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 −0.081%

Price spread now: Bybit against Phoenix−0.082%65s7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as 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−$1181.180% of the position

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.406%−$41 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.082%, 7d avg −0.030%

Together, before fees−0.300%−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bybit is 0.052% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.030%). Swap the legs. The two prices were read 65 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	Phoenix QCOM	195.91	0.0448	pay 0.0056% / 1h	20m 28s	$98K	$239K	10x
Short	Bybit QCOMUSDT	195.75	0	get 0.0000% / 8h	4h 20m	$2.5M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phoenix. 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 PhoenixbpFee BybitbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$94.13
Price spread: −0.082% → −0.030%: −$5.18
Slippage, 4 orders: −$99.98
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$217.29
Costs to cover: 1.180%
Break-even: never at this rate

Slippage from Phoenix: live order book, 34 min ago; Bybit: live order book, 2 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 Phoenix live order book, 34 min ago	7.64 bp	21.8 bp −$22	48.3 bp −$483	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	4.34 bp	25.9 bp −$26	106.8 bp −$1,068	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
edgeX QCOMUSDC	−0.0913%	4h	195.86	−0.025%	$81K	$271K	10x	as long as short
Aster QCOMUSDT	0.0000%	8h	195.92	+0.003%	$18K	$11K	20x	as long as short
Bybit QCOMUSDTshort	0.0000%	8h	195.75	−0.082%	$2.5M	$1.8M	25x
OKX QCOM-USDT-SWAP	0.0000%	8h	195.90	−0.005%	$1.8M	$3.7M	20x	as long as short
Gate QCOM_USDT	0.0000%	8h	195.96	+0.026%	$4.4M	$3.2M	50x	as long as short
Bitget QCOMUSDT	0.0000%	8h	195.96	+0.026%	$1.3M	$1.1M	20x	as long as short
GRVT QCOM_USDT_Perp	0.0000%	8h	196.00	+0.047%	$6K	$190K	10x	as long as short
SunX QCOM-USDT	0.0000%	8h	195.79	−0.061%	$946	$4.5M	10x	as long as short
HTX QCOM-USDT	0.0000%	8h	195.85	−0.031%	$10K	$10K	20x	as long as short
Phemex QCOMUSDT	0.0000%	8h	195.87	−0.020%	$1.6M	$989K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QCOM	+0.0009%	8h	195.83	−0.039%	$318K	$78K	—	as long as short
Lighter QCOM	+0.0032%	1h	195.80	−0.056%	—	—	10x	as long as short
QFEX QCOM-USD	+0.0032%	1h	195.80	−0.056%	$1.2M	$3.3M	10x	as long as short
Binance QCOMUSDT	+0.0077%	8h	195.84	−0.036%	$11.1M	$22.7M	20x	as long as short
Extended QCOM-USD	+0.0080%	1h	195.79	−0.062%	$103K	$421K	10x	as long as short
BloFin QCOM-USDT	+0.0085%	8h	196.00	+0.046%	$129K	$54K	20x	as long as short
KuCoin QCOMUSDTM	+0.0100%	8h	195.79	−0.061%	$319K	$514K	20x	as long as short
Polymarket Perps QCOM-USD	+0.0119%	1h	195.88	−0.015%	$83K	$894K	10x	as long as short
Injective QCOM/USDC PERP	+0.0220%	1h	215.64	+10.071%	$26K	$25K	12x	as long as short
Phoenix QCOMlong	+0.0448%	1h	195.91	long leg	$98K	$239K	10x
tradeXYZ xyz:QCOM	+0.0520%	1h	195.97	+0.031%	$7.5M	$2.4M	10x	as long as short