Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.008%

Price spread now: Nado against Orderly−0.009%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_QQQ_USDC_mythos	741.40	0.0100	pay 0.0100% / 8h	51m 08s	$12K	$21K	20x
Short	Nado QQQ-PERP	741.34	0.0110	get 0.0014% / 1h	51m 08s	$1.6M	$760K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Orderly. 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 OrderlybpFee NadobpOrdersPrice spread, now −0.009%Rate

Funding earned: $2.07
Price spread: −0.009% → 0.000%: −$0.86
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$11.79
Costs to cover: 0.130%
Break-even: 46.9 days

Slippage unknown: Orderly: no order-book sample; Nado: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell Nado live order book, 2 min ago	0.07 bp	4.8 bp −$5	7.5 bp −$75	85.1 bp −$8,510	doesn't fit

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 −0.0168% / S +0.0258%	1h	741.67	+0.037%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0135%	1h	740.39	−0.136%	$4.2M	$1.8M	20x	as long as short
Gate QQQ_USDT	−0.0067%	8h	741.25	−0.020%	$3.3M	$21.6M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.71	+0.042%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.68	+0.038%	$10.5M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.48	+0.011%	$21.4M	$28.2M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.45	+0.007%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.02	+0.084%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.69	+0.039%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.47	+0.144%	$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	741.94	+0.073%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.11	+0.096%	$362K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0004%	8h	741.76	+0.049%	$70.0M	$143.0M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.12	−0.038%	$1.2M	$486K	20x	as long as short
BloFin QQQ-USDT	+0.0026%	8h	741.47	+0.009%	$1.1M	$270K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.51	+0.015%	$7.7M	$15.2M	30x	as long as short
Lighter RH QQQ	+0.0040%	1h	741.93	+0.071%	$37.2M	$79.7M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.99	−0.055%	$674K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.66	+0.170%	—	$337K	50x	as long as short
edgeX QQQUSDC	+0.0088%	4h	741.64	+0.033%	$758K	$335K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.31	−0.012%	$3.4M	$355K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.21	−0.026%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythoslong	+0.0100%	8h	741.40	long leg	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	740.89	−0.069%	$92K	$1K	10x	as long as short
Nado QQQ-PERPshort	+0.0110%	1h	741.34	−0.009%	$1.6M	$760K	20x
GRVT QQQ_USDT_Perp	+0.0121%	8h	741.93	+0.071%	$325K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0168%	1h	741.52	+0.016%	$424K	$155K	20x	as long as short
Phoenix QQQ	+0.0227%	1h	741.27	−0.018%	$38K	$65K	20x	as long as short