Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.007%

Price spread now: HTX against Coinbase International+0.111%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.234%−$23 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now +0.111%, 7d avg +0.087%

Together, before fees−0.361%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.024% dearer against Coinbase International than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of +0.087%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 5.0 days. At the pace of the last 7 days (−0.234% in total) that is about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International QQQ-PERP-INTX	741.12	0.0016	pay 0.0002% / 1h	49m 21s	$1.2M	$486K	20x
Short	HTX QQQ-USDT	741.94	0	get 0.0000% / 8h	49m 21s	$250K	$41K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Coinbase International. 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 Coinbase InternationalbpFee HTXbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$3.36
Price spread: +0.111% → +0.087%: $2.39
Slippage, 4 orders: −$6.76
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$29.73
Costs to cover: 0.288%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; HTX: live order book, 52 min ago.

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 Coinbase International live order book, 4 min ago	0.07 bp	5.7 bp −$6	7.5 bp −$75	39.2 bp −$3,922	doesn't fit
Sell HTX live order book, 52 min ago	2.69 bp	8.7 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit

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 −0.0168% / S +0.0258%	1h	741.79	+0.091%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0148%	1h	740.17	−0.128%	$4.2M	$1.8M	20x	as long as short
Gate QQQ_USDT	−0.0068%	8h	741.35	+0.031%	$3.3M	$21.6M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.93	+0.109%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.90	+0.105%	$10.7M	$5.3M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.72	+0.081%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.63	+0.069%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.02	+0.121%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.63	+0.069%	$16.8M	$7.4M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.51	+0.188%	$2K	$1.8M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDTshort	0.0000%	8h	741.94	+0.111%	$250K	$41K	30x
Phemex QQQUSDT	0.0000%	8h	741.95	+0.112%	$361K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0005%	8h	741.97	+0.114%	$70.0M	$143.0M	25x	as long as short
Coinbase International QQQ-PERP-INTXlong	+0.0016%	1h	741.12	long leg	$1.2M	$486K	20x
BloFin QQQ-USDT	+0.0026%	8h	741.47	+0.047%	$1.1M	$270K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.70	+0.078%	$7.7M	$15.2M	30x	as long as short
Lighter RH QQQ	+0.0040%	1h	742.05	+0.125%	$37.2M	$79.7M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.13	+0.001%	$640K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.84	+0.232%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.40	+0.038%	$3.4M	$356K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.30	+0.024%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.58	+0.062%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.14	+0.003%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0108%	1h	741.45	+0.045%	$1.6M	$758K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0122%	8h	741.91	+0.106%	$325K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0141%	1h	741.62	+0.067%	$424K	$155K	20x	as long as short
Phoenix QQQ	+0.0227%	1h	741.27	+0.020%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0659%	4h	741.61	+0.066%	$758K	$336K	20x	as long as short