Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0114%/8h= +12.5% APRpaid last 24h −0.001%

Price spread now: Gate against GMX−0.048%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 Gate

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. Gate is 0.048% cheaper against GMX than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 33 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX QQQ/USD [ETH-USDC]	744.39	L −0.0114% / S +0.0216%	get 0.0014% / 1h	12m 11s	$25K	—	26x
Short	Gate QQQ_USDT	744.04	0	get 0.0000% / 8h	5h 12m	$3.3M	$21.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.048%Rate

Funding earned: $23.98
Price spread: −0.048% → 0.000%: −$4.77
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$7.78
Costs to cover: 0.270%
Break-even: 9.3 days

Slippage unknown: GMX: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago	1.48 bp	10.2 bp −$10	13.6 bp −$136	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 −0.0114% / S +0.0216%	1h	744.39	long leg	$25K	—	26x
Ondo Perps QQQ-USD.P	−0.0068%	1h	743.44	−0.128%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	744.39	−0.001%	$841K	$714K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.49	+0.013%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.24	−0.021%	$21.5M	$26.9M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.50	+0.014%	$5.4M	$7.5M	25x	as long as short
Gate QQQ_USDTshort	0.0000%	8h	744.04	−0.048%	$3.3M	$21.2M	50x
Bitget QQQUSDT	0.0000%	8h	744.50	+0.014%	$16.9M	$5.7M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.90	+0.068%	$2K	$1.9M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.53	+0.018%	$257K	$29K	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	744.97	+0.077%	$363K	$1.5M	10x	as long as short
Variational Omni QQQ	+0.0026%	8h	744.39	−0.001%	$17.1M	$7.5M	—	as long as short
BloFin QQQ-USDT	+0.0029%	8h	744.33	−0.009%	$1.1M	$293K	20x	as long as short
Lighter QQQ	+0.0032%	1h	744.21	−0.025%	$7.7M	$17.2M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.65	+0.034%	$37.1M	$80.2M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	743.97	−0.057%	$1.2M	$536K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.55	−0.114%	$695K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.39	+0.134%	—	$337K	50x	as long as short
Binance QQQUSDT	+0.0056%	8h	744.40	+0.001%	$71.2M	$143.1M	25x	as long as short
Nado QQQ-PERP	+0.0082%	1h	744.04	−0.048%	$1.5M	$899K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	744.08	−0.042%	$3.4M	$406K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	744.11	−0.038%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.16	−0.032%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.56	−0.112%	$93K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0131%	8h	744.59	+0.026%	$322K	$1.9M	10x	as long as short
Phoenix QQQ	+0.0161%	1h	744.10	−0.040%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0167%	1h	744.23	−0.022%	$425K	$149K	20x	as long as short
edgeX QQQUSDC	+0.0714%	4h	744.32	−0.010%	$761K	$336K	20x	as long as short