Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.004%

Price spread now: Binance against ApeX Omni+0.078%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.242%−$24 on $10k

Price spread, last 2 days (all we have)−0.045%−$4 · spread now +0.078%, 7d avg +0.056%

Together, before fees−0.286%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.022% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.078% now, against its 7-day average of +0.056%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.242% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni QQQUSDT	743.74	0.0100	pay 0.0013% / 1h	31m 17s	$20K	$2.2M	50x
Short	Binance QQQUSDT	744.32	0.0074	get 0.0074% / 8h	7h 31m	$71.1M	$151.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against ApeX Omni. 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 ApeX OmnibpFee BinancebpOrdersPrice spread, now +0.078%Rate

Funding earned: −$5.37
Price spread: +0.078% → +0.056%: $2.22
Slippage, 4 orders: −$10.03
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$33.18
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 3 min ago; Binance: live order book, 12 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 ApeX Omni live order book, 3 min ago	3.83 bp	9.9 bp −$10	30.9 bp −$309	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.07 bp	5.2 bp −$5	6.4 bp −$64	11.0 bp −$1,099	26.9 bp −$13.4K

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
Ondo Perps QQQ-USD.P	−0.0366%	1h	742.79	−0.128%	$4.2M	$2.0M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0085% / S +0.0193%	1h	744.36	+0.083%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	743.99	+0.033%	$841K	$739K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.14	+0.054%	$21.5M	$25.0M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.99	+0.034%	$3.2M	$27.5M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.77	+0.138%	$1K	$2.2M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.45	+0.095%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.45	+0.095%	$361K	$1.4M	10x	as long as short
Bybit QQQUSDT	+0.0001%	8h	744.39	+0.087%	$10.7M	$4.9M	50x	as long as short
BloFin QQQ-USDT	+0.0009%	8h	744.05	+0.042%	$1.1M	$318K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QQQ	+0.0032%	1h	744.08	+0.046%	$7.6M	$18.2M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.52	+0.105%	$37.3M	$79.9M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.51	−0.031%	$747K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.87	+0.152%	—	$306K	50x	as long as short
Variational Omni QQQ	+0.0047%	8h	744.24	+0.067%	$17.1M	$9.7M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	743.73	−0.001%	$1.2M	$547K	20x	as long as short
Binance QQQUSDTshort	+0.0074%	8h	744.32	+0.078%	$71.1M	$151.8M	25x
KuCoin QQQUSDTM	+0.0100%	8h	743.95	+0.028%	$3.4M	$411K	20x	as long as short
ApeX Omni QQQUSDTlong	+0.0100%	1h	743.74	long leg	$20K	$2.2M	50x
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.06	+0.043%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.53	−0.029%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0108%	1h	743.96	+0.030%	$1.5M	$1.3M	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0126%	1h	744.15	+0.055%	$425K	$147K	20x	as long as short
Bitget QQQUSDT	+0.0173%	8h	744.22	+0.065%	$16.9M	$6.6M	20x	as long as short
RISEx QQQ/USDC	+0.0208%	1h	744.32	+0.078%	$5.4M	$8.7M	25x	as long as short
Phoenix QQQ	+0.0258%	1h	743.83	+0.012%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0273%	8h	744.30	+0.075%	$316K	$1.8M	10x	as long as short
edgeX QQQUSDC	+0.0458%	4h	744.12	+0.052%	$761K	$336K	20x	as long as short