Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.047%

Price spread now: Ondo Perps against Bybit−0.187%67s7-day average −0.216% · you buy dearer than you sell

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.187%, 7d avg −0.216%

Together, before fees−0.270%+ Points / potential airdropOndo Perps: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.029% dearer against Bybit than usual: you sell high and buy low (spread −0.187% now, against its 7-day average of −0.216%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.0 days. At the pace of the last 7 days (−0.274% in total) that is about 18 hours. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit QQQUSDT	742.40	0	get 0.0000% / 8h	1h 49m	$10.6M	$5.2M	50x
Short	Ondo Perps QQQ-USD.P	741.01	−0.0033	pay 0.0004% / 1h	49m 39s	$4.2M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.187%Rate

Funding earned: −$6.89
Price spread: −0.187% → −0.216%: $2.92
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$19.97
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; Ondo Perps: 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, 3 min ago	0.07 bp	7.6 bp −$8	12.1 bp −$121	85.6 bp −$8,562	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.005%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.Pshort	−0.0033%	1h	741.01	−0.187%	$4.2M	$1.8M	20x
BloFin QQQ-USDT	−0.0012%	8h	742.07	−0.044%	$1.1M	$278K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.32	−0.010%	$823K	$858K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.43	+0.004%	$70.2M	$145.4M	25x	as long as short
Bybit QQQUSDTlong	0.0000%	8h	742.40	long leg	$10.6M	$5.2M	50x
OKX QQQ-USDT-SWAP	0.0000%	8h	742.16	−0.032%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.22	−0.024%	$5.4M	$6.3M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.70	−0.094%	$3.3M	$21.5M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.46	+0.008%	$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	−0.024%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.81	+0.055%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.60	+0.027%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.53	+0.018%	$365K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.73	−0.090%	$1.2M	$551K	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.14	−0.035%	$7.6M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.51	+0.015%	$36.9M	$79.6M	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0033%	1h	741.93	−0.063%	$424K	$153K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.34	−0.143%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.20	+0.108%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.93	−0.063%	$3.4M	$352K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.86	−0.073%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.04	−0.048%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.53	−0.117%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0107%	8h	742.52	+0.016%	$318K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0142%	1h	741.79	−0.082%	$1.5M	$749K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.83	−0.077%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0513%	4h	742.27	−0.017%	$759K	$335K	20x	as long as short