Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0261%/8h= −28.5% APRpaid last 24h −0.038%

Price spread now: GMX against OKX+0.038%7-day average — · you sell dearer than you buy

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. GMX is 0.038% dearer against OKX than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX QQQ-USDT-SWAP	741.67	0	get 0.0000% / 8h	36m 14s	$21.4M	$28.4M	50x
Short	GMX QQQ/USD [ETH-USDC]	741.96	L −0.0171% / S +0.0261%	pay 0.0033% / 1h	36m 14s	$25K	—	26x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$54.72
Price spread: +0.038% → 0.000%: $3.84
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$72.88
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 2 min ago; GMX: 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 OKX live order book, 2 min ago	0.07 bp	5.1 bp −$5	5.9 bp −$59	13.9 bp −$1,387	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Ondo Perps QQQ-USD.P	−0.0178%	1h	740.56	−0.150%	$4.2M	$1.8M	20x	as long as short
GMX QQQ/USD [ETH-USDC]short	L −0.0171% / S +0.0261%	1h	741.96	+0.038%	$25K	—	26x
Gate QQQ_USDT	−0.0074%	8h	741.41	−0.035%	$3.3M	$21.6M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.86	+0.026%	$821K	$861K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.99	+0.043%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAPlong	0.0000%	8h	741.67	long leg	$21.4M	$28.4M	50x
RISEx QQQ/USDC	0.0000%	1h	741.68	+0.001%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.99	+0.043%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	742.02	+0.047%	$16.8M	$7.2M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.63	+0.129%	$2K	$1.8M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDT	0.0000%	8h	742.02	+0.047%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.04	+0.050%	$359K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0010%	8h	741.88	+0.028%	$70.1M	$142.2M	25x	as long as short
edgeX QQQUSDC	+0.0011%	4h	741.80	+0.017%	$758K	$335K	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.51	−0.022%	$1.2M	$491K	20x	as long as short
BloFin QQQ-USDT	+0.0018%	8h	741.67	0.000%	$1.1M	$274K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.58	−0.012%	$7.7M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.00	+0.044%	$37.3M	$80.1M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.28	−0.053%	$644K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.80	+0.152%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.48	−0.026%	$3.4M	$360K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.61	−0.008%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.57	−0.013%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.13	−0.073%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0117%	1h	741.41	−0.035%	$1.6M	$761K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0127%	8h	741.96	+0.039%	$325K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0182%	1h	741.61	−0.008%	$424K	$156K	20x	as long as short
Phoenix QQQ	+0.0227%	1h	741.67	0.000%	$38K	$65K	20x	as long as short