Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.010%

Price spread now: ApeX Omni against Variational Omni−0.053%103s7-day average −0.055% · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.074%+$7 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.053%, 7d avg −0.055%

Together, before fees+0.102%+ Points / potential airdropVariational Omni: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.055%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni QQQ	743.83	0.0040	pay 0.0040% / 8h	7h 53m	$17.1M	$10.8M	—
Short	ApeX Omni QQQUSDT	743.44	0.0100	get 0.0013% / 1h	53m 44s	$20K	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.053%Rate

Funding earned: $12.7
Price spread: −0.053% → −0.055%: $0.22
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $2.92
Costs to cover: 0.100%
Break-even: 5.4 days

Slippage unknown: Variational Omni: RFQ quote, just now; ApeX Omni: live order book, just now. 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 Variational Omni RFQ quote, just now	1.90 bp	doesn't fit	2.0 bp −$20	9.8 bp −$976	doesn't fit
Sell ApeX Omni live order book, just now	3.77 bp	9.8 bp −$10	24.8 bp −$248	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
Ondo Perps QQQ-USD.P	−0.0350%	1h	742.30	−0.206%	$4.2M	$2.0M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0081% / S +0.0190%	1h	743.97	+0.018%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0028%	8h	743.31	−0.071%	$3.1M	$26.1M	50x	as long as short
BloFin QQQ-USDT	−0.0018%	8h	743.81	−0.003%	$1.0M	$318K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.55	−0.038%	$841K	$757K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.83	−0.001%	$21.5M	$25.4M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.43	+0.080%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.14	−0.093%	$257K	$28K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.97	+0.018%	$363K	$1.4M	10x	as long as short
Bybit QQQUSDT	+0.0024%	8h	744.03	+0.026%	$10.7M	$4.8M	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QQQ	+0.0032%	1h	743.76	−0.010%	$7.6M	$18.1M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.04	+0.028%	$37.4M	$78.6M	50x	as long as short
Variational Omni QQQlong	+0.0040%	8h	743.83	long leg	$17.1M	$10.8M	—
Arcus QQQ-USD	+0.0040%	1h	742.99	−0.114%	$747K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.49	+0.088%	—	$388K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	743.51	−0.044%	$1.2M	$626K	20x	as long as short
Binance QQQUSDT	+0.0068%	8h	743.93	+0.013%	$70.9M	$156.3M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.57	−0.036%	$3.4M	$413K	20x	as long as short
ApeX Omni QQQUSDTshort	+0.0100%	1h	743.44	−0.053%	$20K	$2.2M	50x
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.64	−0.026%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.32	−0.069%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0107%	1h	743.45	−0.052%	$1.5M	$1.2M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0116%	8h	743.95	+0.015%	$316K	$1.8M	10x	as long as short
Bitget QQQUSDT	+0.0170%	8h	743.98	+0.020%	$16.9M	$6.6M	20x	as long as short
Phoenix QQQ	+0.0194%	1h	743.43	−0.054%	$38K	$66K	20x	as long as short
RISEx QQQ/USDC	+0.0208%	1h	743.89	+0.008%	$5.6M	$9.0M	25x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0275%	1h	743.94	+0.014%	$425K	$147K	20x	as long as short
edgeX QQQUSDC	+0.0662%	4h	743.73	−0.014%	$760K	$335K	20x	as long as short