Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: Phemex against Vest+0.019%7-day average −0.103% · you sell dearer than you buy

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

Long on Vest Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.044%−$4 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now +0.019%, 7d avg −0.103%

Together, before fees+0.004%+ Points / potential airdropVest: Active · farm board$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.122% dearer against Vest than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.103%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest QQQ-USD-PERP	743.82	0.0046	pay 0.0006% / 1h	40m 43s	—	$621K	50x
Short	Phemex QQQUSDT	743.96	0	get 0.0000% / 8h	40m 43s	$360K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee PhemexbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$9.59
Price spread: +0.019% → −0.103%: $12.22
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$11.37
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Phemex: live order book, 2 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 Vest no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	3.36 bp	34.8 bp −$35	doesn't fit	doesn't fit	doesn't fit

Vest: 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	−0.057%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0023%	8h	743.09	−0.098%	$1.0M	$469K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.20	−0.083%	$21.6M	$27.8M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.83	−0.133%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.80	−0.003%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.15	−0.090%	$257K	$26K	30x	as long as short
Phemex QQQUSDTshort	0.0000%	8h	743.96	+0.019%	$360K	$1.4M	10x
Aster QQQUSDT	+0.0001%	8h	743.35	−0.063%	$841K	$783K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.70	−0.151%	$738K	$1.4M	25x	as long as short
Vest QQQ-USD-PERPlong	+0.0046%	1h	743.82	long leg	—	$621K	50x

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	−0.034%	$37.6M	$79.2M	50x	as long as short
Variational Omni QQQ	+0.0049%	8h	743.31	−0.068%	$17.6M	$10.3M	—	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	742.20	−0.218%	$4.2M	$2.1M	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0072%	1h	742.80	−0.137%	$1.2M	$866K	20x	as long as short
Binance QQQUSDT	+0.0080%	8h	743.36	−0.062%	$71.0M	$160.6M	25x	as long as short
Lighter QQQ	+0.0080%	1h	743.23	−0.079%	$7.6M	$20.9M	30x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.93	−0.120%	$3.4M	$423K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.92	−0.121%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.10	−0.097%	$12K	$21K	20x	as long as short
Bybit QQQUSDT	+0.0100%	8h	743.44	−0.051%	$10.7M	$5.2M	50x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.63	−0.159%	$92K	$1K	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0113%	1h	743.07	−0.101%	$424K	$173K	20x	as long as short
Nado QQQ-PERP	+0.0180%	1h	742.75	−0.143%	$1.5M	$1.3M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0192%	8h	743.56	−0.034%	$323K	$1.8M	10x	as long as short
RISEx QQQ/USDC	+0.0193%	1h	743.48	−0.046%	$5.4M	$8.9M	25x	as long as short
Bitget QQQUSDT	+0.0193%	8h	743.39	−0.058%	$16.9M	$7.1M	20x	as long as short
Phoenix QQQ	+0.0194%	1h	743.04	−0.105%	$38K	$73K	20x	as long as short
edgeX QQQUSDC	+0.0269%	4h	743.44	−0.051%	$760K	$338K	20x	as long as short