Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.011%

Price spread now: Variational Omni against Aevo+0.087%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.087% dearer against Aevo than usual: you sell high and buy low (spread +0.087% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo QQQ-PERP	743.74	0.0104	pay 0.0013% / 1h	41m 00s	$93K	$1K	10x
Short	Variational Omni QQQ	744.39	0.0006	get 0.0006% / 8h	4h 41m	$17.1M	$7.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.087%Rate

Funding earned: −$20.6
Price spread: +0.087% → 0.000%: $8.75
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$27.85
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	1.90 bp	doesn't fit	2.3 bp −$23	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 −0.0121% / S +0.0221%	1h	744.52	+0.106%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0114%	1h	743.26	−0.064%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0002%	8h	744.38	+0.087%	$1.1M	$271K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	744.49	+0.101%	$841K	$714K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.53	+0.107%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.33	+0.080%	$21.5M	$26.9M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.62	+0.119%	$5.4M	$7.5M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.98	+0.033%	$3.3M	$20.8M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.59	+0.115%	$16.9M	$5.7M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.98	+0.167%	$2K	$1.9M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDT	0.0000%	8h	744.72	+0.132%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.68	+0.127%	$360K	$1.5M	10x	as long as short
Variational Omni QQQshort	+0.0006%	8h	744.39	+0.087%	$17.1M	$7.5M	—
Coinbase International QQQ-PERP-INTX	+0.0008%	1h	743.80	+0.009%	$1.2M	$536K	20x	as long as short
Lighter QQQ	+0.0032%	1h	744.39	+0.088%	$7.7M	$16.3M	30x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.69	−0.006%	$702K	$1.6M	25x	as long as short
Binance QQQUSDT	+0.0043%	8h	744.53	+0.107%	$71.1M	$141.8M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.53	+0.241%	—	$337K	50x	as long as short
Lighter RH QQQ	+0.0056%	1h	744.84	+0.148%	$37.0M	$78.8M	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	744.21	+0.064%	$3.4M	$392K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	744.07	+0.045%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.29	+0.074%	$12K	$21K	20x	as long as short
Nado QQQ-PERP	+0.0103%	1h	744.18	+0.060%	$1.5M	$879K	20x	as long as short
Aevo QQQ-PERPlong	+0.0104%	1h	743.74	long leg	$93K	$1K	10x
GRVT QQQ_USDT_Perp	+0.0117%	8h	744.58	+0.114%	$319K	$1.9M	10x	as long as short
Phoenix QQQ	+0.0129%	1h	744.09	+0.048%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0247%	1h	744.48	+0.100%	$425K	$149K	20x	as long as short
edgeX QQQUSDC	+0.0728%	4h	744.46	+0.097%	$761K	$333K	20x	as long as short