Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against Phemex−0.128%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.175%+$18 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.128% cheaper against Phemex than usual: you would sell low and buy high (spread −0.128% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 4.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex QQQUSDT	743.48	0	get 0.0000% / 8h	5h 07m	$360K	$1.7M	10x
Short	Aevo QQQ-PERP	742.53	0.0104	get 0.0013% / 1h	7m 55s	$92K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.128%Rate

Funding earned: $21.84
Price spread: −0.128% → 0.000%: −$12.83
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$18.99
Costs to cover: 0.280%
Break-even: 13.1 days

Slippage unknown: Phemex: live order book, 3 min ago; Aevo: 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 Phemex live order book, 3 min ago	2.69 bp	34.9 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 exchanges

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 −0.0203% / S +0.0285%	1h	743.14	−0.045%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0137%	1h	741.57	−0.257%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0003%	8h	743.10	−0.051%	$1.1M	$240K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.32	−0.021%	$857K	$903K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.14	−0.046%	$22.1M	$30.9M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	743.02	−0.063%	$5.5M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.72	−0.102%	$3.5M	$20.0M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.47	−0.001%	$17.1M	$5.9M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.85	+0.050%	$2K	$1.5M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.62	+0.019%	$247K	$45K	30x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDTlong	0.0000%	8h	743.48	long leg	$360K	$1.7M	10x
Lighter QQQ	+0.0032%	1h	742.77	−0.095%	$7.3M	$16.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.38	−0.013%	$38.8M	$78.3M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	742.34	−0.153%	$1.2M	$541K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.17	−0.176%	$659K	$1.4M	25x	as long as short
Bybit QQQUSDT	+0.0045%	8h	743.21	−0.036%	$10.6M	$4.9M	50x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.11	+0.085%	—	$337K	50x	as long as short
Variational Omni QQQ	+0.0069%	8h	742.99	−0.067%	$16.8M	$7.0M	—	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0073%	1h	742.84	−0.086%	$399K	$103K	20x	as long as short
Binance QQQUSDT	+0.0091%	8h	743.35	−0.017%	$72.3M	$146.4M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.80	−0.091%	$3.4M	$496K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.31	−0.157%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.91	−0.077%	$12K	$21K	20x	as long as short
Aevo QQQ-PERPshort	+0.0104%	1h	742.53	−0.128%	$92K	$1K	10x
Nado QQQ-PERP	+0.0124%	1h	742.84	−0.086%	$1.6M	$773K	20x	as long as short
edgeX QQQUSDC	+0.0172%	4h	742.81	−0.090%	$759K	$334K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0252%	8h	743.28	−0.027%	$318K	$2.1M	10x	as long as short
Phoenix QQQ	+0.0302%	1h	742.48	−0.135%	$38K	$59K	20x	as long as short