Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.059%

Price spread now: Orderly against RISEx−0.051%7-day average — · you buy dearer than you sell

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

Long on RISEx Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.051% cheaper against RISEx than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx QQQ/USDC	743.48	0.0193	pay 0.0024% / 1h	40m 27s	$5.4M	$8.9M	25x
Short	Orderly PERP_QQQ_USDC_mythos	743.10	0.0100	get 0.0100% / 8h	40m 27s	$12K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against RISEx. 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 RISExbpFee OrderlybpOrdersPrice spread, now −0.051%Rate

Funding earned: −$19.51
Price spread: −0.051% → 0.000%: −$5.06
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$36.57
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 4 min ago; Orderly: no order-book sample. 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 RISEx live order book, 4 min ago	0.07 bp	3.1 bp −$3	4.1 bp −$41	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.0071% / S +0.0182%	1h	743.39	−0.011%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0023%	8h	743.09	−0.052%	$1.0M	$469K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.20	−0.037%	$21.6M	$27.8M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.83	−0.087%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.80	+0.044%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.15	−0.044%	$257K	$26K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.96	+0.065%	$360K	$1.4M	10x	as long as short
Aster QQQUSDT	+0.0001%	8h	743.36	−0.016%	$841K	$783K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.70	−0.104%	$738K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.83	+0.048%	—	$621K	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH QQQ	+0.0048%	1h	743.57	+0.013%	$37.6M	$79.2M	50x	as long as short
Variational Omni QQQ	+0.0049%	8h	743.31	−0.022%	$17.6M	$10.3M	—	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	742.20	−0.172%	$4.2M	$2.1M	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0072%	1h	742.80	−0.091%	$1.2M	$866K	20x	as long as short
Binance QQQUSDT	+0.0080%	8h	743.38	−0.013%	$71.0M	$160.6M	25x	as long as short
Lighter QQQ	+0.0080%	1h	743.23	−0.033%	$7.6M	$20.9M	30x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.94	−0.072%	$3.4M	$423K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.92	−0.075%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	743.10	−0.051%	$12K	$21K	20x
Bybit QQQUSDT	+0.0100%	8h	743.44	−0.005%	$10.7M	$5.2M	50x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.63	−0.113%	$92K	$1K	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0113%	1h	743.07	−0.055%	$424K	$173K	20x	as long as short
Nado QQQ-PERP	+0.0179%	1h	742.86	−0.082%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0192%	8h	743.56	+0.012%	$323K	$1.8M	10x	as long as short
RISEx QQQ/USDClong	+0.0193%	1h	743.48	long leg	$5.4M	$8.9M	25x
Bitget QQQUSDT	+0.0193%	8h	743.39	−0.012%	$16.9M	$7.1M	20x	as long as short
Phoenix QQQ	+0.0194%	1h	743.04	−0.059%	$38K	$73K	20x	as long as short
edgeX QQQUSDC	+0.0269%	4h	743.44	−0.005%	$760K	$338K	20x	as long as short