Funding arb · Price arb /

GLW

RWAall GLW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.059%

Price spread now: QFEX against BloFin−0.227%7-day average −0.023% · 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−$59as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.135%−$13 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.227%, 7d avg −0.023%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and QFEX is 0.204% cheaper against BloFin than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin GLW-USDT	158.37	0.0097	pay 0.0097% / 8h	4h 43m	$152K	$48K	20x
Short	QFEX GLW-USD	158.01	0.0080	get 0.0010% / 1h	43m 44s	$1.1M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. 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 BloFinbpFee QFEXbpOrdersPrice spread, now −0.227%Rate

Funding earned: −$3.61
Price spread: −0.227% → −0.023%: −$20.41
Slippage, 4 orders: −$16.32
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$62.34
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from BloFin: live order book, 53 min ago; QFEX: live order book, 1 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 BloFin live order book, 53 min ago	2.52 bp	9.9 bp −$10	26.7 bp −$267	doesn't fit	doesn't fit
Sell QFEX live order book, 1 min ago	2.21 bp	8.5 bp −$8	20.7 bp −$207	doesn't fit	doesn't fit

GLW on 17 exchanges

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 GLWUSDT	0.0000%	8h	158.18	−0.122%	$64K	$53K	20x	as long as short
Bybit GLWUSDT	0.0000%	8h	158.09	−0.177%	$902K	$242K	25x	as long as short
Gate GLW_USDT	0.0000%	8h	158.13	−0.152%	$2.2M	$4.4M	50x	as long as short
Bitget GLWUSDT	0.0000%	8h	158.16	−0.133%	$2.1M	$1.1M	20x	as long as short
SunX GLW-USDT	0.0000%	8h	158.20	−0.107%	$1K	$1.5M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	158.58	+0.133%	$17K	$27K	20x	as long as short
Vest GLW-USD-PERP	+0.0046%	1h	158.12	−0.158%	—	—	10x	as long as short
Ondo Perps GLW-USD.P	+0.0050%	1h	158.17	−0.126%	$279K	$111K	10x	as long as short
Paragon para:GLW	+0.0060%	1h	158.01	−0.228%	$307K	$41K	10x	as long as short
QFEX GLW-USDshort	+0.0080%	1h	158.01	−0.227%	$1.1M	$1.8M	10x

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin GLW-USDTlong	+0.0097%	8h	158.37	long leg	$152K	$48K	20x
KuCoin GLWUSDTM	+0.0100%	8h	158.18	−0.120%	$379K	$871K	20x	as long as short
Orderly PERP_GLW_USDC_mythos	+0.0100%	8h	158.26	−0.069%	$2K	$3K	10x	as long as short
Binance GLWUSDT	+0.0111%	8h	158.15	−0.136%	$10.4M	$27.2M	20x	as long as short
Extended GLW-USD	+0.0112%	1h	158.12	−0.159%	$2K	$1K	10x	as long as short
OKX GLW-USDT-SWAP	+0.0124%	8h	158.24	−0.082%	$2.2M	$5.2M	20x	as long as short
GRVT GLW_USDT_Perp	+0.0376%	8h	158.46	+0.055%	$323	$248K	10x	as long as short