Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.018%

Price spread now: Orderly against Lighter RH−0.055%7-day average — · you buy dearer than you sell

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

Long on Lighter RH Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.055% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.055% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH QQQ	742.09	0.0032	pay 0.0004% / 1h	24m 48s	$37.0M	$80.6M	50x
Short	Orderly PERP_QQQ_USDC_mythos	741.68	0.0100	get 0.0100% / 8h	1h 24m	$12K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.055%Rate

Funding earned: $14.28
Price spread: −0.055% → 0.000%: −$5.52
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $2.76
Costs to cover: 0.060%
Break-even: 5.6 days

Slippage unknown: Lighter RH: live order book, 4 min ago; Orderly: 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 Lighter RH live order book, 4 min ago	0.27 bp	0.5 bp −$1	1.2 bp −$12	9.4 bp −$944	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.0161% / S +0.0252%	1h	742.09	−0.001%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0027%	8h	741.27	−0.110%	$3.3M	$21.5M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.89	−0.028%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.88	−0.028%	$10.5M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.76	−0.044%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.76	−0.045%	$5.5M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.01	−0.011%	$16.6M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.98	−0.015%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.83	+0.100%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.14	+0.007%	$251K	$41K	30x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDT	0.0000%	8h	742.15	+0.008%	$365K	$1.6M	10x	as long as short
Ondo Perps QQQ-USD.P	+0.0002%	1h	741.10	−0.133%	$4.2M	$1.8M	20x	as long as short
Binance QQQUSDT	+0.0003%	8h	741.90	−0.026%	$70.0M	$144.6M	25x	as long as short
BloFin QQQ-USDT	+0.0004%	8h	741.75	−0.046%	$1.1M	$271K	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.55	−0.073%	$1.2M	$550K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.72	−0.050%	$7.7M	$15.5M	30x	as long as short
Lighter RH QQQlong	+0.0032%	1h	742.09	long leg	$37.0M	$80.6M	50x
Arcus QQQ-USD	+0.0040%	1h	741.16	−0.125%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.94	+0.115%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.47	−0.084%	$3.4M	$353K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.57	−0.070%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	741.68	−0.055%	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	741.20	−0.120%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0116%	8h	742.17	+0.011%	$322K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0132%	1h	741.66	−0.058%	$1.5M	$764K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0141%	1h	741.68	−0.055%	$424K	$154K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.63	−0.062%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0573%	4h	741.92	−0.023%	$759K	$334K	20x	as long as short