Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: Phemex against Aevo+0.138%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$18 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.138% dearer against Aevo than usual: you sell high and buy low (spread +0.138% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo QQQ-PERP	740.98	0.0104	pay 0.0013% / 1h	7m 07s	$92K	$1K	10x
Short	Phemex QQQUSDT	742.00	0	get 0.0000% / 8h	7m 07s	$358K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.138%Rate

Funding earned: −$21.84
Price spread: +0.138% → 0.000%: $13.79
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$36.05
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Phemex: live order book, 1 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 Aevo no order-book sample	—	—	—	—	—
Sell Phemex live order book, 1 min ago	1.42 bp	29.1 bp −$29	doesn't fit	doesn't fit	doesn't fit

Aevo: 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 −0.0177% / S +0.0265%	1h	741.75	+0.103%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0123%	1h	740.66	−0.043%	$4.2M	$1.8M	20x	as long as short
Gate QQQ_USDT	−0.0094%	8h	741.21	+0.031%	$3.3M	$21.7M	50x	as long as short
BloFin QQQ-USDT	−0.0019%	8h	741.34	+0.049%	$1.1M	$274K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.73	+0.101%	$824K	$864K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.65	+0.091%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.48	+0.068%	$21.5M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.49	+0.069%	$5.4M	$5.9M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.86	+0.119%	$16.5M	$5.3M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.57	+0.080%	$16.8M	$7.2M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	742.04	+0.143%	$2K	$1.7M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	741.34	+0.049%	$424K	$156K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.03	+0.142%	$251K	$41K	30x	as long as short
Phemex QQQUSDTshort	0.0000%	8h	742.00	+0.138%	$358K	$1.6M	10x
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.14	+0.022%	$1.2M	$487K	20x	as long as short
Binance QQQUSDT	+0.0025%	8h	741.74	+0.103%	$70.3M	$140.6M	25x	as long as short
Lighter QQQ	+0.0032%	1h	741.53	+0.074%	$7.7M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.88	+0.122%	$37.4M	$81.5M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.84	−0.019%	$647K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.64	+0.224%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.32	+0.046%	$3.4M	$356K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.13	+0.020%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.43	+0.061%	$12K	$21K	20x	as long as short
Aevo QQQ-PERPlong	+0.0104%	1h	740.98	long leg	$92K	$1K	10x
Nado QQQ-PERP	+0.0140%	1h	741.27	+0.040%	$1.6M	$744K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0144%	8h	741.77	+0.107%	$314K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0227%	1h	741.17	+0.026%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0942%	4h	741.62	+0.086%	$758K	$335K	20x	as long as short