Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0158%/8h= −17.3% APRpaid last 24h −0.051%

Price spread now: Ondo Perps against Variational Omni−0.183%7-day average −0.195% · you buy dearer than you sell

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.063%−$6 on $10k

Price spread, last 7 days−0.084%−$8 · spread now −0.183%, 7d avg −0.195%

Together, before fees−0.147%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.195%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni QQQ	741.66	0	get 0.0000% / 8h	20m 06s	$16.8M	$7.2M	—
Short	Ondo Perps QQQ-USD.P	740.30	−0.0158	pay 0.0020% / 1h	20m 06s	$4.2M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.183%Rate

Funding earned: −$33.1
Price spread: −0.183% → −0.195%: $1.22
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$36.88
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Ondo Perps: 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 Variational Omni RFQ quote, 4 min ago	1.90 bp	doesn't fit	2.5 bp −$25	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 −0.0175% / S +0.0263%	1h	741.76	+0.015%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.Pshort	−0.0158%	1h	740.30	−0.183%	$4.2M	$1.8M	20x
Gate QQQ_USDT	−0.0085%	8h	741.15	−0.068%	$3.3M	$21.7M	50x	as long as short
BloFin QQQ-USDT	−0.0007%	8h	741.53	−0.017%	$1.1M	$275K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.79	+0.018%	$824K	$863K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.76	+0.014%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.47	−0.025%	$21.4M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.54	−0.016%	$5.4M	$6.0M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.90	+0.033%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQlong	0.0000%	8h	741.66	long leg	$16.8M	$7.2M	—

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	742.03	+0.051%	$2K	$1.7M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	741.97	+0.042%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.25	+0.080%	$361K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.15	−0.068%	$1.2M	$489K	20x	as long as short
Binance QQQUSDT	+0.0019%	8h	741.76	+0.014%	$70.2M	$141.3M	25x	as long as short
Lighter QQQ	+0.0032%	1h	741.54	−0.016%	$7.7M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.89	+0.032%	$37.4M	$80.5M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.00	−0.088%	$645K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.65	+0.134%	—	$337K	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0074%	1h	741.47	−0.025%	$424K	$156K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.28	−0.051%	$3.4M	$362K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.17	−0.065%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.50	−0.021%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.97	−0.092%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0134%	1h	741.34	−0.043%	$1.6M	$750K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0137%	8h	741.76	+0.014%	$325K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0227%	1h	741.12	−0.072%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0345%	4h	741.48	−0.024%	$758K	$335K	20x	as long as short