Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h −0.004%

Price spread now: SunX against GMX+0.058%7-day average — · you sell dearer than you buy

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

Long on GMX Short on SunX

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SunX is 0.058% dearer against GMX than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX QQQ/USD [ETH-USDC]	743.62	L −0.0076% / S +0.0186%	get 0.0009% / 1h	16m 57s	$25K	—	26x
Short	SunX QQQ-USDT	744.05	0	get 0.0000% / 8h	16m 57s	$2K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.058%Rate

Funding earned: $15.94
Price spread: +0.058% → 0.000%: $5.85
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: $1.79
Costs to cover: 0.200%
Break-even: 6.2 days

Slippage unknown: GMX: no order-book sample; SunX: live order book, 9 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 SunX live order book, 9 min ago	21.64 bp	38.1 bp −$38	doesn't fit	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 −0.0076% / S +0.0186%	1h	743.62	long leg	$25K	—	26x
Ondo Perps QQQ-USD.P	−0.0026%	1h	742.12	−0.201%	$4.2M	$2.1M	20x	as long as short
BloFin QQQ-USDT	−0.0021%	8h	743.09	−0.071%	$1.1M	$320K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.36	−0.034%	$845K	$783K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.44	−0.024%	$21.6M	$27.5M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.33	−0.038%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDTshort	0.0000%	8h	744.05	+0.058%	$2K	$2.3M	10x
HTX QQQ-USDT	0.0000%	8h	743.15	−0.063%	$257K	$25K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.94	+0.044%	$362K	$1.4M	10x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.77	+0.021%	$37.5M	$80.5M	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus QQQ-USD	+0.0040%	1h	742.83	−0.106%	$694K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.07	+0.061%	—	$621K	50x	as long as short
Variational Omni QQQ	+0.0046%	8h	743.32	−0.039%	$17.6M	$10.3M	—	as long as short
Lighter QQQ	+0.0064%	1h	743.46	−0.021%	$7.6M	$20.9M	30x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0072%	1h	742.85	−0.103%	$1.2M	$865K	20x	as long as short
Binance QQQUSDT	+0.0076%	8h	743.57	−0.006%	$71.1M	$160.6M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.13	−0.065%	$3.4M	$416K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.07	−0.073%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.29	−0.044%	$12K	$21K	20x	as long as short
Bybit QQQUSDT	+0.0101%	8h	743.62	+0.001%	$10.7M	$5.2M	50x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.89	−0.098%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0172%	1h	743.15	−0.062%	$1.5M	$1.3M	20x	as long as short
Bitget QQQUSDT	+0.0182%	8h	743.57	−0.006%	$16.9M	$7.0M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0191%	8h	743.65	+0.005%	$323K	$1.8M	10x	as long as short
RISEx QQQ/USDC	+0.0193%	1h	743.73	+0.015%	$5.4M	$8.9M	25x	as long as short
Phoenix QQQ	+0.0194%	1h	743.09	−0.071%	$38K	$73K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0208%	1h	743.41	−0.028%	$425K	$164K	20x	as long as short
edgeX QQQUSDC	+0.0658%	4h	743.31	−0.040%	$760K	$337K	20x	as long as short