Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h +0.017%

Price spread now: Binance against Phoenix+0.082%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.257%−$26 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Binance is 0.082% dearer against Phoenix than usual: you sell high and buy low (spread +0.082% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix QQQ	743.76	0.0183	pay 0.0023% / 1h	4m 45s	$38K	$66K	20x
Short	Binance QQQUSDT	744.37	0.0079	get 0.0079% / 8h	6h 04m	$71.2M	$145.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now +0.082%Rate

Funding earned: −$21.71
Price spread: +0.082% → 0.000%: $8.2
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$30.51
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 8 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Binance live order book, 8 min ago	0.07 bp	5.1 bp −$5	5.4 bp −$54	9.9 bp −$990	26.2 bp −$13.1K

Phoenix: 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 27 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 −0.0103% / S +0.0207%	1h	744.38	+0.083%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0068%	1h	743.27	−0.066%	$4.2M	$1.9M	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.45	+0.093%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.26	+0.067%	$21.7M	$26.4M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.95	+0.026%	$3.3M	$23.7M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.87	+0.149%	$2K	$2.0M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.58	+0.110%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.67	+0.122%	$360K	$1.4M	10x	as long as short
Bitget QQQUSDT	+0.0002%	8h	744.47	+0.095%	$16.9M	$5.8M	20x	as long as short
Aster QQQUSDT	+0.0003%	8h	744.36	+0.080%	$841K	$713K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX QQQUSDC	+0.0016%	4h	744.30	+0.073%	$761K	$334K	20x	as long as short
Lighter QQQ	+0.0032%	1h	744.13	+0.050%	$7.7M	$17.8M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.56	+0.108%	$37.4M	$80.5M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.51	−0.034%	$705K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.32	+0.210%	—	$337K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	743.65	−0.015%	$1.2M	$533K	20x	as long as short
Variational Omni QQQ	+0.0055%	8h	744.30	+0.073%	$17.1M	$7.6M	—	as long as short
Binance QQQUSDTshort	+0.0079%	8h	744.37	+0.082%	$71.2M	$145.7M	25x
KuCoin QQQUSDTM	+0.0100%	8h	744.03	+0.036%	$3.4M	$412K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.98	+0.030%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.11	+0.047%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.55	−0.029%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0122%	1h	743.94	+0.024%	$1.5M	$946K	20x	as long as short
RISEx QQQ/USDC	+0.0168%	1h	744.40	+0.086%	$5.4M	$8.0M	25x	as long as short
Phoenix QQQlong	+0.0183%	1h	743.76	long leg	$38K	$66K	20x
GRVT QQQ_USDT_Perp	+0.0183%	8h	744.39	+0.085%	$322K	$1.9M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0207%	1h	744.18	+0.056%	$425K	$149K	20x	as long as short