Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h +0.076%

Price spread now: Lighter RH against edgeX+0.028%50s7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as 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−$180.177% of the position

Long on edgeX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 3 days (all we have)−0.036%−$4 · spread now +0.028%, 7d avg −0.006%

Together, before fees+0.025%+ Points / potential airdropedgeX: Active · Lighter RH: Points live · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.035% dearer against edgeX than usual: you sell high and buy low (spread +0.028% now, against its 7-day average of −0.006%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 hours. Mind the row above: over the last 7 days funding on this pair paid +0.061%, so the current rate has only just turned against you. The two prices were read 50 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	edgeX QQQUSDC	742.22	0.0103	pay 0.0051% / 4h	1h 46m	$759K	$336K	20x
Short	Lighter RH QQQ	742.43	0.0032	get 0.0004% / 1h	46m 26s	$37.7M	$81.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$14.87
Price spread: +0.028% → −0.006%: $3.45
Slippage, 4 orders: −$8.72
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$29.15
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from edgeX: live order book, 37 min ago; Lighter RH: 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 edgeX live order book, 37 min ago	4.18 bp	8.7 bp −$9	9.7 bp −$97	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	0.14 bp	0.1 bp $0	0.4 bp −$4	6.3 bp −$635	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 −0.0066% / S +0.0178%	1h	742.21	−0.002%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0026%	1h	741.25	−0.131%	$4.2M	$2.2M	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.03	−0.026%	$21.5M	$28.3M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.96	−0.035%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.66	+0.059%	$2K	$2.4M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	741.88	−0.046%	$424K	$305K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.43	+0.028%	$256K	$32K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.63	+0.055%	$361K	$1.4M	10x	as long as short
Aster QQQUSDT	+0.0005%	8h	741.93	−0.040%	$840K	$780K	20x	as long as short
BloFin QQQ-USDT	+0.0006%	8h	742.00	−0.030%	$1.0M	$483K	20x	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	742.09	−0.018%	$7.8M	$21.5M	30x	as long as short
Lighter RH QQQshort	+0.0032%	1h	742.43	+0.028%	$37.7M	$81.1M	50x
Arcus QQQ-USD	+0.0040%	1h	741.40	−0.111%	$736K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.73	+0.069%	—	$621K	50x	as long as short
Variational Omni QQQ	+0.0064%	8h	742.23	+0.002%	$17.2M	$10.1M	—	as long as short
Binance QQQUSDT	+0.0086%	8h	742.15	−0.010%	$69.6M	$162.6M	25x	as long as short
Bybit QQQUSDT	+0.0086%	8h	742.28	+0.008%	$10.7M	$5.4M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0088%	1h	741.68	−0.073%	$1.2M	$873K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.81	−0.055%	$3.4M	$440K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.96	−0.035%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.19	−0.139%	$7K	$16K	20x	as long as short
edgeX QQQUSDClong	+0.0103%	4h	742.22	long leg	$759K	$336K	20x
Aevo QQQ-PERP	+0.0104%	1h	741.61	−0.082%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0169%	1h	741.75	−0.064%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0187%	8h	742.41	+0.025%	$323K	$1.7M	10x	as long as short
Bitget QQQUSDT	+0.0219%	8h	742.21	−0.001%	$16.7M	$7.3M	20x	as long as short
Phoenix QQQ	+0.0259%	1h	741.88	−0.046%	$38K	$73K	20x	as long as short
RISEx QQQ/USDC	+0.0315%	1h	742.34	+0.016%	$5.4M	$9.3M	25x	as long as short