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 0.000%

Price spread now: SunX against Phemex+0.042%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1241.241% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.042%, 7d avg +0.014%

Together, before fees−0.047%−$5 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: SunX is 0.028% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex QQQUSDT	742.05	0	get 0.0000% / 8h	1h 40m	$360K	$1.6M	10x
Short	SunX QQQ-USDT	742.36	0	get 0.0000% / 8h	1h 40m	$2K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $0
Price spread: +0.042% → +0.014%: $2.79
Slippage, 4 orders: −$104.14
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$121.35
Costs to cover: 1.241%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; SunX: live order book, 5 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, 2 min ago	2.16 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	21.62 bp	38.0 bp −$38	doesn't fit	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 −0.0158% / S +0.0250%	1h	741.90	−0.020%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0030%	1h	740.94	−0.150%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0011%	8h	741.77	−0.038%	$1.1M	$278K	20x	as long as short
Gate QQQ_USDT	−0.0001%	8h	741.26	−0.106%	$3.3M	$21.5M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.78	−0.036%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.82	−0.031%	$10.5M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.68	−0.050%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.72	−0.044%	$5.5M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.00	−0.007%	$16.6M	$5.6M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.78	−0.037%	$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-USDTshort	0.0000%	8h	742.36	+0.042%	$2K	$1.8M	10x
HTX QQQ-USDT	0.0000%	8h	741.96	−0.012%	$250K	$41K	30x	as long as short
Phemex QQQUSDTlong	0.0000%	8h	742.05	long leg	$360K	$1.6M	10x
Binance QQQUSDT	+0.0001%	8h	741.88	−0.022%	$70.1M	$145.4M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.73	−0.043%	$1.2M	$550K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.66	−0.053%	$7.6M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0040%	1h	742.06	+0.001%	$36.9M	$80.0M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.05	−0.135%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.82	+0.104%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.50	−0.074%	$3.4M	$352K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.52	−0.071%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.61	−0.059%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.11	−0.127%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0111%	8h	742.20	+0.020%	$318K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0145%	1h	741.52	−0.071%	$1.5M	$758K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.77	−0.038%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0211%	4h	741.89	−0.022%	$759K	$336K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0276%	1h	741.70	−0.047%	$424K	$154K	20x	as long as short