Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h −0.054%

Price spread now: Phoenix against GRVT−0.094%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.094% cheaper against GRVT than usual: you would sell low and buy high (spread −0.094% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 10 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.075%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT QQQ_USDT_Perp	743.09	0.0098	pay 0.0098% / 8h	1h 56m	$322K	$2.0M	10x
Short	Phoenix QQQ	742.39	0.0129	get 0.0016% / 1h	56m 22s	$38K	$66K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against GRVT. 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 GRVTbpFee PhoenixbpOrdersPrice spread, now −0.094%Rate

Funding earned: $6.58
Price spread: −0.094% → 0.000%: −$9.44
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$18.86
Costs to cover: 0.160%
Break-even: 27.1 days

Slippage unknown: GRVT: live order book, 2 min ago; Phoenix: no order-book sample. 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 GRVT live order book, 2 min ago	0.40 bp	4.9 bp −$5	5.8 bp −$58	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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]	L −0.0155% / S +0.0248%	1h	742.37	−0.098%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0030%	1h	741.60	−0.201%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0009%	8h	742.32	−0.104%	$1.1M	$278K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.26	−0.112%	$823K	$858K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.34	−0.101%	$70.1M	$145.5M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	742.38	−0.096%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.22	−0.117%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.28	−0.109%	$5.4M	$6.4M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.82	−0.171%	$3.3M	$21.4M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.65	−0.059%	$16.6M	$5.6M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QQQ	0.0000%	8h	742.82	−0.037%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	743.02	−0.010%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.93	−0.022%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.52	−0.077%	$362K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.91	−0.159%	$1.2M	$541K	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.25	−0.113%	$7.6M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0040%	1h	742.62	−0.063%	$36.9M	$79.4M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.74	−0.182%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.29	+0.027%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perplong	+0.0098%	8h	743.09	long leg	$322K	$2.0M	10x
KuCoin QQQUSDTM	+0.0100%	8h	741.94	−0.155%	$3.4M	$354K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.46	−0.085%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.04	−0.142%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.59	−0.203%	$92K	$1K	10x	as long as short
Phoenix QQQshort	+0.0129%	1h	742.39	−0.094%	$38K	$66K	20x
Nado QQQ-PERP	+0.0154%	1h	741.99	−0.148%	$1.5M	$748K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0195%	1h	742.10	−0.133%	$424K	$153K	20x	as long as short
edgeX QQQUSDC	+0.0696%	4h	742.69	−0.054%	$759K	$333K	20x	as long as short