Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.041%

Price spread now: Bybit against Nado+0.071%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$240.245% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.027%−$3 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.071%, 7d avg +0.035%

Together, before fees−0.078%+ Points / potential airdropNado: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.036% dearer against Nado than usual: you sell high and buy low (spread +0.071% now, against its 7-day average of +0.035%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 3 days (−0.027% in total) that is about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado QQQ-PERP	742.94	0.0175	pay 0.0022% / 1h	21m 50s	$1.5M	$1.3M	20x
Short	Bybit QQQUSDT	743.47	0.0102	get 0.0102% / 8h	21m 50s	$10.7M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$15.34
Price spread: +0.071% → +0.035%: $3.59
Slippage, 4 orders: −$6.48
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.23
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from Nado: live order book, 2 min ago; Bybit: live order book, 1 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 Nado live order book, 2 min ago	0.07 bp	4.9 bp −$5	8.0 bp −$80	51.5 bp −$5,150	doesn't fit
Sell Bybit live order book, 1 min ago	0.07 bp	7.3 bp −$7	9.6 bp −$96	39.3 bp −$3,930	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 −0.0075% / S +0.0185%	1h	743.48	+0.072%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0023%	8h	743.09	+0.020%	$1.1M	$469K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.36	+0.056%	$845K	$783K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.25	+0.041%	$21.6M	$27.8M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.08	+0.019%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.91	+0.130%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.13	+0.025%	$257K	$25K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.03	+0.146%	$362K	$1.4M	10x	as long as short
Ondo Perps QQQ-USD.P	+0.0007%	1h	742.05	−0.120%	$4.2M	$2.1M	20x	as long as short
Lighter RH QQQ	+0.0040%	1h	743.66	+0.097%	$37.5M	$80.2M	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus QQQ-USD	+0.0040%	1h	742.72	−0.030%	$694K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.95	+0.136%	—	$621K	50x	as long as short
Variational Omni QQQ	+0.0047%	8h	743.33	+0.052%	$17.6M	$10.3M	—	as long as short
Lighter QQQ	+0.0072%	1h	743.32	+0.051%	$7.6M	$20.9M	30x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0072%	1h	742.85	−0.012%	$1.2M	$865K	20x	as long as short
Binance QQQUSDT	+0.0076%	8h	743.45	+0.068%	$71.0M	$160.7M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.97	+0.004%	$3.4M	$417K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.98	+0.005%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.16	+0.029%	$12K	$21K	20x	as long as short
Bybit QQQUSDTshort	+0.0102%	8h	743.47	+0.071%	$10.7M	$5.2M	50x
Aevo QQQ-PERP	+0.0104%	1h	742.74	−0.027%	$92K	$1K	10x	as long as short
Nado QQQ-PERPlong	+0.0175%	1h	742.94	long leg	$1.5M	$1.3M	20x
Bitget QQQUSDT	+0.0184%	8h	743.48	+0.072%	$16.9M	$7.0M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0190%	8h	743.51	+0.076%	$323K	$1.8M	10x	as long as short
RISEx QQQ/USDC	+0.0193%	1h	743.55	+0.082%	$5.4M	$8.9M	25x	as long as short
Phoenix QQQ	+0.0194%	1h	742.91	−0.004%	$38K	$73K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0248%	1h	743.29	+0.047%	$425K	$164K	20x	as long as short
edgeX QQQUSDC	+0.0822%	4h	743.37	+0.057%	$760K	$335K	20x	as long as short