Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h −0.006%

Price spread now: Bybit against Arcus+0.127%7-day average +0.161% · 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−$28as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$3 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.127%, 7d avg +0.161%

Together, before fees−0.066%−$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.035% cheaper against Arcus than usual: you would sell low and buy high (spread +0.127% now, against its 7-day average of +0.161%). If the spread goes back, that is −$3 on $10k: about 2.3 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus QQQ-USD	741.95	0.0040	pay 0.0005% / 1h	27m 41s	$737K	$1.4M	25x
Short	Bybit QQQUSDT	742.89	0.0091	get 0.0091% / 8h	1h 27m	$10.7M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.127%Rate

Funding earned: $10.7
Price spread: +0.127% → +0.161%: −$3.47
Slippage, 4 orders: −$8.81
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$17.08
Costs to cover: 0.243%
Break-even: 18.2 days

Slippage from Arcus: live order book, 1 min ago; Bybit: live order book, 6 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 Arcus live order book, 1 min ago	1.08 bp	4.1 bp −$4	4.1 bp −$41	12.3 bp −$1,226	doesn't fit
Sell Bybit live order book, 6 min ago	0.07 bp	7.2 bp −$7	10.1 bp −$101	38.6 bp −$3,861	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 +0.0182%	1h	742.86	+0.122%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0034%	1h	741.60	−0.047%	$4.2M	$2.2M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.52	+0.077%	$840K	$780K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.49	+0.073%	$21.5M	$28.2M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.29	+0.046%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.26	+0.177%	$2K	$2.4M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.68	+0.098%	$257K	$32K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.17	+0.164%	$360K	$1.4M	10x	as long as short
BloFin QQQ-USDT	+0.0009%	8h	742.13	+0.024%	$1.0M	$482K	20x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.00	+0.142%	$37.7M	$81.4M	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	+0.0040%	1h	742.65	+0.094%	$7.8M	$21.5M	30x	as long as short
Arcus QQQ-USDlong	+0.0040%	1h	741.95	long leg	$737K	$1.4M	25x
Vest QQQ-USD-PERP	+0.0046%	1h	743.38	+0.193%	—	$621K	50x	as long as short
Variational Omni QQQ	+0.0048%	8h	742.42	+0.064%	$17.2M	$10.1M	—	as long as short
Binance QQQUSDT	+0.0074%	8h	742.74	+0.106%	$69.6M	$160.9M	25x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0087%	1h	742.66	+0.096%	$424K	$229K	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0088%	1h	742.24	+0.039%	$1.2M	$868K	20x	as long as short
Bybit QQQUSDTshort	+0.0091%	8h	742.89	+0.127%	$10.7M	$5.4M	50x
KuCoin QQQUSDTM	+0.0100%	8h	742.29	+0.046%	$3.4M	$435K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.08	+0.018%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.35	−0.081%	$10K	$18K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.09	+0.019%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0156%	1h	742.47	+0.070%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0174%	8h	742.63	+0.092%	$317K	$1.8M	10x	as long as short
edgeX QQQUSDC	+0.0184%	4h	742.43	+0.065%	$759K	$337K	20x	as long as short
Bitget QQQUSDT	+0.0205%	8h	742.78	+0.112%	$16.8M	$7.2M	20x	as long as short
Phoenix QQQ	+0.0259%	1h	742.06	+0.015%	$38K	$73K	20x	as long as short
RISEx QQQ/USDC	+0.0315%	1h	742.85	+0.122%	$5.3M	$9.0M	25x	as long as short