Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0075%/8h= −8.2% APRpaid last 24h +0.001%

Price spread now: Binance against Deribit+0.054%55s7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.198% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.172%−$17 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.054%, 7d avg +0.050%

Together, before fees−0.195%−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.050%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 55 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	Deribit QQQ_USDC-PERPETUAL	741.72	0.0128	pay 0.0016% / 1h	0m 25s	$424K	$125K	20x
Short	Binance QQQUSDT	742.12	0.0053	get 0.0053% / 8h	7h 00m	$70.7M	$141.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.054%Rate

Funding earned: −$15.67
Price spread: +0.054% → +0.050%: $0.46
Slippage, 4 orders: −$2.81
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$35.02
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from Deribit: live order book, 33 min ago; Binance: live order book, 13 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 Deribit live order book, 33 min ago	0.07 bp	3.6 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.07 bp	5.1 bp −$5	5.2 bp −$52	9.2 bp −$923	29.1 bp −$14.6K

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 −0.0191% / S +0.0276%	1h	742.04	+0.044%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	742.01	+0.039%	$857K	$902K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.90	+0.024%	$21.6M	$30.1M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.84	+0.016%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.61	−0.015%	$3.4M	$21.1M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.14	+0.057%	$16.5M	$5.2M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.67	+0.128%	$2K	$1.6M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.27	+0.074%	$251K	$38K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.51	+0.107%	$358K	$1.6M	10x	as long as short
BloFin QQQ-USDT	+0.0023%	8h	741.88	+0.022%	$1.1M	$280K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International QQQ-PERP-INTX	+0.0024%	1h	741.51	−0.028%	$1.2M	$510K	20x	as long as short
Variational Omni QQQ	+0.0027%	8h	741.87	+0.020%	$16.7M	$7.2M	—	as long as short
Lighter QQQ	+0.0032%	1h	741.65	−0.009%	$7.7M	$15.7M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.08	+0.049%	$38.3M	$82.0M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.16	−0.076%	$647K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.95	+0.166%	—	$337K	50x	as long as short
Ondo Perps QQQ-USD.P	+0.0047%	1h	740.90	−0.111%	$4.2M	$1.8M	20x	as long as short
Binance QQQUSDTshort	+0.0053%	8h	742.12	+0.054%	$70.7M	$141.4M	25x
Bybit QQQUSDT	+0.0075%	8h	742.06	+0.046%	$10.7M	$5.0M	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.62	−0.013%	$3.4M	$409K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.54	−0.024%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.81	+0.012%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.31	−0.055%	$92K	$1K	10x	as long as short
Deribit QQQ_USDC-PERPETUALlong	+0.0128%	1h	741.72	long leg	$424K	$125K	20x
Nado QQQ-PERP	+0.0143%	1h	741.44	−0.038%	$1.6M	$751K	20x	as long as short
Phoenix QQQ	+0.0248%	1h	741.49	−0.031%	$38K	$65K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0300%	8h	742.11	+0.053%	$322K	$2.0M	10x	as long as short
edgeX QQQUSDC	+0.0565%	4h	741.97	+0.034%	$759K	$336K	20x	as long as short