Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0565%/8h= −61.9% APRpaid last 24h −0.124%

Price spread now: Gate against edgeX−0.052%52s7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

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

costs, in and out, $10k−$400.396% of the position

Long on edgeX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now −0.052%, 7d avg −0.022%

Together, before fees−0.092%+ Points / potential airdropedgeX: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Gate is 0.030% cheaper against edgeX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.022%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.154% in total (about -8.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX QQQUSDC	741.97	0.0565	pay 0.0283% / 4h	3h 02m	$759K	$336K	20x
Short	Gate QQQ_USDT	741.59	0	get 0.0000% / 8h	7h 02m	$3.4M	$21.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against edgeX. 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 edgeXbpFee GatebpOrdersPrice spread, now −0.052%Rate

Funding earned: −$118.71
Price spread: −0.052% → −0.022%: −$3.01
Slippage, 4 orders: −$15.64
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$161.36
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from edgeX: live order book, 31 min ago; Gate: live order book, 1 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 edgeX live order book, 31 min ago	4.12 bp	8.7 bp −$9	9.6 bp −$96	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.61 bp	13.7 bp −$14	17.5 bp −$175	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 −0.0191% / S +0.0276%	1h	742.13	+0.020%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	741.54	−0.059%	$856K	$903K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.84	−0.018%	$21.6M	$30.1M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.70	−0.037%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDTshort	0.0000%	8h	741.59	−0.052%	$3.4M	$21.1M	50x
Bitget QQQUSDT	0.0000%	8h	742.01	+0.005%	$16.5M	$5.2M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.38	+0.055%	$2K	$1.6M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.35	+0.051%	$251K	$38K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.33	+0.048%	$359K	$1.6M	10x	as long as short
BloFin QQQ-USDT	+0.0012%	8h	741.76	−0.029%	$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
Variational Omni QQQ	+0.0023%	8h	741.87	−0.014%	$16.7M	$7.2M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0024%	1h	741.51	−0.062%	$1.2M	$510K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.76	−0.029%	$7.7M	$15.6M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.16	+0.025%	$38.1M	$81.7M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.13	−0.114%	$647K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.77	+0.107%	—	$337K	50x	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	740.54	−0.193%	$4.2M	$1.8M	20x	as long as short
Binance QQQUSDT	+0.0052%	8h	742.04	+0.009%	$70.7M	$141.4M	25x	as long as short
Bybit QQQUSDT	+0.0066%	8h	742.23	+0.035%	$10.7M	$5.0M	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0074%	1h	741.64	−0.045%	$424K	$125K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.59	−0.052%	$3.4M	$408K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.54	−0.058%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.65	−0.044%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.14	−0.112%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0144%	1h	741.44	−0.072%	$1.6M	$752K	20x	as long as short
Phoenix QQQ	+0.0248%	1h	741.49	−0.065%	$38K	$65K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0300%	8h	742.11	+0.019%	$322K	$2.0M	10x	as long as short
edgeX QQQUSDClong	+0.0565%	4h	741.97	long leg	$759K	$336K	20x