Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.033%

Price spread now: KuCoin against GMX−0.028%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 KuCoin

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. KuCoin is 0.028% cheaper against GMX than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 9 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX QQQ/USD [ETH-USDC]	742.75	L −0.0140% / S +0.0236%	get 0.0018% / 1h	6m 33s	$25K	—	26x
Short	KuCoin QQQUSDTM	742.54	0.0100	get 0.0100% / 8h	3h 06m	$3.4M	$343K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.028%Rate

Funding earned: $50.42
Price spread: −0.028% → 0.000%: −$2.76
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $23.66
Costs to cover: 0.240%
Break-even: 3.7 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	1.08 bp	18.5 bp −$18	125.1 bp −$1,251	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 −0.0140% / S +0.0236%	1h	742.75	long leg	$25K	—	26x
Ondo Perps QQQ-USD.P	−0.0010%	1h	741.74	−0.135%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0003%	8h	742.86	+0.015%	$1.1M	$246K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.84	+0.013%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.87	+0.017%	$70.1M	$143.7M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	742.78	+0.005%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.72	−0.003%	$21.6M	$27.4M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.21	−0.072%	$3.3M	$21.3M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.96	+0.029%	$16.9M	$5.6M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	742.83	+0.011%	$17.1M	$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	743.23	+0.065%	$2K	$1.9M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	742.43	−0.042%	$424K	$151K	20x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.35	−0.053%	$1.2M	$538K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.01	+0.036%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.10	+0.048%	$360K	$1.6M	10x	as long as short
RISEx QQQ/USDC	+0.0010%	1h	742.93	+0.025%	$5.4M	$7.3M	25x	as long as short
Lighter QQQ	+0.0032%	1h	742.76	+0.002%	$7.7M	$15.9M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.11	+0.049%	$36.9M	$79.5M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.03	−0.096%	$704K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.75	+0.135%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0072%	8h	742.95	+0.028%	$320K	$1.9M	10x	as long as short
KuCoin QQQUSDTMshort	+0.0100%	8h	742.54	−0.028%	$3.4M	$343K	20x
ApeX Omni QQQUSDT	+0.0100%	1h	742.36	−0.052%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.49	−0.034%	$12K	$21K	20x	as long as short
Nado QQQ-PERP	+0.0102%	1h	742.40	−0.046%	$1.5M	$763K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.99	−0.102%	$92K	$1K	10x	as long as short
Phoenix QQQ	+0.0118%	1h	742.42	−0.044%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0178%	4h	742.80	+0.007%	$759K	$334K	20x	as long as short