Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0793%/8h= −86.9% APRpaid last 24h −0.098%

Price spread now: Ondo Perps against edgeX−0.138%54s7-day average −0.177% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.331%−$33 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.138%, 7d avg −0.177%

Together, before fees−0.343%+ Points / potential airdropedgeX: Active · Ondo Perps: Active · farm board−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.039% dearer against edgeX than usual: you sell high and buy low (spread −0.138% now, against its 7-day average of −0.177%): +$4 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.331% in total) that is about 20 hours. The two prices were read 54 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 -0.331% in total (about -17.2% 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	741.69	0.0786	pay 0.0393% / 4h	1h 30m	$758K	$336K	20x
Short	Ondo Perps QQQ-USD.P	740.66	−0.0007	pay 0.0001% / 1h	30m 16s	$4.2M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.138%Rate

Funding earned: −$166.59
Price spread: −0.138% → −0.177%: $3.88
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$176.71
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 13 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 13 min ago	4.11 bp	8.7 bp −$9	9.8 bp −$98	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0160% / S +0.0252%	1h	741.82	+0.017%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0019%	8h	741.21	−0.064%	$3.3M	$21.5M	50x	as long as short
BloFin QQQ-USDT	−0.0017%	8h	741.60	−0.012%	$1.1M	$277K	20x	as long as short
Ondo Perps QQQ-USD.Pshort	−0.0007%	1h	740.66	−0.138%	$4.2M	$1.8M	20x
Aster QQQUSDT	0.0000%	8h	741.87	+0.025%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.80	+0.015%	$10.5M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.68	−0.001%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.60	−0.012%	$5.5M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.02	+0.045%	$16.6M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.69	0.000%	$16.9M	$7.3M	—	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	742.46	+0.104%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	741.94	+0.034%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.06	+0.050%	$362K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0002%	8h	741.93	+0.033%	$70.1M	$144.5M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.36	−0.044%	$1.2M	$547K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.72	+0.004%	$7.7M	$15.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.09	+0.054%	$37.0M	$80.4M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.87	−0.110%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.79	+0.149%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.45	−0.032%	$3.4M	$352K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.39	−0.040%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.59	−0.013%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.11	−0.078%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0114%	8h	741.98	+0.039%	$322K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0136%	1h	741.32	−0.050%	$1.5M	$762K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.41	−0.037%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0222%	1h	741.73	+0.006%	$424K	$154K	20x	as long as short
edgeX QQQUSDClong	+0.0786%	4h	741.69	long leg	$758K	$336K	20x