Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.008%

Price spread now: QFEX against Gate−0.064%7-day average −0.029% · 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−$641as in the Price arb table

costs, in and out, $10k−$6376.370% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now −0.064%, 7d avg −0.029%

Together, before fees+0.025%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.035% cheaper against Gate than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of −0.029%). If the spread goes back, that is −$4 on $10k: about 4.1 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.011% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate COST_USDT	899.47	0	get 0.0000% / 8h	39m 16s	$523K	$26K	25x
Short	QFEX COST-USD	898.89	0.0029	get 0.0004% / 1h	39m 16s	$1.1M	$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 −0.064%Rate

Funding earned: $6.05
Price spread: −0.064% → −0.029%: −$3.55
Slippage, 4 orders: −$611.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$634.49
Costs to cover: 6.370%
Break-even: 741.4 days

Slippage from Gate: live order book, 37 min ago; QFEX: live order book, 4 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, 37 min ago	17.06 bp	34.8 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	251.12 bp	256.4 bp −$256	262.5 bp −$2,625	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	898.17	−0.145%	$45K	$178	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	899.11	−0.040%	$470K	$193K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	899.03	−0.049%	$439K	$136K	10x	as long as short
Gate COST_USDTlong	0.0000%	8h	899.47	long leg	$523K	$26K	25x
Bitget COSTUSDT	0.0000%	8h	898.83	−0.071%	$397K	$125K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.60	−0.097%	$875	$3.3M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.74	+0.141%	$10K	$42K	10x	as long as short
QFEX COST-USDshort	+0.0029%	1h	898.89	−0.064%	$1.1M	$3.1M	10x
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.833%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.31	−0.129%	—	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest COST-USD-PERP	+0.0046%	1h	898.25	−0.136%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.64	−0.092%	$1.8M	$531K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.50	−0.108%	$41K	$845K	20x	as long as short
Variational Omni COST	+0.0233%	8h	898.89	−0.064%	$42K	$19K	—	as long as short
Binance COSTUSDT	+0.0413%	8h	899.07	−0.045%	$1.1M	$967K	20x	as long as short