Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: SunX against ApeX Omni+0.175%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$830.835% of the position

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.175%, 7d avg +0.081%

Together, before fees−0.277%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.094% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.175% now, against its 7-day average of +0.081%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni QQQUSDT	741.49	0.0100	pay 0.0013% / 1h	47m 14s	$20K	$2.2M	50x
Short	SunX QQQ-USDT	742.79	0	get 0.0000% / 8h	4h 47m	$2K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.175%Rate

Funding earned: −$21
Price spread: +0.175% → +0.081%: $9.43
Slippage, 4 orders: −$65.46
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$95.04
Costs to cover: 0.835%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; SunX: live order book, 21 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, 5 min ago	3.77 bp	9.9 bp −$10	24.6 bp −$246	doesn't fit	doesn't fit
Sell SunX live order book, 21 min ago	21.64 bp	38.2 bp −$38	67.8 bp −$678	doesn't fit	doesn't fit

QQQ on 28 exchanges

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 −0.0203% / S +0.0285%	1h	742.33	+0.113%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0026%	8h	742.02	+0.071%	$1.1M	$242K	20x	as long as short
Ondo Perps QQQ-USD.P	−0.0010%	1h	740.64	−0.115%	$4.2M	$1.8M	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.68	+0.026%	$22.1M	$31.0M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.20	+0.095%	$5.5M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.92	+0.058%	$3.6M	$19.8M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.12	+0.085%	$17.0M	$6.0M	20x	as long as short
SunX QQQ-USDTshort	0.0000%	8h	742.79	+0.175%	$2K	$1.5M	10x
HTX QQQ-USDT	0.0000%	8h	742.47	+0.132%	$247K	$45K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.46	+0.131%	$358K	$1.7M	10x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus QQQ-USD	+0.0004%	1h	741.34	−0.020%	$654K	$1.4M	25x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0006%	1h	741.84	+0.047%	$398K	$103K	20x	as long as short
Aster QQQUSDT	+0.0008%	8h	742.16	+0.090%	$855K	$915K	20x	as long as short
Bybit QQQUSDT	+0.0017%	8h	742.06	+0.077%	$10.9M	$5.1M	50x	as long as short
Lighter QQQ	+0.0032%	1h	741.52	+0.004%	$7.2M	$16.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.31	+0.111%	$38.8M	$76.1M	50x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.31	+0.245%	—	$337K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	741.86	+0.050%	$1.2M	$585K	20x	as long as short
Variational Omni QQQ	+0.0078%	8h	742.62	+0.152%	$16.9M	$6.9M	—	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.80	+0.042%	$3.4M	$510K	20x	as long as short
ApeX Omni QQQUSDTlong	+0.0100%	1h	741.49	long leg	$20K	$2.2M	50x
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.99	+0.067%	$12K	$21K	20x	as long as short
Binance QQQUSDT	+0.0100%	8h	742.27	+0.105%	$72.4M	$148.5M	25x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.51	+0.002%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0113%	1h	741.87	+0.052%	$1.6M	$780K	20x	as long as short
edgeX QQQUSDC	+0.0187%	4h	741.91	+0.056%	$759K	$336K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0257%	8h	742.12	+0.086%	$322K	$2.1M	10x	as long as short
Phoenix QQQ	+0.0409%	1h	741.53	+0.005%	$38K	$59K	20x	as long as short