Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.008%

Price spread now: QFEX against Bybit−0.062%7-day average −0.003% · 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−$554as in the Price arb table

costs, in and out, $10k−$5485.483% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now −0.062%, 7d avg −0.003%

Together, before fees+0.090%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.059% cheaper against Bybit than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of −0.003%). If the spread goes back, that is −$6 on $10k: about 21 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit COSTUSDT	901.29	0	get 0.0000% / 8h	3h 15m	$491K	$220K	25x
Short	QFEX COST-USD	900.73	0.0009	get 0.0001% / 1h	15m 03s	$1.1M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.062%Rate

Funding earned: $1.98
Price spread: −0.062% → −0.003%: −$5.95
Slippage, 4 orders: −$527.26
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$552.22
Costs to cover: 5.483%
Break-even: 1956.9 days

Slippage from Bybit: live order book, 30 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 Bybit live order book, 30 min ago	7.12 bp	18.9 bp −$19	47.5 bp −$475	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	251.66 bp	257.0 bp −$257	263.3 bp −$2,633	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	901.10	−0.021%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	901.07	−0.024%	$1.1M	$952K	20x	as long as short
Bybit COSTUSDTlong	0.0000%	8h	901.29	long leg	$491K	$220K	25x
Gate COST_USDT	0.0000%	8h	900.97	−0.036%	$522K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	901.18	−0.012%	$403K	$78K	25x	as long as short
Variational Omni COST	0.0000%	8h	900.81	−0.054%	$41K	$13K	—	as long as short
SunX COST-USDT	0.0000%	8h	899.70	−0.176%	$1K	$2.8M	10x	as long as short
HTX COST-USDT	0.0000%	8h	902.79	+0.166%	$10K	$42K	10x	as long as short
OKX COST-USDT-SWAP	+0.0006%	8h	901.44	+0.017%	$441K	$116K	10x	as long as short
QFEX COST-USDshort	+0.0009%	1h	900.73	−0.062%	$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	−1.033%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.337%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	900.66	−0.070%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	900.82	−0.052%	$1.8M	$517K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	900.40	−0.099%	$48K	$892K	20x	as long as short