Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0269%/8h= −29.4% APRpaid last 24h −0.028%

Price spread now: GMX against Bybit+0.009%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit QQQUSDT	742.76	0.0083	pay 0.0083% / 8h	1h 06m	$10.7M	$5.4M	50x
Short	GMX QQQ/USD [ETH-USDC]	742.83	L −0.0076% / S +0.0186%	pay 0.0023% / 1h	6m 40s	$25K	—	26x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$56.4
Price spread: +0.009% → 0.000%: $0.88
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$78.52
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 7 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 Bybit live order book, 7 min ago	0.07 bp	5.9 bp −$6	11.5 bp −$115	77.7 bp −$7,771	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 −0.0076% / S +0.0186%	1h	742.83	+0.009%	$25K	—	26x
Ondo Perps QQQ-USD.P	−0.0038%	1h	741.66	−0.148%	$4.2M	$2.1M	20x	as long as short
BloFin QQQ-USDT	−0.0026%	8h	742.22	−0.073%	$1.0M	$478K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.53	−0.031%	$840K	$780K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.66	−0.013%	$21.5M	$27.7M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.53	−0.031%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.27	+0.069%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.04	+0.038%	$257K	$26K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.33	+0.077%	$360K	$1.4M	10x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.98	+0.030%	$37.7M	$82.0M	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	+0.0035%	8h	742.64	−0.016%	$17.6M	$10.4M	—	as long as short
Lighter QQQ	+0.0040%	1h	742.69	−0.009%	$7.8M	$21.6M	30x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.00	−0.102%	$737K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.23	+0.063%	—	$621K	50x	as long as short
Binance QQQUSDT	+0.0068%	8h	742.87	+0.015%	$70.0M	$160.8M	25x	as long as short
Bybit QQQUSDTlong	+0.0083%	8h	742.76	long leg	$10.7M	$5.4M	50x
Coinbase International QQQ-PERP-INTX	+0.0088%	1h	742.43	−0.044%	$1.2M	$868K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.33	−0.058%	$3.4M	$429K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.39	−0.050%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.15	−0.082%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.05	−0.096%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0160%	1h	742.37	−0.052%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0171%	8h	742.97	+0.028%	$319K	$1.8M	10x	as long as short
Bitget QQQUSDT	+0.0192%	8h	742.87	+0.015%	$16.9M	$7.0M	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0222%	1h	742.61	−0.020%	$424K	$227K	20x	as long as short
Phoenix QQQ	+0.0259%	1h	742.40	−0.048%	$38K	$73K	20x	as long as short
RISEx QQQ/USDC	+0.0315%	1h	742.91	+0.021%	$5.3M	$9.0M	25x	as long as short
edgeX QQQUSDC	+0.0406%	4h	742.66	−0.013%	$759K	$335K	20x	as long as short