Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0221%/8h= −24.2% APRpaid last 24h −0.013%

Price spread now: Gate against Deribit−0.023%51s7-day average +0.019% · you buy dearer than you sell

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−$300.300% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.118%−$12 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.023%, 7d avg +0.019%

Together, before fees−0.073%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 0.042% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.019%). Swap the legs. The two prices were read 51 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	742.78	0.0221	pay 0.0028% / 1h	13m 26s	$424K	$152K	20x
Short	Gate QQQ_USDT	742.61	0	get 0.0000% / 8h	2h 13m	$3.3M	$21.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.023%Rate

Funding earned: −$46.5
Price spread: −0.023% → +0.019%: −$4.21
Slippage, 4 orders: −$8.01
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$80.72
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from Deribit: live order book, 35 min ago; Gate: live order book, 5 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, 35 min ago	0.07 bp	3.6 bp −$4	5.1 bp −$51	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.22 bp	9.7 bp −$10	15.6 bp −$156	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 −0.0151% / S +0.0245%	1h	743.14	+0.049%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0015%	8h	742.46	−0.043%	$1.1M	$277K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.65	−0.018%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	743.15	+0.050%	$69.8M	$144.2M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	743.14	+0.048%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.86	+0.011%	$21.6M	$28.1M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.96	+0.025%	$5.4M	$6.7M	25x	as long as short
Gate QQQ_USDTshort	0.0000%	8h	742.61	−0.023%	$3.3M	$21.4M	50x
Bitget QQQUSDT	0.0000%	8h	743.19	+0.055%	$16.6M	$5.6M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	742.66	−0.016%	$16.9M	$7.2M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	743.40	+0.083%	$1K	$1.8M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.21	−0.077%	$1.2M	$539K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.02	+0.032%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.17	+0.053%	$363K	$1.6M	10x	as long as short
Ondo Perps QQQ-USD.P	+0.0005%	1h	741.43	−0.182%	$4.2M	$1.8M	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.84	+0.008%	$7.6M	$15.7M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.19	+0.055%	$36.9M	$80.6M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.74	−0.140%	$691K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.97	+0.160%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0090%	8h	742.89	+0.015%	$315K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.65	−0.018%	$3.4M	$361K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.26	−0.070%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.78	0.000%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.13	−0.087%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0121%	1h	742.58	−0.027%	$1.5M	$749K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	742.54	−0.032%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUALlong	+0.0221%	1h	742.78	long leg	$424K	$152K	20x
edgeX QQQUSDC	+0.0614%	4h	742.65	−0.017%	$759K	$336K	20x	as long as short