Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0956%/8h= +104.7% APRpaid last 24h +0.065%

Price spread now: edgeX against Phemex−0.093%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$830.828% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.093%, 7d avg −0.052%

Together, before fees+0.121%+ Points / potential airdropedgeX: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.041% cheaper against Phemex than usual: you would sell low and buy high (spread −0.093% now, against its 7-day average of −0.052%). If the spread goes back, that is −$4 on $10k: about 3 hours of funding at the current rate (+$29 a day). At the pace of the last 7 days (+0.097% in total) that is about 3.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.097% in total (about 5.0% 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	Phemex QQQUSDT	742.33	0	get 0.0000% / 8h	1h 28m	$363K	$1.6M	10x
Short	edgeX QQQUSDC	741.64	0.0956	get 0.0478% / 4h	1h 28m	$758K	$336K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.093%Rate

Funding earned: $200.79
Price spread: −0.093% → −0.052%: −$4.12
Slippage, 4 orders: −$61.79
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $113.88
Costs to cover: 0.828%
Break-even: 3.0 days

Slippage from Phemex: live order book, 5 min ago; edgeX: live order book, 15 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, 5 min ago	2.09 bp	36.1 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 15 min ago	4.11 bp	8.6 bp −$9	9.7 bp −$97	doesn't fit	doesn't fit

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 −0.0160% / S +0.0252%	1h	741.82	−0.069%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0022%	8h	741.36	−0.131%	$3.3M	$21.5M	50x	as long as short
BloFin QQQ-USDT	−0.0009%	8h	741.84	−0.066%	$1.1M	$278K	20x	as long as short
Ondo Perps QQQ-USD.P	−0.0001%	1h	740.66	−0.225%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.03	−0.040%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	742.05	−0.038%	$10.5M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.81	−0.070%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.84	−0.066%	$5.5M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.26	−0.009%	$16.6M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.69	−0.087%	$16.9M	$7.3M	—	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	742.73	+0.054%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.56	+0.031%	$251K	$41K	30x	as long as short
Phemex QQQUSDTlong	0.0000%	8h	742.33	long leg	$363K	$1.6M	10x
Binance QQQUSDT	+0.0003%	8h	742.07	−0.035%	$70.1M	$144.5M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.36	−0.131%	$1.2M	$547K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.88	−0.061%	$7.7M	$15.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.28	−0.007%	$37.0M	$80.5M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.05	−0.172%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.94	+0.082%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.61	−0.097%	$3.4M	$353K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.39	−0.127%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.77	−0.075%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.33	−0.135%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0115%	8h	741.97	−0.048%	$322K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0134%	1h	741.49	−0.113%	$1.5M	$764K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0141%	1h	741.80	−0.071%	$424K	$154K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.41	−0.124%	$38K	$66K	20x	as long as short
edgeX QQQUSDCshort	+0.0956%	4h	741.64	−0.093%	$758K	$336K	20x