Funding you earn now, next payment 03:00 UTC+0.0374%/8h= +41.0% APRnext payment +$0.47 per $10,000 · paid last 24h +0.108%
Price spread now: tradeXYZ against QFEX+0.060%7-day average +0.011% · 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−$44as in the Price arb table
costs, in and out, $10k−$490.492% of the position
Funding, last 4 days (all we have)+0.058%+$6 on $10k
+Price spread, last 7 days+0.021%+$2 · spread now +0.060%, 7d avg +0.011%
=Together, before fees+0.079%+ Points / potential airdroptradeXYZ: Active · farm board+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and tradeXYZ is 0.049% dearer against QFEX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.011%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.058% in total (about 6.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.47 per $10,000. 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 | QFEX SMH-USD | 600.31 | 0 | get 0.0000% / 1h | 0m 57s | $1.1M | $6.4M | 10x |
| Short | tradeXYZ xyz:SMH | 600.67 | 0.0374 | get 0.0047% / 1h | 0m 57s | $3.3M | $1.9M | 20x |
QFEX SMH-USD
tradeXYZ xyz:SMHFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against QFEX. 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
- $78.59
- Price spread: +0.060% → +0.011%
- $4.87
- Slippage, 4 orders
- −$21.22
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- $34.25
- Costs to cover
- 0.492%
- Break-even
- 3.9 days
Slippage from QFEX: live order book, 8 min ago; tradeXYZ: live order book, 7 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, 8 min ago | 1.67 bp | 9.6 bp −$10 | 18.2 bp −$182 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 7 min ago | 3.08 bp | 12.1 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
SMH on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SMH-USDT | −0.0027% | 8h | 600.96 | +0.108% | $48K | $29K | 20x | as long as short |
| Binance SMHUSDT | 0.0000% | 8h | 601.48 | +0.195% | $725K | $741K | 20x | as long as short |
| Bybit SMHUSDT | 0.0000% | 8h | 601.00 | +0.115% | $266K | $2.4M | 25x | as long as short |
| OKX SMH-USDT-SWAP | 0.0000% | 8h | 601.10 | +0.132% | $506K | $349K | 20x | as long as short |
| QFEX SMH-USDlong | 0.0000% | 1h | 600.31 | long leg | $1.1M | $6.4M | 10x | |
| Gate SMH_USDT | 0.0000% | 8h | 600.50 | +0.032% | $182K | $21K | 20x | as long as short |
| MEXC SMH_USDT | 0.0000% | 8h | 600.92 | +0.102% | $569K | $130K | 20x | as long as short |
| Bitget SMHUSDT | 0.0000% | 8h | 600.61 | +0.050% | $692K | $110K | 20x | as long as short |
| Vest SMH-USD-PERP | +0.0046% | 1h | 600.39 | +0.013% | — | — | 25x | as long as short |
| HTX SMH-USDT | +0.0100% | 8h | 601.39 | +0.180% | $7K | $46K | 10x | as long as short |
BloFin SMH-USDT
Binance SMHUSDT
Bybit SMHUSDT
OKX SMH-USDT-SWAP
Gate SMH_USDT
MEXC SMH_USDT
Bitget SMHUSDT
Vest SMH-USD-PERP
HTX SMH-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:SMHshort | +0.0374% | 1h | 600.67 | +0.060% | $3.3M | $1.9M | 20x |