Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.026%

Price spread now: Binance against Phemex−0.011%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$680.682% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now −0.011%, 7d avg −0.041%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.030% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex QQQUSDT	742.44	0	get 0.0000% / 8h	2h 30m	$362K	$1.6M	10x
Short	Binance QQQUSDT	742.36	0	get 0.0000% / 8h	2h 30m	$69.9M	$143.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.041%: $3.01
Slippage, 4 orders: −$46.23
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$65.22
Costs to cover: 0.682%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Binance: live order book, 13 min ago.

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	1.35 bp	30.8 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.07 bp	5.1 bp −$5	5.1 bp −$51	9.2 bp −$925	24.0 bp −$12.0K

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 −0.0148% / S +0.0242%	1h	742.29	−0.020%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	742.31	−0.017%	$823K	$857K	20x	as long as short
Binance QQQUSDTshort	0.0000%	8h	742.36	−0.011%	$69.9M	$143.7M	25x
Bybit QQQUSDT	0.0000%	8h	742.25	−0.026%	$10.6M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.04	−0.054%	$21.6M	$28.0M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.20	−0.032%	$5.4M	$7.0M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.57	−0.117%	$3.3M	$21.3M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.36	−0.011%	$16.6M	$5.7M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.96	−0.065%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.77	+0.044%	$2K	$1.9M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International QQQ-PERP-INTX	0.0000%	1h	741.67	−0.104%	$1.2M	$538K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.30	−0.019%	$251K	$41K	30x	as long as short
Phemex QQQUSDTlong	0.0000%	8h	742.44	long leg	$362K	$1.6M	10x
BloFin QQQ-USDT	+0.0012%	8h	741.96	−0.065%	$1.1M	$267K	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.18	−0.035%	$7.7M	$15.6M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.56	+0.016%	$36.8M	$79.6M	50x	as long as short
Ondo Perps QQQ-USD.P	+0.0034%	1h	741.10	−0.180%	$4.2M	$1.8M	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.15	−0.174%	$693K	$1.6M	25x	as long as short
edgeX QQQUSDC	+0.0042%	4h	742.04	−0.054%	$759K	$336K	20x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.20	+0.102%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0081%	8h	742.17	−0.037%	$320K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.88	−0.075%	$3.4M	$355K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.66	−0.105%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.98	−0.062%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.51	−0.125%	$92K	$1K	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0114%	1h	742.04	−0.054%	$424K	$152K	20x	as long as short
Nado QQQ-PERP	+0.0128%	1h	741.78	−0.089%	$1.5M	$765K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	741.63	−0.109%	$38K	$66K	20x	as long as short