Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0194%/8h= −21.2% APRpaid last 24h −0.005%

Price spread now: HTX against Phoenix+0.034%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 HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.235%−$23 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. HTX is 0.034% dearer against Phoenix than usual: you sell high and buy low (spread +0.034% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix QQQ	742.87	0.0194	pay 0.0024% / 1h	44m 33s	$38K	$73K	20x
Short	HTX QQQ-USDT	743.12	0	get 0.0000% / 8h	44m 33s	$257K	$26K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$40.72
Price spread: +0.034% → 0.000%: $3.37
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$56.35
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; HTX: live order book, 32 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 HTX live order book, 32 min ago	2.69 bp	8.7 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit

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 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 −0.0070% / S +0.0181%	1h	743.49	+0.083%	$25K	—	26x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.24	+0.050%	$21.6M	$27.7M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.90	+0.004%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.95	+0.145%	$2K	$2.3M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	743.02	+0.020%	$424K	$185K	20x	as long as short
HTX QQQ-USDTshort	0.0000%	8h	743.12	+0.034%	$257K	$26K	30x
Phemex QQQUSDT	0.0000%	8h	743.90	+0.139%	$359K	$1.4M	10x	as long as short
Aster QQQUSDT	+0.0001%	8h	743.23	+0.049%	$841K	$780K	20x	as long as short
BloFin QQQ-USDT	+0.0020%	8h	743.09	+0.030%	$1.0M	$468K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.70	−0.023%	$738K	$1.4M	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX QQQUSDC	+0.0045%	4h	743.18	+0.042%	$760K	$337K	20x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.92	+0.141%	—	$621K	50x	as long as short
Lighter RH QQQ	+0.0048%	1h	743.60	+0.098%	$37.6M	$79.0M	50x	as long as short
Variational Omni QQQ	+0.0049%	8h	743.31	+0.060%	$17.6M	$10.3M	—	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	742.08	−0.106%	$4.2M	$2.1M	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0072%	1h	742.80	−0.009%	$1.2M	$866K	20x	as long as short
Binance QQQUSDT	+0.0080%	8h	743.42	+0.074%	$71.0M	$160.6M	25x	as long as short
Lighter QQQ	+0.0088%	1h	743.29	+0.057%	$7.6M	$20.9M	30x	as long as short
Bybit QQQUSDT	+0.0099%	8h	743.52	+0.087%	$10.7M	$5.2M	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.93	+0.008%	$3.4M	$424K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.85	−0.003%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.16	+0.039%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.79	−0.011%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0177%	1h	743.03	+0.022%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0188%	8h	743.36	+0.066%	$323K	$1.8M	10x	as long as short
RISEx QQQ/USDC	+0.0193%	1h	743.66	+0.107%	$5.4M	$8.9M	25x	as long as short
Phoenix QQQlong	+0.0194%	1h	742.87	long leg	$38K	$73K	20x
Bitget QQQUSDT	+0.0195%	8h	743.44	+0.077%	$16.9M	$7.1M	20x	as long as short