Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0131%/8h= +14.3% APRpaid last 24h −0.008%

Price spread now: Bitget against Lighter+0.009%7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$150.155% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days+0.116%+$12 · spread now +0.009%, 7d avg +0.110%

Together, before fees+0.137%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.100% cheaper against Lighter than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.110%). If the spread goes back, that is −$10 on $10k: about 2.6 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.020% in total) that is about 35 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter QQQ	741.84	0.0096	pay 0.0012% / 1h	10m 00s	$7.8M	$21.7M	30x
Short	Bitget QQQUSDT	741.91	0.0227	get 0.0227% / 8h	2h 10m	$16.7M	$7.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter. 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 LighterbpFee BitgetbpOrdersPrice spread, now +0.009%Rate

Funding earned: $27.51
Price spread: +0.009% → +0.110%: −$10.04
Slippage, 4 orders: −$3.45
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: $2.02
Costs to cover: 0.155%
Break-even: 6.5 days

Slippage from Lighter: live order book, 9 min ago; Bitget: live order book, 9 min ago.

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 Lighter live order book, 9 min ago	0.67 bp	0.7 bp −$1	3.0 bp −$30	18.0 bp −$1,798	56.0 bp −$28.0K
Sell Bitget live order book, 9 min ago	0.07 bp	6.8 bp −$7	8.5 bp −$85	11.7 bp −$1,173	doesn't fit

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 −0.0060% / S +0.0173%	1h	741.98	+0.018%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0014%	8h	741.77	−0.009%	$1.0M	$509K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.78	−0.008%	$21.3M	$28.1M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.66	−0.024%	$3.1M	$33.3M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.40	+0.075%	$1K	$2.5M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.18	+0.046%	$256K	$32K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.22	+0.051%	$361K	$1.4M	10x	as long as short
Aster QQQUSDT	+0.0006%	8h	741.87	+0.004%	$840K	$780K	20x	as long as short
Arcus QQQ-USD	+0.0025%	1h	741.19	−0.088%	$735K	$1.5M	25x	as long as short
Ondo Perps QQQ-USD.P	+0.0029%	1h	740.94	−0.121%	$4.2M	$2.2M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest QQQ-USD-PERP	+0.0046%	1h	742.43	+0.080%	—	$621K	50x	as long as short
Variational Omni QQQ	+0.0058%	8h	741.96	+0.017%	$17.2M	$10.6M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	741.44	−0.054%	$1.2M	$894K	20x	as long as short
Bybit QQQUSDT	+0.0071%	8h	742.07	+0.031%	$10.7M	$5.4M	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0074%	1h	741.78	−0.008%	$424K	$304K	20x	as long as short
Phoenix QQQ	+0.0076%	1h	741.52	−0.043%	$38K	$73K	20x	as long as short
Binance QQQUSDT	+0.0088%	8h	741.95	+0.015%	$69.8M	$165.2M	25x	as long as short
Lighter QQQlong	+0.0096%	1h	741.84	long leg	$7.8M	$21.7M	30x
KuCoin QQQUSDTM	+0.0100%	8h	741.47	−0.050%	$3.4M	$449K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.45	−0.053%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.20	−0.086%	$7K	$15K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.30	−0.073%	$92K	$1K	10x	as long as short
Lighter RH QQQ	+0.0112%	1h	742.18	+0.046%	$37.8M	$83.1M	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0179%	8h	742.01	+0.022%	$316K	$1.7M	10x	as long as short
RISEx QQQ/USDC	+0.0212%	1h	742.12	+0.038%	$5.4M	$9.3M	25x	as long as short
Bitget QQQUSDTshort	+0.0227%	8h	741.91	+0.009%	$16.7M	$7.8M	20x
Nado QQQ-PERP	+0.0244%	1h	741.41	−0.059%	$1.5M	$1.3M	20x	as long as short
edgeX QQQUSDC	+0.0266%	4h	741.89	+0.007%	$759K	$338K	20x	as long as short