Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.011%

Price spread now: OKX against Lighter RH−0.057%7-day average +0.010% · 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−$19as in the Price arb table

costs, in and out, $10k−$120.121% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 7 days−0.008%−$1 · spread now −0.057%, 7d avg +0.010%

Together, before fees−0.094%+ Points / potential airdropLighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.066% cheaper against Lighter RH than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.010%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH QQQ	742.83	0.0032	pay 0.0004% / 1h	24m 02s	$37.7M	$81.4M	50x
Short	OKX QQQ-USDT-SWAP	742.41	0	get 0.0000% / 8h	1h 24m	$21.5M	$28.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$6.72
Price spread: −0.057% → +0.010%: −$6.64
Slippage, 4 orders: −$2.11
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$25.47
Costs to cover: 0.121%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	0.20 bp	0.9 bp −$1	1.3 bp −$13	6.1 bp −$611	doesn't fit
Sell OKX live order book, 5 min ago	0.07 bp	5.1 bp −$5	5.3 bp −$53	11.9 bp −$1,186	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 −0.0071% / S +0.0182%	1h	742.58	−0.034%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0035%	1h	741.60	−0.166%	$4.2M	$2.1M	20x	as long as short
BloFin QQQ-USDT	−0.0004%	8h	742.22	−0.082%	$1.0M	$482K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.46	−0.050%	$840K	$780K	20x	as long as short
OKX QQQ-USDT-SWAPshort	0.0000%	8h	742.41	−0.057%	$21.5M	$28.1M	50x
Gate QQQ_USDT	0.0000%	8h	742.07	−0.102%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.06	+0.031%	$2K	$2.4M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	742.23	−0.081%	$424K	$229K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.90	+0.009%	$257K	$32K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.97	+0.019%	$362K	$1.4M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH QQQlong	+0.0032%	1h	742.83	long leg	$37.7M	$81.4M	50x
Lighter QQQ	+0.0040%	1h	742.47	−0.048%	$7.8M	$21.5M	30x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.89	−0.127%	$737K	$1.4M	25x	as long as short
Variational Omni QQQ	+0.0044%	8h	742.56	−0.036%	$17.2M	$10.0M	—	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.14	+0.042%	—	$621K	50x	as long as short
Binance QQQUSDT	+0.0072%	8h	742.58	−0.034%	$69.6M	$160.9M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0088%	1h	742.20	−0.085%	$1.2M	$870K	20x	as long as short
Bybit QQQUSDT	+0.0091%	8h	742.72	−0.015%	$10.7M	$5.3M	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.21	−0.083%	$3.4M	$434K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.39	−0.059%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.10	−0.233%	$10K	$19K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.93	−0.121%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0154%	1h	742.30	−0.071%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0173%	8h	742.85	+0.002%	$321K	$1.8M	10x	as long as short
Bitget QQQUSDT	+0.0202%	8h	742.63	−0.027%	$16.8M	$7.1M	20x	as long as short
Phoenix QQQ	+0.0259%	1h	742.12	−0.096%	$38K	$73K	20x	as long as short
RISEx QQQ/USDC	+0.0315%	1h	742.77	−0.008%	$5.3M	$9.0M	25x	as long as short
edgeX QQQUSDC	+0.0973%	4h	742.52	−0.042%	$759K	$334K	20x	as long as short