Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0217%/8h= +23.7% APRpaid last 24h −0.011%

Price spread now: Phoenix against BloFin−0.032%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.331%+$33 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.032% cheaper against BloFin than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 12 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin QQQ-USDT	742.07	−0.0012	get 0.0012% / 8h	1h 50m	$1.1M	$278K	20x
Short	Phoenix QQQ	741.83	0.0205	get 0.0026% / 1h	50m 26s	$38K	$66K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.032%Rate

Funding earned: $45.54
Price spread: −0.032% → 0.000%: −$3.23
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $23.31
Costs to cover: 0.190%
Break-even: 3.4 days

Slippage unknown: BloFin: live order book, 2 min ago; Phoenix: 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, 2 min ago	0.07 bp	6.1 bp −$6	7.5 bp −$75	12.5 bp −$1,253	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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 −0.0156% / S +0.0249%	1h	742.37	+0.040%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0033%	1h	741.01	−0.143%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDTlong	−0.0012%	8h	742.07	long leg	$1.1M	$278K	20x
Aster QQQUSDT	0.0000%	8h	742.30	+0.030%	$823K	$858K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.37	+0.040%	$70.2M	$145.5M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	742.38	+0.042%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.09	+0.003%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.21	+0.018%	$5.4M	$6.3M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.63	−0.059%	$3.3M	$21.5M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.41	+0.046%	$16.6M	$5.6M	20x	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	0.0000%	8h	742.22	+0.021%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.75	+0.092%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.60	+0.071%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.48	+0.055%	$365K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.73	−0.046%	$1.2M	$551K	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.09	+0.003%	$7.6M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.46	+0.053%	$36.9M	$79.6M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.34	−0.098%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.20	+0.152%	—	$337K	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0087%	1h	741.94	−0.018%	$424K	$153K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.94	−0.018%	$3.4M	$352K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.86	−0.028%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.96	−0.015%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.46	−0.083%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0105%	8h	742.52	+0.061%	$318K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0142%	1h	741.79	−0.038%	$1.5M	$749K	20x	as long as short
Phoenix QQQshort	+0.0205%	1h	741.83	−0.032%	$38K	$66K	20x
edgeX QQQUSDC	+0.0513%	4h	742.27	+0.028%	$759K	$335K	20x	as long as short