Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.013%

Price spread now: Bitget against Arcus+0.088%7-day average +0.175% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on Arcus Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.021%+$2 on $10k

Price spread, last 7 days+0.003%$0 · spread now +0.088%, 7d avg +0.175%

Together, before fees+0.023%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.088% cheaper against Arcus than usual: you would sell low and buy high (spread +0.088% now, against its 7-day average of +0.175%). If the spread goes back, that is −$9 on $10k: about 45 hours of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.021% in total) that is about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus QQQ-USD	742.45	0.0040	pay 0.0005% / 1h	48m 16s	$737K	$1.4M	25x
Short	Bitget QQQUSDT	743.10	0.0196	get 0.0196% / 8h	48m 16s	$16.9M	$7.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Arcus. 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 ArcusbpFee BitgetbpOrdersPrice spread, now +0.088%Rate

Funding earned: $32.7
Price spread: +0.088% → +0.175%: −$8.76
Slippage, 4 orders: −$5.65
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bitget: 6 bp × 2 orders: −$12
Net: $1.79
Costs to cover: 0.222%
Break-even: 6.6 days

Slippage from Arcus: live order book, 1 min ago; Bitget: live order book, just now.

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 Arcus live order book, 1 min ago	0.34 bp	4.3 bp −$4	4.3 bp −$43	12.0 bp −$1,204	doesn't fit
Sell Bitget live order book, just now	0.07 bp	6.5 bp −$6	9.4 bp −$94	12.2 bp −$1,216	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 −0.0070% / S +0.0181%	1h	743.28	+0.112%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	743.01	+0.075%	$841K	$780K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.10	+0.088%	$21.5M	$27.7M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.71	+0.035%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.72	+0.171%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.13	+0.092%	$257K	$26K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.64	+0.160%	$361K	$1.4M	10x	as long as short
BloFin QQQ-USDT	+0.0028%	8h	742.84	+0.053%	$1.0M	$468K	20x	as long as short
Arcus QQQ-USDlong	+0.0040%	1h	742.45	long leg	$737K	$1.4M	25x
Vest QQQ-USD-PERP	+0.0046%	1h	743.67	+0.164%	—	$621K	50x	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	+0.0046%	8h	743.13	+0.092%	$17.6M	$10.3M	—	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	742.20	−0.034%	$4.2M	$2.1M	20x	as long as short
Lighter RH QQQ	+0.0056%	1h	743.46	+0.136%	$37.7M	$78.7M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0072%	1h	742.80	+0.047%	$1.2M	$866K	20x	as long as short
Binance QQQUSDT	+0.0078%	8h	743.28	+0.111%	$71.0M	$160.6M	25x	as long as short
Lighter QQQ	+0.0096%	1h	743.11	+0.089%	$7.7M	$20.8M	30x	as long as short
Bybit QQQUSDT	+0.0097%	8h	743.42	+0.131%	$10.7M	$5.2M	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.76	+0.042%	$3.4M	$424K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.72	+0.036%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.96	+0.069%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.55	+0.013%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0182%	1h	742.76	+0.042%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0187%	8h	743.36	+0.122%	$323K	$1.8M	10x	as long as short
RISEx QQQ/USDC	+0.0193%	1h	743.42	+0.131%	$5.4M	$8.9M	25x	as long as short
Phoenix QQQ	+0.0194%	1h	742.65	+0.027%	$38K	$73K	20x	as long as short
Bitget QQQUSDTshort	+0.0196%	8h	743.10	+0.088%	$16.9M	$7.1M	20x
Deribit QQQ_USDC-PERPETUAL	+0.0275%	1h	743.05	+0.081%	$424K	$185K	20x	as long as short
edgeX QQQUSDC	+0.0925%	4h	743.13	+0.091%	$760K	$336K	20x	as long as short