Funding arb · Price arb /

GLW

RWAall GLW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h +0.029%

Price spread now: Gate against QFEX−0.088%55s7-day average −0.014% · 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—prices read too far apart to compare

costs, in and out, $10k−$520.521% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days+0.079%+$8 · spread now −0.088%, 7d avg −0.014%

Together, before fees+0.089%+$9 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 Gate is 0.074% cheaper against QFEX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.014%). Swap the legs. The two prices were read 55 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 GLW-USD	159.33	0.0050	pay 0.0006% / 1h	18m 37s	$1.1M	$1.8M	10x
Short	Gate GLW_USDT	159.19	0	get 0.0000% / 8h	3h 18m	$2.2M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.088%Rate

Funding earned: −$10.43
Price spread: −0.088% → −0.014%: −$7.42
Slippage, 4 orders: −$27.05
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$69.91
Costs to cover: 0.521%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; Gate: live order book, 5 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, 3 min ago	2.19 bp	9.0 bp −$9	12.6 bp −$126	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	8.47 bp	18.7 bp −$19	237.4 bp −$2,374	doesn't fit	doesn't fit

GLW on 17 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 GLWUSDT	0.0000%	8h	159.42	+0.054%	$41K	$1K	20x	as long as short
Bybit GLWUSDT	0.0000%	8h	159.22	−0.069%	$914K	$202K	25x	as long as short
Gate GLW_USDTshort	0.0000%	8h	159.19	−0.088%	$2.2M	$4.2M	50x
Bitget GLWUSDT	0.0000%	8h	159.27	−0.038%	$2.1M	$867K	20x	as long as short
GRVT GLW_USDT_Perp	0.0000%	8h	159.55	+0.137%	$185	$197K	10x	as long as short
SunX GLW-USDT	0.0000%	8h	159.38	+0.031%	$1K	$1.8M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	159.38	+0.031%	$16K	$16K	20x	as long as short
Vest GLW-USD-PERP	+0.0046%	1h	159.38	+0.031%	—	—	10x	as long as short
QFEX GLW-USDlong	+0.0050%	1h	159.33	long leg	$1.1M	$1.8M	10x
Ondo Perps GLW-USD.P	+0.0050%	1h	159.16	−0.107%	$290K	$118K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paragon para:GLW	+0.0057%	1h	159.17	−0.099%	$310K	$41K	10x	as long as short
KuCoin GLWUSDTM	+0.0100%	8h	159.23	−0.063%	$320K	$922K	20x	as long as short
Orderly PERP_GLW_USDC_mythos	+0.0100%	8h	159.34	+0.006%	$2K	$2K	10x	as long as short
OKX GLW-USDT-SWAP	+0.0126%	8h	159.24	−0.056%	$2.2M	$4.4M	20x	as long as short
Extended GLW-USD	+0.0160%	1h	159.16	−0.108%	$2K	$1K	10x	as long as short
Binance GLWUSDT	+0.0162%	8h	159.23	−0.063%	$10.4M	$22.3M	20x	as long as short
BloFin GLW-USDT	+0.0170%	8h	159.58	+0.157%	$150K	$36K	20x	as long as short