Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h +0.020%

Price spread now: Orderly against Arcus+0.067%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.067% dearer against Arcus than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus QQQ-USD	741.00	0.0040	pay 0.0005% / 1h	19m 36s	$645K	$1.7M	25x
Short	Orderly PERP_QQQ_USDC_mythos	741.50	0.0100	get 0.0100% / 8h	19m 36s	$12K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.067%Rate

Funding earned: $12.54
Price spread: +0.067% → 0.000%: $6.75
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $8.79
Costs to cover: 0.105%
Break-even: 2.1 days

Slippage unknown: Arcus: 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 Arcus live order book, 4 min ago	1.08 bp	5.8 bp −$6	9.0 bp −$90	26.3 bp −$2,634	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 −0.0175% / S +0.0263%	1h	741.76	+0.103%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0158%	1h	740.30	−0.094%	$4.2M	$1.8M	20x	as long as short
Gate QQQ_USDT	−0.0086%	8h	741.15	+0.020%	$3.3M	$21.7M	50x	as long as short
BloFin QQQ-USDT	−0.0007%	8h	741.53	+0.072%	$1.1M	$275K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.80	+0.109%	$824K	$863K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.78	+0.105%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.52	+0.070%	$21.4M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.54	+0.073%	$5.4M	$5.9M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.90	+0.121%	$16.5M	$5.3M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.66	+0.088%	$16.8M	$7.2M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	742.03	+0.139%	$2K	$1.7M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	741.97	+0.131%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.25	+0.169%	$361K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.15	+0.020%	$1.2M	$489K	20x	as long as short
Binance QQQUSDT	+0.0019%	8h	741.79	+0.107%	$70.2M	$141.3M	25x	as long as short
Lighter QQQ	+0.0032%	1h	741.54	+0.073%	$7.7M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.89	+0.120%	$37.3M	$80.6M	50x	as long as short
Arcus QQQ-USDlong	+0.0040%	1h	741.00	long leg	$645K	$1.7M	25x
Vest QQQ-USD-PERP	+0.0046%	1h	742.65	+0.223%	—	$337K	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0074%	1h	741.47	+0.063%	$424K	$156K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.32	+0.043%	$3.4M	$362K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.17	+0.023%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	741.50	+0.067%	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	740.97	−0.003%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0134%	1h	741.34	+0.045%	$1.6M	$750K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0137%	8h	741.76	+0.103%	$325K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0227%	1h	741.12	+0.016%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0345%	4h	741.48	+0.065%	$758K	$335K	20x	as long as short