Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.005%

Price spread now: Bitget against Deribit+0.034%7-day average +0.092% · 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−$28as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.034%−$3 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now +0.034%, 7d avg +0.092%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.058% cheaper against Deribit than usual: you would sell low and buy high (spread +0.034% now, against its 7-day average of +0.092%). If the spread goes back, that is −$6 on $10k: about 3.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit QQQ_USDC-PERPETUAL	743.69	0.0113	pay 0.0014% / 1h	56m 05s	$425K	$147K	20x
Short	Bitget QQQUSDT	743.94	0.0169	get 0.0169% / 8h	7h 56m	$16.9M	$6.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.034%Rate

Funding earned: $11.72
Price spread: +0.034% → +0.092%: −$5.81
Slippage, 4 orders: −$3.57
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$16.67
Costs to cover: 0.226%
Break-even: 17.0 days

Slippage from Deribit: live order book, 18 min ago; Bitget: live order book, 3 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, 18 min ago	1.28 bp	4.8 bp −$5	8.0 bp −$80	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.07 bp	6.2 bp −$6	8.7 bp −$87	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
Ondo Perps QQQ-USD.P	−0.0334%	1h	742.19	−0.202%	$4.2M	$2.0M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0080% / S +0.0189%	1h	743.89	+0.028%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0027%	8h	743.10	−0.079%	$1.0M	$318K	20x	as long as short
Gate QQQ_USDT	−0.0013%	8h	743.43	−0.035%	$3.1M	$26.0M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	743.56	−0.017%	$839K	$757K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.81	+0.016%	$21.5M	$25.4M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.35	+0.089%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.16	−0.071%	$257K	$28K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.03	+0.046%	$362K	$1.4M	10x	as long as short
Bybit QQQUSDT	+0.0027%	8h	744.03	+0.046%	$10.7M	$4.8M	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QQQ	+0.0032%	1h	743.78	+0.012%	$7.6M	$18.1M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.17	+0.065%	$37.4M	$78.4M	50x	as long as short
Variational Omni QQQ	+0.0040%	8h	743.83	+0.019%	$17.1M	$10.8M	—	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.84	−0.114%	$747K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.43	+0.100%	—	$402K	50x	as long as short
edgeX QQQUSDC	+0.0056%	4h	743.46	−0.031%	$760K	$338K	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	743.04	−0.087%	$1.2M	$628K	20x	as long as short
Binance QQQUSDT	+0.0069%	8h	743.96	+0.036%	$70.9M	$156.6M	25x	as long as short
Nado QQQ-PERP	+0.0092%	1h	743.50	−0.025%	$1.5M	$1.2M	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.59	−0.013%	$3.4M	$413K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.14	−0.074%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.60	−0.012%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.26	−0.057%	$92K	$1K	10x	as long as short
Deribit QQQ_USDC-PERPETUALlong	+0.0113%	1h	743.69	long leg	$425K	$147K	20x
Bitget QQQUSDTshort	+0.0169%	8h	743.94	+0.034%	$16.9M	$6.7M	20x
GRVT QQQ_USDT_Perp	+0.0187%	8h	743.68	−0.001%	$316K	$1.8M	10x	as long as short
Phoenix QQQ	+0.0194%	1h	743.19	−0.067%	$38K	$66K	20x	as long as short
RISEx QQQ/USDC	+0.0208%	1h	743.90	+0.028%	$5.6M	$9.0M	25x	as long as short