Funding arb · Price arb /

QCOM

RWAall QCOM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0448%/8h= +49.1% APRpaid last 24h +0.099%

Price spread now: Phoenix against Phemex−0.051%73s7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1081.082% of the position

Long on Phemex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.424%+$42 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now −0.051%, 7d avg −0.005%

Together, before fees+0.337%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.046% cheaper against Phemex than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of −0.005%). If the spread goes back, that is −$5 on $10k: about 8 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.424% in total) that is about 18 hours. The two prices were read 73 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	Phemex QCOMUSDT	196.21	0	get 0.0000% / 8h	4h 39m	$1.6M	$995K	10x
Short	Phoenix QCOM	196.11	0.0448	get 0.0056% / 1h	39m 32s	$98K	$239K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Phemex. 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 PhemexbpFee PhoenixbpOrdersPrice spread, now −0.051%Rate

Funding earned: $94.13
Price spread: −0.051% → −0.005%: −$4.58
Slippage, 4 orders: −$89.21
Fee Phemex: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$18.66
Costs to cover: 1.082%
Break-even: 8.4 days

Slippage from Phemex: live order book, 4 min ago; Phoenix: live order book, 15 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, 4 min ago	1.53 bp	34.0 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 15 min ago	7.64 bp	21.8 bp −$22	48.4 bp −$484	doesn't fit	doesn't fit

QCOM on 21 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 QCOMUSDT	0.0000%	8h	196.10	−0.055%	$18K	$11K	20x	as long as short
Bybit QCOMUSDT	0.0000%	8h	196.04	−0.087%	$2.5M	$1.8M	25x	as long as short
OKX QCOM-USDT-SWAP	0.0000%	8h	196.16	−0.025%	$1.8M	$3.7M	20x	as long as short
Gate QCOM_USDT	0.0000%	8h	196.20	−0.005%	$4.5M	$3.2M	50x	as long as short
Bitget QCOMUSDT	0.0000%	8h	196.24	+0.015%	$1.3M	$1.1M	20x	as long as short
GRVT QCOM_USDT_Perp	0.0000%	8h	196.27	+0.031%	$6K	$190K	10x	as long as short
SunX QCOM-USDT	0.0000%	8h	196.03	−0.092%	$1K	$4.6M	10x	as long as short
HTX QCOM-USDT	0.0000%	8h	196.20	−0.005%	$10K	$10K	20x	as long as short
Phemex QCOMUSDTlong	0.0000%	8h	196.21	long leg	$1.6M	$995K	10x
Lighter QCOM	+0.0032%	1h	196.02	−0.097%	—	—	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX QCOM-USD	+0.0032%	1h	196.12	−0.046%	$1.2M	$3.3M	10x	as long as short
Variational Omni QCOM	+0.0044%	8h	196.17	−0.021%	$319K	$78K	—	as long as short
KuCoin QCOMUSDTM	+0.0100%	8h	196.03	−0.092%	$320K	$523K	20x	as long as short
BloFin QCOM-USDT	+0.0104%	8h	196.19	−0.010%	$129K	$54K	20x	as long as short
Binance QCOMUSDT	+0.0110%	8h	196.12	−0.046%	$11.1M	$22.8M	20x	as long as short
Extended QCOM-USD	+0.0112%	1h	196.12	−0.046%	$102K	$418K	10x	as long as short
Polymarket Perps QCOM-USD	+0.0114%	1h	196.30	+0.046%	$83K	$894K	10x	as long as short
edgeX QCOMUSDC	+0.0187%	4h	196.09	−0.060%	$81K	$270K	10x	as long as short
Injective QCOM/USDC PERP	+0.0220%	1h	215.78	+9.974%	$26K	$25K	12x	as long as short
Phoenix QCOMshort	+0.0448%	1h	196.11	−0.051%	$98K	$239K	10x
tradeXYZ xyz:QCOM	+0.0493%	1h	196.19	−0.010%	$7.4M	$2.4M	10x	as long as short