Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0774%/8h= +84.8% APRpaid last 24h +0.115%

Price spread now: edgeX against SunX−0.024%74s7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$810.811% of the position

Long on SunX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 4 days (all we have)−0.147%−$15 · spread now −0.024%, 7d avg −0.066%

Together, before fees−0.013%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and edgeX is 0.042% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.066%. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.134% in total (about 7.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX QQQ-USDT	740.40	0	get 0.0000% / 8h	7h 31m	$2K	$1.7M	10x
Short	edgeX QQQUSDC	740.23	0.0774	get 0.0387% / 4h	3h 31m	$757K	$336K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against SunX. 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 SunXbpFee edgeXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $162.64
Price spread: −0.024% → −0.066%: $4.2
Slippage, 4 orders: −$64.09
Fee SunX: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $85.75
Costs to cover: 0.811%
Break-even: 3.3 days

Slippage from SunX: live order book, 4 min ago; edgeX: 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 SunX live order book, 4 min ago	21.67 bp	25.7 bp −$26	54.7 bp −$547	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	4.12 bp	8.7 bp −$9	9.7 bp −$97	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 −0.0185% / S +0.0271%	1h	739.97	−0.059%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	739.90	−0.068%	$822K	$869K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	739.88	−0.070%	$10.6M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	739.59	−0.109%	$21.5M	$28.2M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	739.84	−0.075%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	739.48	−0.124%	$3.4M	$20.6M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	739.94	−0.062%	$16.5M	$5.1M	20x	as long as short
SunX QQQ-USDTlong	0.0000%	8h	740.40	long leg	$2K	$1.7M	10x
HTX QQQ-USDT	0.0000%	8h	740.35	−0.007%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	740.24	−0.022%	$363K	$1.6M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QQQ	+0.0002%	8h	740.22	−0.024%	$16.7M	$7.2M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0024%	1h	740.02	−0.051%	$1.2M	$495K	20x	as long as short
BloFin QQQ-USDT	+0.0028%	8h	740.01	−0.053%	$1.1M	$274K	20x	as long as short
Binance QQQUSDT	+0.0031%	8h	739.89	−0.068%	$70.1M	$139.9M	25x	as long as short
Lighter QQQ	+0.0032%	1h	739.56	−0.113%	$7.6M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	739.96	−0.059%	$37.5M	$79.7M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	739.15	−0.169%	$646K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	740.87	+0.063%	—	$337K	50x	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	739.25	−0.155%	$4.2M	$1.8M	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	739.55	−0.115%	$3.4M	$384K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	739.84	−0.076%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	739.74	−0.089%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	739.26	−0.154%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0154%	1h	739.52	−0.119%	$1.6M	$744K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0186%	8h	740.44	+0.005%	$326K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0210%	1h	739.64	−0.103%	$423K	$136K	20x	as long as short
Phoenix QQQ	+0.0248%	1h	739.82	−0.078%	$38K	$65K	20x	as long as short
edgeX QQQUSDCshort	+0.0774%	4h	740.23	−0.024%	$757K	$336K	20x