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 −0.006%

Price spread now: OKX against QFEX+0.042%54s7-day average +0.052% · 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—prices read too far apart to compare

costs, in and out, $10k−$5565.556% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now +0.042%, 7d avg +0.052%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX COST-USD	901.15	0.0009	pay 0.0001% / 1h	3m 42s	$1.1M	$2.5M	10x
Short	OKX COST-USDT-SWAP	901.53	0	get 0.0000% / 8h	3h 03m	$441K	$117K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against QFEX. 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 QFEXbpFee OKXbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$1.98
Price spread: +0.042% → +0.052%: −$1
Slippage, 4 orders: −$535.65
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$558.63
Costs to cover: 5.556%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; OKX: live order book, 47 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 QFEX live order book, 4 min ago	251.79 bp	256.8 bp −$257	259.3 bp −$2,593	doesn't fit	doesn't fit
Sell OKX live order book, 47 min ago	3.67 bp	9.2 bp −$9	doesn't fit	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	901.48	+0.037%	$45K	$178	20x	as long as short
Binance COSTUSDT	0.0000%	8h	901.30	+0.017%	$1.1M	$959K	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	901.40	+0.028%	$490K	$221K	25x	as long as short
OKX COST-USDT-SWAPshort	0.0000%	8h	901.53	+0.042%	$441K	$117K	10x
Gate COST_USDT	0.0000%	8h	901.30	+0.017%	$522K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	900.89	−0.029%	$403K	$78K	25x	as long as short
Variational Omni COST	0.0000%	8h	901.20	+0.006%	$41K	$13K	—	as long as short
SunX COST-USDT	0.0000%	8h	900.10	−0.117%	$2K	$2.9M	10x	as long as short
HTX COST-USDT	0.0000%	8h	902.66	+0.168%	$10K	$42K	10x	as long as short
QFEX COST-USDlong	+0.0009%	1h	901.15	long leg	$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	−1.018%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.322%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	901.65	+0.055%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	900.89	−0.029%	$1.8M	$517K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	900.30	−0.094%	$47K	$893K	20x	as long as short