Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.027%

Price spread now: OKX against ApeX Omni−0.012%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$310.314% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

Price spread, last 7 days+0.085%+$9 · spread now −0.012%, 7d avg +0.064%

Together, before fees−0.089%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.076% cheaper against ApeX Omni than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.064%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni QQQUSDT	741.43	0.0100	pay 0.0013% / 1h	59m 13s	$20K	$2.2M	50x
Short	OKX QQQ-USDT-SWAP	741.34	0	get 0.0000% / 8h	7h 59m	$21.5M	$28.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against ApeX 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 ApeX OmnibpFee OKXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$21
Price spread: −0.012% → +0.064%: −$7.61
Slippage, 4 orders: −$11.36
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$59.97
Costs to cover: 0.314%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; OKX: live order book, 4 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 ApeX Omni live order book, 5 min ago	3.78 bp	9.9 bp −$10	28.9 bp −$289	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.07 bp	5.1 bp −$5	6.7 bp −$67	14.2 bp −$1,418	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 −0.0179% / S +0.0267%	1h	741.57	+0.018%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0098%	8h	741.22	−0.028%	$3.3M	$20.4M	50x	as long as short
BloFin QQQ-USDT	−0.0002%	8h	741.33	−0.013%	$1.1M	$274K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.61	+0.024%	$824K	$865K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.56	+0.018%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAPshort	0.0000%	8h	741.34	−0.012%	$21.5M	$28.3M	50x
RISEx QQQ/USDC	0.0000%	1h	741.59	+0.021%	$5.3M	$5.7M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.29	−0.019%	$16.5M	$5.3M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.63	+0.028%	$16.8M	$7.2M	—	as long as short
Nado QQQ-PERP	0.0000%	1h	741.37	−0.008%	$1.6M	$745K	20x	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	+0.082%	$2K	$1.7M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	741.58	+0.020%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	741.76	+0.045%	$361K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0024%	1h	741.06	−0.050%	$1.2M	$486K	20x	as long as short
Binance QQQUSDT	+0.0029%	8h	741.51	+0.011%	$70.4M	$140.8M	25x	as long as short
Lighter QQQ	+0.0032%	1h	741.25	−0.024%	$7.7M	$14.9M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.59	+0.022%	$37.5M	$78.4M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.78	−0.088%	$647K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.50	+0.144%	—	$337K	50x	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	740.78	−0.088%	$4.2M	$1.8M	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0060%	1h	741.34	−0.012%	$424K	$156K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.18	−0.034%	$3.4M	$362K	20x	as long as short
ApeX Omni QQQUSDTlong	+0.0100%	1h	741.43	long leg	$20K	$2.2M	50x
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.37	−0.008%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.89	−0.073%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0148%	8h	741.90	+0.063%	$314K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0227%	1h	741.35	−0.011%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0784%	4h	741.84	+0.055%	$758K	$337K	20x	as long as short