Funding you earn now, next payment 08:00 UTC−0.0830%/8h= −90.8% APRpaid last 24h +0.175%
Price spread now: QFEX against Bybit−0.392%7-day average −0.062% · 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−$76as in the Price arb table
costs, in and out, $10k−$430.435% of the position
Funding, last 4 days (all we have)+0.176%+$18 on $10k
+Price spread, last 4 days (all we have)+0.534%+$53 · spread now −0.392%, 7d avg −0.062%
=Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and QFEX is 0.330% cheaper against Bybit than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.062%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.176%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.176% in total (about 17.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit IBITUSDT | 48.500 | 0.0830 | pay 0.0830% / 8h | 10m 23s | $220K | $871K | 25x |
| Short | QFEX IBIT-USD | 48.310 | 0 | get 0.0000% / 1h | 10m 23s | $1.2M | $5.5M | 10x |
Bybit IBITUSDT
QFEX IBIT-USDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$174.23
- Price spread: −0.392% → −0.062%
- −$33
- Slippage, 4 orders
- −$22.45
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$250.68
- Costs to cover
- 0.435%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 25 min ago; QFEX: live order book, 3 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, 25 min ago | 4.13 bp | 9.6 bp −$10 | 18.8 bp −$188 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 3 min ago | 2.07 bp | 13.1 bp −$13 | 17.1 bp −$171 | doesn't fit | doesn't fit |
IBIT on 5 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX IBIT-USDshort | 0.0000% | 1h | 48.310 | −0.392% | $1.2M | $5.5M | 10x | |
| Gate IBIT_USDT | 0.0000% | 8h | 48.490 | −0.021% | $100K | $20K | 20x | as long as short |
| Bitget IBITUSDT | 0.0000% | 8h | 48.368 | −0.272% | $23K | $84K | 20x | as long as short |
| HTX IBIT-USDT | 0.0000% | 8h | 48.470 | −0.062% | $1K | $29K | 20x | as long as short |
| Bybit IBITUSDTlong | +0.0830% | 8h | 48.500 | long leg | $220K | $871K | 25x |
Gate IBIT_USDT
Bitget IBITUSDT
HTX IBIT-USDT