Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Phemex−0.105%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$830.825% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 3 days (all we have)+0.014%+$1 · spread now −0.105%, 7d avg −0.069%

Together, before fees+0.003%$0 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: Gate is 0.036% cheaper against Phemex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex QQQUSDT	742.81	0	get 0.0000% / 8h	1h 16m	$355K	$1.4M	10x
Short	Gate QQQ_USDT	742.03	0	get 0.0000% / 8h	1h 16m	$3.1M	$32.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.105%Rate

Funding earned: $0
Price spread: −0.105% → −0.069%: −$3.61
Slippage, 4 orders: −$55.52
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$86.13
Costs to cover: 0.825%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Gate: live order book, 2 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, 1 min ago	2.15 bp	27.5 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.54 bp	12.6 bp −$13	15.9 bp −$159	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 −0.0073% / S +0.0184%	1h	742.45	−0.049%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0042%	1h	741.35	−0.197%	$4.2M	$2.1M	20x	as long as short
BloFin QQQ-USDT	−0.0028%	8h	742.22	−0.079%	$1.0M	$479K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.28	−0.071%	$840K	$780K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.23	−0.078%	$21.5M	$27.8M	50x	as long as short
Gate QQQ_USDTshort	0.0000%	8h	742.03	−0.105%	$3.1M	$32.8M	50x
SunX QQQ-USDT	0.0000%	8h	742.88	+0.009%	$2K	$2.4M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	742.07	−0.100%	$424K	$227K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.83	+0.003%	$257K	$26K	30x	as long as short
Phemex QQQUSDTlong	0.0000%	8h	742.81	long leg	$355K	$1.4M	10x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH QQQ	+0.0032%	1h	742.68	−0.018%	$37.7M	$81.7M	50x	as long as short
Lighter QQQ	+0.0040%	1h	742.32	−0.066%	$7.8M	$21.6M	30x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.72	−0.147%	$737K	$1.4M	25x	as long as short
Variational Omni QQQ	+0.0040%	8h	742.53	−0.037%	$17.2M	$10.0M	—	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.98	+0.023%	—	$621K	50x	as long as short
Binance QQQUSDT	+0.0068%	8h	742.46	−0.047%	$69.7M	$159.9M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0088%	1h	742.05	−0.102%	$1.2M	$870K	20x	as long as short
Bybit QQQUSDT	+0.0088%	8h	742.43	−0.051%	$10.7M	$5.3M	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.05	−0.102%	$3.4M	$432K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.26	−0.074%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.14	−0.225%	$12K	$20K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.74	−0.144%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0158%	1h	742.06	−0.101%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0170%	8h	742.70	−0.015%	$319K	$1.8M	10x	as long as short
Bitget QQQUSDT	+0.0195%	8h	742.46	−0.047%	$16.8M	$7.0M	20x	as long as short
Phoenix QQQ	+0.0259%	1h	742.12	−0.093%	$38K	$73K	20x	as long as short
edgeX QQQUSDC	+0.0270%	4h	742.52	−0.039%	$759K	$336K	20x	as long as short
RISEx QQQ/USDC	+0.0315%	1h	742.61	−0.028%	$5.3M	$8.9M	25x	as long as short