Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0250%/8h= −27.3% APRpaid last 24h −0.061%

Price spread now: Ondo Perps against Orderly−0.108%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 Ondo Perps

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 airdropOndo Perps: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Ondo Perps is 0.108% cheaper against Orderly than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_QQQ_USDC_mythos	741.81	0.0100	pay 0.0100% / 8h	12m 36s	$12K	$21K	20x
Short	Ondo Perps QQQ-USD.P	741.01	−0.0150	pay 0.0019% / 1h	12m 36s	$4.2M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.108%Rate

Funding earned: −$52.42
Price spread: −0.108% → 0.000%: −$10.78
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$74.2
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Ondo Perps: 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 Orderly no order-book sample	—	—	—	—	—
Sell Ondo Perps no order-book sample	—	—	—	—	—

Orderly and 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
GMX QQQ/USD [ETH-USDC]	L −0.0176% / S +0.0264%	1h	741.87	+0.007%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.Pshort	−0.0150%	1h	741.01	−0.108%	$4.2M	$1.8M	20x
Gate QQQ_USDT	−0.0092%	8h	741.33	−0.065%	$3.3M	$21.7M	50x	as long as short
BloFin QQQ-USDT	−0.0023%	8h	741.73	−0.011%	$1.1M	$274K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.90	+0.013%	$824K	$863K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.90	+0.012%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.73	−0.011%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.71	−0.014%	$5.4M	$5.9M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.03	+0.030%	$16.5M	$5.3M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.75	−0.008%	$16.8M	$7.2M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	742.24	+0.058%	$2K	$1.7M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.05	+0.032%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.37	+0.075%	$361K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.15	−0.089%	$1.2M	$488K	20x	as long as short
Binance QQQUSDT	+0.0023%	8h	741.91	+0.014%	$70.3M	$140.9M	25x	as long as short
edgeX QQQUSDC	+0.0027%	4h	741.76	−0.007%	$758K	$337K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.72	−0.012%	$7.7M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.03	+0.030%	$37.2M	$81.1M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.99	−0.111%	$647K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.90	+0.147%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.49	−0.043%	$3.4M	$351K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.34	−0.063%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythoslong	+0.0100%	8h	741.81	long leg	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	741.31	−0.067%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0138%	1h	741.47	−0.046%	$1.6M	$748K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0143%	8h	741.98	+0.023%	$314K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0168%	1h	741.84	+0.004%	$424K	$156K	20x	as long as short
Phoenix QQQ	+0.0227%	1h	741.64	−0.023%	$38K	$65K	20x	as long as short