Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0270%/8h= +29.6% APRpaid last 24h +0.025%

Price spread now: Bybit against GMX−0.020%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 Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX QQQ/USD [ETH-USDC]	742.11	L −0.0192% / S +0.0277%	get 0.0024% / 1h	55m 38s	$25K	—	26x
Short	Bybit QQQUSDT	741.96	0.0078	get 0.0078% / 8h	6h 55m	$10.6M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.020%Rate

Funding earned: $56.71
Price spread: −0.020% → 0.000%: −$1.95
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $31.75
Costs to cover: 0.230%
Break-even: 3.1 days

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.07 bp	8.0 bp −$8	12.3 bp −$123	doesn't fit	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 −0.0192% / S +0.0277%	1h	742.11	long leg	$25K	—	26x
Ondo Perps QQQ-USD.P	−0.0062%	1h	740.71	−0.188%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0007%	8h	741.88	−0.030%	$1.1M	$281K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.89	−0.028%	$857K	$902K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.59	−0.069%	$21.6M	$30.1M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.00	−0.014%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.45	−0.088%	$3.5M	$19.7M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.84	−0.036%	$16.6M	$5.3M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.62	+0.069%	$2K	$1.6M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.48	+0.051%	$251K	$38K	30x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDT	0.0000%	8h	742.39	+0.038%	$362K	$1.6M	10x	as long as short
Variational Omni QQQ	+0.0029%	8h	741.96	−0.019%	$16.8M	$7.3M	—	as long as short
Lighter QQQ	+0.0032%	1h	741.45	−0.088%	$7.6M	$14.7M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.85	−0.034%	$38.3M	$76.8M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	741.63	−0.064%	$1.2M	$512K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.93	−0.158%	$647K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.98	+0.118%	—	$337K	50x	as long as short
Binance QQQUSDT	+0.0055%	8h	741.77	−0.045%	$70.9M	$141.9M	25x	as long as short
Bybit QQQUSDTshort	+0.0078%	8h	741.96	−0.020%	$10.6M	$5.0M	50x
KuCoin QQQUSDTM	+0.0100%	8h	741.45	−0.088%	$3.4M	$414K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.48	−0.084%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.86	−0.033%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.26	−0.114%	$92K	$1K	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0128%	1h	741.75	−0.048%	$424K	$125K	20x	as long as short
Nado QQQ-PERP	+0.0144%	1h	741.70	−0.054%	$1.6M	$745K	20x	as long as short
Phoenix QQQ	+0.0248%	1h	741.73	−0.051%	$38K	$59K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0282%	8h	742.11	+0.001%	$315K	$2.0M	10x	as long as short
edgeX QQQUSDC	+0.0446%	4h	742.01	−0.013%	$759K	$334K	20x	as long as short