Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0019%/8h= +2.0% APRpaid last 24h +0.007%

Price spread now: QFEX against Bitget+0.055%7-day average −0.037% · 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−$540as in the Price arb table

costs, in and out, $10k−$5495.487% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.055%, 7d avg −0.037%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.092% dearer against Bitget than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget COSTUSDT	898.77	0	get 0.0000% / 8h	3h 30m	$398K	$125K	25x
Short	QFEX COST-USD	899.26	0.0019	get 0.0002% / 1h	30m 40s	$1.1M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bitget. 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 BitgetbpFee QFEXbpOrdersPrice spread, now +0.055%Rate

Funding earned: $3.91
Price spread: +0.055% → −0.037%: $9.17
Slippage, 4 orders: −$526.73
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$535.64
Costs to cover: 5.487%
Break-even: 964.9 days

Slippage from Bitget: live order book, 14 min ago; QFEX: live order book, 2 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 Bitget live order book, 14 min ago	2.73 bp	19.1 bp −$19	31.4 bp −$314	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	251.50 bp	256.9 bp −$257	263.0 bp −$2,630	doesn't fit	doesn't fit

COST on 15 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
Aster COSTUSDT	0.0000%	8h	898.01	−0.085%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	899.27	+0.055%	$1.1M	$962K	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	899.08	+0.034%	$472K	$192K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	899.42	+0.072%	$431K	$136K	10x	as long as short
Gate COST_USDT	0.0000%	8h	899.17	+0.045%	$523K	$26K	25x	as long as short
Bitget COSTUSDTlong	0.0000%	8h	898.77	long leg	$398K	$125K	25x
Variational Omni COST	0.0000%	8h	898.95	+0.020%	$44K	$18K	—	as long as short
SunX COST-USDT	0.0000%	8h	898.10	−0.075%	$1K	$3.3M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.55	+0.198%	$10K	$42K	10x	as long as short
QFEX COST-USDshort	+0.0019%	1h	899.26	+0.055%	$1.1M	$2.5M	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.755%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.12	−0.073%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	898.59	−0.020%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.63	−0.016%	$1.8M	$536K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.00	−0.086%	$41K	$894K	20x	as long as short