Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0535%/8h= +58.6% APRpaid last 24h +0.053%

Price spread now: edgeX against Lighter RH−0.026%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on Lighter RH Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.026%, 7d avg +0.002%

Together, before fees+0.014%+ Points / potential airdropLighter RH: Points live · edgeX: Active · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.028% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.002%). If the spread goes back, that is −$3 on $10k: about 4 hours of funding at the current rate (+$16 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH QQQ	743.30	0.0032	pay 0.0004% / 1h	5m 28s	$37.0M	$81.0M	50x
Short	edgeX QQQUSDC	743.11	0.0567	get 0.0284% / 4h	2h 05m	$760K	$335K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter RH. 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 Lighter RHbpFee edgeXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $112.41
Price spread: −0.026% → +0.002%: −$2.82
Slippage, 4 orders: −$9.88
Fee Lighter RH: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $90.71
Costs to cover: 0.189%
Break-even: 1.4 days

Slippage from Lighter RH: live order book, 4 min ago; edgeX: live order book, 43 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 RH live order book, 4 min ago	0.47 bp	1.1 bp −$1	2.0 bp −$20	10.0 bp −$1,004	doesn't fit
Sell edgeX live order book, 43 min ago	4.11 bp	8.7 bp −$9	9.7 bp −$97	doesn't fit	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 −0.0153% / S +0.0246%	1h	743.11	−0.026%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0028%	8h	742.84	−0.062%	$1.1M	$278K	20x	as long as short
Ondo Perps QQQ-USD.P	−0.0008%	1h	741.84	−0.196%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.72	−0.078%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	743.09	−0.028%	$70.3M	$145.1M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	743.14	−0.022%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.92	−0.051%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	743.00	−0.040%	$5.4M	$6.6M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.40	−0.121%	$3.3M	$21.4M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.22	−0.011%	$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	742.98	−0.042%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	743.58	+0.038%	$2K	$1.8M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.77	−0.071%	$1.2M	$541K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.39	+0.012%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.19	−0.015%	$360K	$1.6M	10x	as long as short
Lighter QQQ	+0.0032%	1h	742.95	−0.047%	$7.6M	$15.8M	30x	as long as short
Lighter RH QQQlong	+0.0032%	1h	743.30	long leg	$37.0M	$81.0M	50x
Arcus QQQ-USD	+0.0040%	1h	742.18	−0.151%	$689K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.00	+0.094%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0097%	8h	743.30	0.000%	$315K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.69	−0.082%	$3.4M	$365K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.73	−0.077%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.79	−0.069%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.35	−0.128%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0122%	1h	742.66	−0.086%	$1.5M	$750K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	742.79	−0.069%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0289%	1h	742.97	−0.044%	$424K	$152K	20x	as long as short
edgeX QQQUSDCshort	+0.0567%	4h	743.11	−0.026%	$760K	$335K	20x