Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: Phemex against Aevo+0.138%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$18 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.138% dearer against Aevo than usual: you sell high and buy low (spread +0.138% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo QQQ-PERP	741.46	0.0104	pay 0.0013% / 1h	50m 40s	$92K	$1K	10x
Short	Phemex QQQUSDT	742.48	0	get 0.0000% / 8h	1h 50m	$365K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.138%Rate

Funding earned: −$21.84
Price spread: +0.138% → 0.000%: $13.82
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$36.02
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Phemex: live order book, 2 min ago. Net counts fees only.

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 Aevo no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	2.63 bp	33.7 bp −$34	doesn't fit	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

QQQ on 28 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
GMX QQQ/USD [ETH-USDC]	L −0.0156% / S +0.0248%	1h	742.29	+0.113%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0033%	1h	741.13	−0.044%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0012%	8h	742.07	+0.083%	$1.1M	$278K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.30	+0.113%	$823K	$858K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.40	+0.128%	$70.2M	$145.5M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	742.25	+0.107%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.09	+0.086%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.21	+0.101%	$5.4M	$6.3M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.63	+0.024%	$3.3M	$21.5M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.41	+0.129%	$16.6M	$5.6M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QQQ	0.0000%	8h	742.22	+0.103%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.75	+0.175%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.60	+0.154%	$251K	$41K	30x	as long as short
Phemex QQQUSDTshort	0.0000%	8h	742.48	+0.138%	$365K	$1.6M	10x
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.73	+0.037%	$1.2M	$551K	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.09	+0.086%	$7.6M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.46	+0.136%	$36.9M	$79.6M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.34	−0.016%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.13	+0.226%	—	$337K	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0087%	1h	741.94	+0.065%	$424K	$153K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.88	+0.057%	$3.4M	$352K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.86	+0.055%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.96	+0.068%	$12K	$21K	20x	as long as short
Aevo QQQ-PERPlong	+0.0104%	1h	741.46	long leg	$92K	$1K	10x
GRVT QQQ_USDT_Perp	+0.0105%	8h	742.52	+0.144%	$318K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0142%	1h	741.79	+0.045%	$1.5M	$749K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.83	+0.051%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0513%	4h	742.27	+0.110%	$759K	$335K	20x	as long as short