Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0059%/8h= +6.5% APRpaid last 24h +0.035%

Price spread now: BloFin against GMX−0.032%7-day average — · you buy dearer than you sell

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.032% cheaper against GMX than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 43 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX QQQ/USD [ETH-USDC]	742.34	L −0.0065% / S +0.0178%	get 0.0008% / 1h	48m 31s	$25K	—	26x
Short	BloFin QQQ-USDT	742.10	−0.0006	pay 0.0006% / 8h	1h 48m	$1.0M	$483K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against GMX. 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 GMXbpFee BloFinbpOrdersPrice spread, now −0.032%Rate

Funding earned: $12.48
Price spread: −0.032% → 0.000%: −$3.17
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$14.68
Costs to cover: 0.240%
Break-even: 15.2 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 4 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	0.07 bp	6.1 bp −$6	6.9 bp −$69	10.7 bp −$1,069	doesn't fit

GMX: 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]long	L −0.0065% / S +0.0178%	1h	742.34	long leg	$25K	—	26x
Ondo Perps QQQ-USD.P	−0.0014%	1h	741.25	−0.146%	$4.2M	$2.2M	20x	as long as short
BloFin QQQ-USDTshort	−0.0006%	8h	742.10	−0.032%	$1.0M	$483K	20x
OKX QQQ-USDT-SWAP	0.0000%	8h	741.99	−0.046%	$21.5M	$28.3M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.04	−0.040%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.77	+0.059%	$1K	$2.4M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	741.93	−0.055%	$424K	$305K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.63	+0.040%	$257K	$32K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.78	+0.060%	$362K	$1.4M	10x	as long as short
Aster QQQUSDT	+0.0008%	8h	742.00	−0.045%	$840K	$780K	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	742.17	−0.022%	$7.8M	$21.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.59	+0.034%	$37.7M	$81.1M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.51	−0.111%	$737K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.87	+0.072%	—	$621K	50x	as long as short
Variational Omni QQQ	+0.0064%	8h	742.23	−0.014%	$17.2M	$10.1M	—	as long as short
Bybit QQQUSDT	+0.0086%	8h	742.24	−0.013%	$10.7M	$5.4M	50x	as long as short
Binance QQQUSDT	+0.0087%	8h	742.20	−0.018%	$69.6M	$162.8M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0088%	1h	741.80	−0.072%	$1.2M	$873K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.76	−0.077%	$3.4M	$441K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.87	−0.063%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.19	−0.154%	$7K	$16K	20x	as long as short
edgeX QQQUSDC	+0.0103%	4h	742.22	−0.015%	$759K	$336K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.64	−0.093%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0163%	1h	741.92	−0.056%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0187%	8h	742.41	+0.010%	$323K	$1.7M	10x	as long as short
Bitget QQQUSDT	+0.0220%	8h	742.34	+0.001%	$16.7M	$7.3M	20x	as long as short
Phoenix QQQ	+0.0259%	1h	741.88	−0.061%	$38K	$73K	20x	as long as short
RISEx QQQ/USDC	+0.0315%	1h	742.49	+0.021%	$5.4M	$9.3M	25x	as long as short