Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.027%

Price spread now: OKX against ApeX Omni+0.050%50s7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as 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−$300.302% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.050%, 7d avg +0.063%

Together, before fees−0.216%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.063%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 50 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	743.44	0.0100	pay 0.0013% / 1h	52m 40s	$20K	$2.2M	50x
Short	OKX QQQ-USDT-SWAP	743.81	0	get 0.0000% / 8h	7h 52m	$21.5M	$25.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$21
Price spread: +0.050% → +0.063%: −$1.37
Slippage, 4 orders: −$10.18
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$52.55
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 1 min ago; OKX: live order book, 1 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	3.77 bp	9.7 bp −$10	22.5 bp −$225	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.07 bp	5.6 bp −$6	6.9 bp −$69	14.4 bp −$1,441	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	−0.0358%	1h	742.38	−0.143%	$4.2M	$2.0M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0081% / S +0.0190%	1h	743.97	+0.071%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0022%	8h	743.81	+0.050%	$1.0M	$318K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.54	+0.013%	$841K	$757K	20x	as long as short
OKX QQQ-USDT-SWAPshort	0.0000%	8h	743.81	+0.050%	$21.5M	$25.4M	50x
Gate QQQ_USDT	0.0000%	8h	743.55	+0.015%	$3.1M	$26.2M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.43	+0.133%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.14	−0.040%	$257K	$28K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.36	+0.124%	$362K	$1.4M	10x	as long as short
Bybit QQQUSDT	+0.0018%	8h	744.04	+0.081%	$10.7M	$4.8M	50x	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	743.77	+0.044%	$7.6M	$18.1M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.08	+0.086%	$37.4M	$78.6M	50x	as long as short
Variational Omni QQQ	+0.0040%	8h	743.83	+0.053%	$17.1M	$10.8M	—	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.08	−0.048%	$746K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.49	+0.141%	—	$388K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	743.51	+0.009%	$1.2M	$624K	20x	as long as short
Binance QQQUSDT	+0.0068%	8h	743.96	+0.070%	$71.0M	$155.8M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.57	+0.017%	$3.4M	$413K	20x	as long as short
ApeX Omni QQQUSDTlong	+0.0100%	1h	743.44	long leg	$20K	$2.2M	50x
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.64	+0.027%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.28	−0.022%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0112%	1h	743.55	+0.015%	$1.5M	$1.2M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0116%	8h	743.95	+0.068%	$316K	$1.8M	10x	as long as short
Bitget QQQUSDT	+0.0171%	8h	744.00	+0.075%	$16.9M	$6.6M	20x	as long as short
RISEx QQQ/USDC	+0.0208%	1h	743.94	+0.067%	$5.6M	$9.0M	25x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0221%	1h	743.75	+0.042%	$425K	$147K	20x	as long as short
Phoenix QQQ	+0.0258%	1h	743.43	−0.001%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0662%	4h	743.73	+0.039%	$760K	$335K	20x	as long as short