Funding you earn now, next payment 09:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.001%
Price spread now: QFEX against Phemex+0.028%7-day average +0.002% · 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−$160as in the Price arb table
costs, in and out, $10k−$1621.624% of the position
Funding, last 4 days (all we have)−0.005%$0 on $10k
+Price spread, last 4 days (all we have)−0.149%−$15 · spread now +0.028%, 7d avg +0.002%
=The price spread pays, funding is against you. QFEX is 0.026% dearer against Phemex than usual: you sell high and buy low (spread +0.028% now, against its 7-day average of +0.002%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 9.1 days. At the pace of the last 4 days (−0.005% in total) that is about 22 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex OPENAIUSDT | 1,629.6 | 0 | get 0.0000% / 8h | 6h 56m | $1.6M | $498K | 10x |
| Short | QFEX OPENAI-USD | 1,630 | −0.0010 | pay 0.0001% / 1h | 56m 08s | $1.2M | $646K | 10x |
Phemex OPENAIUSDT
QFEX OPENAI-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Phemex. 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
- −$2.02
- Price spread: +0.028% → +0.002%
- $2.61
- Slippage, 4 orders
- −$140.42
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$161.83
- Costs to cover
- 1.624%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; QFEX: 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 Phemex live order book, 2 min ago | 2.15 bp | 74.2 bp −$74 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 5 min ago | 1.50 bp | 9.2 bp −$9 | 13.1 bp −$131 | doesn't fit | doesn't fit |
OPENAI on 22 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 OPENAI-USDshort | −0.0010% | 1h | 1,630 | +0.028% | $1.2M | $646K | 10x | |
| Lighter OPENAI | 0.0000% | 1h | 1,712.4 | +5.084% | $1.4M | $276K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,664.2 | +2.124% | $731K | $286K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,655 | +1.562% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,626.9 | −0.163% | $47.3M | $11.1M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,630.7 | +0.072% | $5.4M | $3.8M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,630 | +0.028% | — | $2.0M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,630.2 | +0.040% | $3K | $3K | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,630.7 | +0.068% | $79K | $225K | 20x | as long as short |
| Phemex OPENAIUSDTlong | 0.0000% | 8h | 1,629.6 | long leg | $1.6M | $498K | 10x |
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin OPENAI-USDT | +0.0031% | 8h | 1,629.3 | −0.017% | $477K | $308K | 20x | as long as short |
| Lighter RH OPENAI | +0.0032% | 1h | 1,678.3 | +2.990% | $2.7M | $6.2M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,629.9 | +0.020% | $142K | $808K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,632.1 | +0.155% | $213K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,630.4 | +0.052% | $23.0M | $16.6M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,631.2 | +0.101% | $6.7M | $2.4M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,631.9 | +0.146% | $377K | $148K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,629.1 | −0.025% | $2.6M | $766K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,629.5 | −0.004% | $2K | $173K | 10x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,630.1 | +0.031% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0234% | 1h | 1,669.2 | +2.433% | $7.6M | $2.4M | 6x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.0720% | 1h | 1,637.8 | +0.506% | $232K | $176K | 5x | as long as short |
BloFin OPENAI-USDT
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Aevo OPENAI-PERP
Entropy io:OAI
Coinbase International OPENAI-PERP-INTX