Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0092%/8h= −10.0% APRpaid last 24h −0.016%

Price spread now: Bybit against ApeX Omni+0.040%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$350.353% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.170%−$17 on $10k

Price spread, last 7 days+0.002%$0 · spread now +0.040%, 7d avg +0.076%

Together, before fees−0.168%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.036% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni QQQUSDT	743.83	0.0100	pay 0.0013% / 1h	33m 33s	$20K	$2.2M	50x
Short	Bybit QQQUSDT	744.13	0.0008	get 0.0008% / 8h	7h 33m	$10.7M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$19.27
Price spread: +0.040% → +0.076%: −$3.56
Slippage, 4 orders: −$14.35
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.18
Costs to cover: 0.353%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 1 min ago; Bybit: live order book, 5 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, 1 min ago	3.83 bp	9.9 bp −$10	30.9 bp −$309	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.87 bp	7.3 bp −$7	8.3 bp −$83	55.6 bp −$5,558	doesn't fit

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	742.31	−0.204%	$4.2M	$2.0M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0085% / S +0.0193%	1h	744.22	+0.052%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	743.95	+0.017%	$841K	$739K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.01	+0.024%	$21.5M	$25.0M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.87	+0.005%	$3.2M	$27.5M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.63	+0.108%	$2K	$2.2M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.40	+0.077%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.43	+0.081%	$362K	$1.4M	10x	as long as short
BloFin QQQ-USDT	+0.0006%	8h	744.05	+0.030%	$1.1M	$318K	20x	as long as short
Bybit QQQUSDTshort	+0.0008%	8h	744.13	+0.040%	$10.7M	$4.9M	50x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QQQ	+0.0032%	1h	743.90	+0.009%	$7.6M	$18.2M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.35	+0.070%	$37.3M	$79.8M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.47	−0.048%	$747K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.74	+0.122%	—	$306K	50x	as long as short
Variational Omni QQQ	+0.0046%	8h	744.16	+0.044%	$17.1M	$9.8M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	743.73	−0.013%	$1.2M	$548K	20x	as long as short
Binance QQQUSDT	+0.0074%	8h	744.14	+0.042%	$71.1M	$152.6M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.81	−0.003%	$3.4M	$412K	20x	as long as short
ApeX Omni QQQUSDTlong	+0.0100%	1h	743.83	long leg	$20K	$2.2M	50x
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.92	+0.012%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.41	−0.056%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0112%	1h	743.78	−0.007%	$1.5M	$1.2M	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0153%	1h	744.05	+0.030%	$425K	$147K	20x	as long as short
Bitget QQQUSDT	+0.0175%	8h	744.22	+0.052%	$16.9M	$6.6M	20x	as long as short
RISEx QQQ/USDC	+0.0208%	1h	744.18	+0.047%	$5.5M	$8.6M	25x	as long as short
Phoenix QQQ	+0.0258%	1h	743.74	−0.012%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0273%	8h	744.30	+0.063%	$316K	$1.8M	10x	as long as short
edgeX QQQUSDC	+0.0458%	4h	744.12	+0.039%	$761K	$336K	20x	as long as short