Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.023%

Price spread now: Orderly against Coinbase International−0.038%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Orderly is 0.038% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 40 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International QQQ-PERP-INTX	740.02	0.0024	pay 0.0003% / 1h	31m 54s	$1.2M	$495K	20x
Short	Orderly PERP_QQQ_USDC_mythos	739.74	0.0100	get 0.0100% / 8h	7h 31m	$12K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.038%Rate

Funding earned: $15.96
Price spread: −0.038% → 0.000%: −$3.78
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$3.82
Costs to cover: 0.160%
Break-even: 8.7 days

Slippage unknown: Coinbase International: live order book, 2 min ago; Orderly: 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 Coinbase International live order book, 2 min ago	0.95 bp	5.9 bp −$6	7.3 bp −$73	37.2 bp −$3,722	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.0185% / S +0.0271%	1h	739.97	−0.007%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	739.90	−0.016%	$822K	$869K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	739.88	−0.019%	$10.6M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	739.59	−0.058%	$21.5M	$28.2M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	739.84	−0.024%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	739.48	−0.073%	$3.4M	$20.6M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	739.94	−0.011%	$16.5M	$5.1M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	740.40	+0.051%	$2K	$1.7M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	740.35	+0.045%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	740.24	+0.030%	$363K	$1.6M	10x	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	+0.0002%	8h	740.22	+0.027%	$16.7M	$7.2M	—	as long as short
Coinbase International QQQ-PERP-INTXlong	+0.0024%	1h	740.02	long leg	$1.2M	$495K	20x
BloFin QQQ-USDT	+0.0028%	8h	740.01	−0.001%	$1.1M	$274K	20x	as long as short
Binance QQQUSDT	+0.0031%	8h	739.89	−0.017%	$70.1M	$139.9M	25x	as long as short
Lighter QQQ	+0.0032%	1h	739.56	−0.062%	$7.6M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	739.96	−0.008%	$37.5M	$79.7M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	739.15	−0.118%	$646K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	740.87	+0.115%	—	$337K	50x	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	739.25	−0.104%	$4.2M	$1.8M	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	739.55	−0.064%	$3.4M	$384K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	739.84	−0.024%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	739.74	−0.038%	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	739.26	−0.103%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0154%	1h	739.52	−0.068%	$1.6M	$744K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0186%	8h	740.44	+0.057%	$326K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0210%	1h	739.64	−0.051%	$423K	$136K	20x	as long as short
Phoenix QQQ	+0.0248%	1h	739.82	−0.027%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0774%	4h	740.23	+0.028%	$757K	$336K	20x	as long as short