0.020%$1.3M$6.7M50xas long as short
Variational Omni COIN0.0000%8h202.32+0.193%$791K$1.0M—as long as short
GRVT COIN_USDT_Perp0.0000%8h202.41+0.239%$13K$1.8M10xas long as short
Lighter RH COIN+0.0032%1h201.91−0.010%$444K$2.0M10xas long as short
Show all 26 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Arcus COIN-USD+0.0040%1h201.82−0.054%$19K$42K5xas long as short
Vest COIN-USD-PERP+0.0046%1h201.930.000%—$493K25xas long as short
Polymarket Perps COIN-USDlong+0.0050%1h201.93long leg$132K$1.1M10x
SoDEX COIN-USD+0.0050%1h202.00+0.035%$94$3K10xas long as short
Ondo Perps COIN-USD.P+0.0050%1h202.31+0.188%$370K$3.2M10xas long as short
QFEX COIN-USDshort+0.0055%1h201.80−0.064%$1.4M$3.6M10x
Lighter COIN+0.0096%1h201.92−0.005%$377K$2.2M10xas long as short
KuCoin COINUSDTM+0.0100%8h201.98+0.025%$1.0M$146K20xas long as short
ApeX Omni COINUSDT+0.0100%1h202.59+0.327%$91K$630K50xas long as short
Orderly PERP_COIN_USDC_mythos+0.0100%8h202.03+0.050%$584$5K10xas long as short
Aevo COIN-PERP+0.0104%1h202.03+0.047%$119—10xas long as short
Bitget COINUSDT+0.0111%8h201.89−0.020%$6.8M$9.5M20xas long as short
BloFin COIN-USDT+0.0120%8h202.16+0.114%$157K$333K20xas long as short
edgeX COINUSDC+0.0129%4h202.46+0.264%$52K$292K10xas long as short
tradeXYZ xyz:COIN+0.0181%1h201.92−0.005%$16.5M$13.5M10xas long as short
Phoenix COIN+0.0198%1h202.66+0.362%$2K$255K10xas long as short