Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.021%

Price spread now: Coinbase International against Gate+0.013%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.249%+$25 on $10k

Price spread, last 3 days (all we have)+0.066%+$7 · spread now +0.013%, 7d avg −0.028%

Together, before fees+0.316%+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.042% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate QQQ_USDT	742.22	0	get 0.0000% / 8h	1h 27m	$3.1M	$32.8M	50x
Short	Coinbase International QQQ-PERP-INTX	742.32	0.0088	get 0.0011% / 1h	27m 00s	$1.2M	$868K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.013%Rate

Funding earned: $18.48
Price spread: +0.013% → −0.028%: $4.16
Slippage, 4 orders: −$9.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$11.92
Costs to cover: 0.346%
Break-even: 11.5 days

Slippage from Gate: live order book, 2 min ago; Coinbase International: 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 Gate live order book, 2 min ago	0.07 bp	14.9 bp −$15	17.9 bp −$179	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	0.54 bp	5.9 bp −$6	7.8 bp −$78	41.3 bp −$4,132	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 −0.0071% / S +0.0182%	1h	742.68	+0.063%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0034%	1h	741.60	−0.084%	$4.2M	$2.2M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.47	+0.034%	$840K	$780K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.48	+0.035%	$21.5M	$28.2M	50x	as long as short
Gate QQQ_USDTlong	0.0000%	8h	742.22	long leg	$3.1M	$32.8M	50x
SunX QQQ-USDT	0.0000%	8h	743.16	+0.127%	$2K	$2.4M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.90	+0.092%	$257K	$32K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.01	+0.106%	$360K	$1.4M	10x	as long as short
BloFin QQQ-USDT	+0.0003%	8h	742.22	0.000%	$1.0M	$482K	20x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.94	+0.097%	$37.7M	$81.4M	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	+0.0040%	1h	742.56	+0.046%	$7.8M	$21.5M	30x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.95	−0.036%	$737K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.21	+0.133%	—	$621K	50x	as long as short
Variational Omni QQQ	+0.0048%	8h	742.42	+0.027%	$17.2M	$10.1M	—	as long as short
Binance QQQUSDT	+0.0074%	8h	742.65	+0.058%	$69.6M	$160.9M	25x	as long as short
Coinbase International QQQ-PERP-INTXshort	+0.0088%	1h	742.32	+0.013%	$1.2M	$868K	20x
Bybit QQQUSDT	+0.0091%	8h	742.76	+0.073%	$10.7M	$5.4M	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.18	−0.005%	$3.4M	$435K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.39	+0.023%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.14	−0.146%	$10K	$19K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.05	−0.023%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0155%	1h	742.36	+0.019%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0173%	8h	742.85	+0.084%	$321K	$1.8M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0195%	1h	742.50	+0.038%	$424K	$229K	20x	as long as short
Bitget QQQUSDT	+0.0205%	8h	742.66	+0.059%	$16.8M	$7.2M	20x	as long as short
Phoenix QQQ	+0.0259%	1h	742.34	+0.016%	$38K	$73K	20x	as long as short
RISEx QQQ/USDC	+0.0315%	1h	742.85	+0.085%	$5.3M	$9.0M	25x	as long as short
edgeX QQQUSDC	+0.0973%	4h	742.52	+0.040%	$759K	$334K	20x	as long as short