Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Orderly against ApeX Omni+0.024%70s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.024% dearer against ApeX Omni than usual: you sell high and buy low, +$2 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 70 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	741.86	0.0100	pay 0.0013% / 1h	49m 41s	$20K	$2.2M	50x
Short	Orderly PERP_QQQ_USDC_mythos	742.04	0.0100	get 0.0100% / 8h	1h 49m	$12K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → 0.000%: $2.43
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$13.57
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 4 min ago; Orderly: no order-book sample. 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 ApeX Omni live order book, 4 min ago	3.77 bp	9.8 bp −$10	27.8 bp −$278	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.0156% / S +0.0249%	1h	742.37	+0.068%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0033%	1h	741.01	−0.115%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0012%	8h	742.07	+0.028%	$1.1M	$278K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.29	+0.058%	$823K	$858K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.39	+0.071%	$70.2M	$145.5M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	742.40	+0.073%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.16	+0.040%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.21	+0.047%	$5.4M	$6.3M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.69	−0.023%	$3.3M	$21.5M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.53	+0.090%	$16.6M	$5.6M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QQQ	0.0000%	8h	742.22	+0.049%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.81	+0.128%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.60	+0.100%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.53	+0.090%	$365K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.73	−0.018%	$1.2M	$551K	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.14	+0.038%	$7.6M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.51	+0.088%	$36.9M	$79.6M	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0033%	1h	741.93	+0.009%	$424K	$153K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.34	−0.070%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.20	+0.181%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.96	+0.013%	$3.4M	$352K	20x	as long as short
ApeX Omni QQQUSDTlong	+0.0100%	1h	741.86	long leg	$20K	$2.2M	50x
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	742.04	+0.024%	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	741.53	−0.044%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0105%	8h	742.52	+0.089%	$318K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0142%	1h	741.79	−0.009%	$1.5M	$749K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.83	−0.004%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0513%	4h	742.27	+0.056%	$759K	$335K	20x	as long as short