Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0245%/8h= −26.8% APRpaid last 24h −0.058%

Price spread now: GMX against BloFin+0.037%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. GMX is 0.037% dearer against BloFin than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin QQQ-USDT	741.72	−0.0010	get 0.0010% / 8h	1h 13m	$1.1M	$271K	20x
Short	GMX QQQ/USD [ETH-USDC]	742.00	L −0.0164% / S +0.0255%	pay 0.0032% / 1h	13m 17s	$25K	—	26x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$51.4
Price spread: +0.037% → 0.000%: $3.71
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$71.69
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 9 min ago; GMX: 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 BloFin live order book, 9 min ago	0.07 bp	6.7 bp −$7	7.6 bp −$76	10.2 bp −$1,024	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.0164% / S +0.0255%	1h	742.00	+0.037%	$25K	—	26x
Gate QQQ_USDT	−0.0041%	8h	741.28	−0.059%	$3.4M	$21.6M	50x	as long as short
Ondo Perps QQQ-USD.P	−0.0010%	1h	741.10	−0.084%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDTlong	−0.0010%	8h	741.72	long leg	$1.1M	$271K	20x
Aster QQQUSDT	0.0000%	8h	741.95	+0.030%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.96	+0.032%	$10.5M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.72	0.000%	$21.5M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.60	−0.016%	$5.5M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.00	+0.038%	$16.5M	$5.5M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.86	+0.018%	$16.9M	$7.3M	—	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	742.72	+0.135%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.09	+0.050%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.22	+0.067%	$364K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0004%	8h	741.99	+0.036%	$70.0M	$144.3M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.27	−0.061%	$1.2M	$489K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.81	+0.012%	$7.7M	$15.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.14	+0.057%	$37.1M	$81.2M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.11	−0.082%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.87	+0.155%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.49	−0.031%	$3.4M	$355K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.46	−0.035%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.65	−0.009%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.14	−0.078%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0119%	8h	742.04	+0.044%	$314K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0123%	1h	741.45	−0.036%	$1.6M	$769K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.49	−0.031%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0209%	1h	741.77	+0.007%	$424K	$155K	20x	as long as short
edgeX QQQUSDC	+0.0502%	4h	741.77	+0.007%	$758K	$337K	20x	as long as short