Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0358%/8h= +39.2% APRpaid last 24h +0.047%

Price spread now: SunX against Ondo Perps+0.276%7-day average +0.244% · you sell dearer than you buy

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

Long on Ondo Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.247%+$25 on $10k

Price spread, last 3 days (all we have)−0.049%−$5 · spread now +0.276%, 7d avg +0.244%

Together, before fees+0.198%+ Points / potential airdropOndo Perps: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and SunX is 0.032% dearer against Ondo Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.244%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.247% in total (about 12.9% 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	Ondo Perps QQQ-USD.P	742.38	−0.0358	get 0.0045% / 1h	52m 42s	$4.2M	$2.0M	20x
Short	SunX QQQ-USDT	744.43	0	get 0.0000% / 8h	7h 52m	$2K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Ondo Perps. 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 Ondo PerpsbpFee SunXbpOrdersPrice spread, now +0.276%Rate

Funding earned: $75.26
Price spread: +0.276% → +0.244%: $3.19
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: $65.46
Costs to cover: 0.130%
Break-even: 0.9 days

Slippage unknown: Ondo Perps: no order-book sample; SunX: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell SunX live order book, 4 min ago	21.63 bp	38.1 bp −$38	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: 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.Plong	−0.0358%	1h	742.38	long leg	$4.2M	$2.0M	20x
GMX QQQ/USD [ETH-USDC]	L −0.0081% / S +0.0190%	1h	743.97	+0.214%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0022%	8h	743.81	+0.193%	$1.0M	$318K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.54	+0.156%	$841K	$757K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.81	+0.193%	$21.5M	$25.4M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.55	+0.158%	$3.1M	$26.2M	50x	as long as short
SunX QQQ-USDTshort	0.0000%	8h	744.43	+0.276%	$2K	$2.3M	10x
HTX QQQ-USDT	0.0000%	8h	743.14	+0.102%	$257K	$28K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.36	+0.267%	$362K	$1.4M	10x	as long as short
Bybit QQQUSDT	+0.0018%	8h	744.04	+0.224%	$10.7M	$4.8M	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QQQ	+0.0032%	1h	743.77	+0.187%	$7.6M	$18.1M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.08	+0.229%	$37.4M	$78.6M	50x	as long as short
Variational Omni QQQ	+0.0040%	8h	743.83	+0.196%	$17.1M	$10.8M	—	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.08	+0.094%	$746K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.49	+0.284%	—	$388K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	743.51	+0.152%	$1.2M	$624K	20x	as long as short
Binance QQQUSDT	+0.0068%	8h	743.96	+0.213%	$71.0M	$155.8M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.57	+0.160%	$3.4M	$413K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.44	+0.143%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.64	+0.170%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.28	+0.121%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0112%	1h	743.55	+0.158%	$1.5M	$1.2M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0116%	8h	743.95	+0.211%	$316K	$1.8M	10x	as long as short
Bitget QQQUSDT	+0.0171%	8h	744.00	+0.218%	$16.9M	$6.6M	20x	as long as short
RISEx QQQ/USDC	+0.0208%	1h	743.94	+0.210%	$5.6M	$9.0M	25x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0221%	1h	743.75	+0.185%	$425K	$147K	20x	as long as short
Phoenix QQQ	+0.0258%	1h	743.43	+0.141%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0662%	4h	743.73	+0.182%	$760K	$335K	20x	as long as short