Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0184%/8h= −20.1% APRpaid last 24h −0.030%

Price spread now: Gate against ApeX Omni+0.005%111s7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.382% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.221%−$22 on $10k

Price spread, last 7 days+0.125%+$12 · spread now +0.005%, 7d avg +0.048%

Together, before fees−0.096%−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.043% 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 +0.048%). Swap the legs. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni QQQUSDT	741.13	0.0100	pay 0.0013% / 1h	21m 40s	$20K	$2.2M	50x
Short	Gate QQQ_USDT	741.17	−0.0084	pay 0.0084% / 8h	21m 40s	$3.3M	$21.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.005%Rate

Funding earned: −$38.64
Price spread: +0.005% → +0.048%: −$4.3
Slippage, 4 orders: −$13.21
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$81.15
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 2 min ago; Gate: live order book, 2 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, 2 min ago	3.78 bp	9.8 bp −$10	25.6 bp −$256	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.28 bp	8.9 bp −$9	12.8 bp −$128	doesn't fit	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
GMX QQQ/USD [ETH-USDC]	L −0.0174% / S +0.0263%	1h	741.75	+0.084%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0159%	1h	740.30	−0.112%	$4.2M	$1.8M	20x	as long as short
Gate QQQ_USDTshort	−0.0084%	8h	741.17	+0.005%	$3.3M	$21.7M	50x
Aster QQQUSDT	0.0000%	8h	741.79	+0.089%	$824K	$863K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.80	+0.090%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.58	+0.061%	$21.4M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.55	+0.057%	$5.4M	$6.0M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.92	+0.107%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.50	+0.050%	$16.8M	$7.2M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.21	+0.146%	$2K	$1.7M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	741.31	+0.024%	$423K	$156K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	741.84	+0.096%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	741.89	+0.103%	$362K	$1.6M	10x	as long as short
BloFin QQQ-USDT	+0.0008%	8h	741.38	+0.034%	$1.1M	$275K	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.51	+0.051%	$1.2M	$490K	20x	as long as short
Binance QQQUSDT	+0.0018%	8h	741.82	+0.093%	$70.2M	$141.7M	25x	as long as short
Lighter QQQ	+0.0032%	1h	741.63	+0.067%	$7.7M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.93	+0.108%	$37.4M	$80.5M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.98	−0.020%	$645K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.59	+0.197%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.32	+0.026%	$3.4M	$361K	20x	as long as short
ApeX Omni QQQUSDTlong	+0.0100%	1h	741.13	long leg	$20K	$2.2M	50x
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.44	+0.042%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.93	−0.028%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0135%	1h	741.30	+0.023%	$1.6M	$756K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0137%	8h	741.76	+0.085%	$325K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0227%	1h	741.18	+0.007%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0601%	4h	741.51	+0.051%	$758K	$335K	20x	as long as short