Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.004%

Price spread now: Bybit against Arcus+0.133%7-day average +0.162% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.133%, 7d avg +0.162%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.029% cheaper against Arcus than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.162%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus QQQ-USD	743.61	0.0040	pay 0.0005% / 1h	3m 06s	$695K	$1.6M	25x
Short	Bybit QQQUSDT	744.60	0	get 0.0000% / 8h	5h 03m	$10.7M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now +0.133%Rate

Funding earned: −$8.46
Price spread: +0.133% → +0.162%: −$2.89
Slippage, 4 orders: −$8.45
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$35.3
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Arcus: live order book, 1 min ago; Bybit: live order book, 5 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 Arcus live order book, 1 min ago	0.20 bp	4.2 bp −$4	7.6 bp −$76	26.6 bp −$2,659	doesn't fit
Sell Bybit live order book, 5 min ago	0.40 bp	7.5 bp −$8	8.7 bp −$87	62.0 bp −$6,197	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 −0.0116% / S +0.0217%	1h	744.48	+0.116%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0075%	1h	743.24	−0.050%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0010%	8h	744.38	+0.104%	$1.1M	$271K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	744.43	+0.111%	$841K	$714K	20x	as long as short
Bybit QQQUSDTshort	0.0000%	8h	744.60	+0.133%	$10.7M	$5.0M	50x
OKX QQQ-USDT-SWAP	0.0000%	8h	744.36	+0.101%	$21.5M	$26.8M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.54	+0.125%	$5.4M	$7.5M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	744.01	+0.054%	$3.3M	$21.2M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.60	+0.133%	$16.9M	$5.7M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.92	+0.176%	$2K	$1.9M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDT	0.0000%	8h	744.78	+0.157%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.77	+0.156%	$360K	$1.5M	10x	as long as short
Variational Omni QQQ	+0.0018%	8h	744.37	+0.102%	$17.1M	$7.5M	—	as long as short
Lighter QQQ	+0.0032%	1h	744.32	+0.095%	$7.7M	$17.2M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.76	+0.155%	$37.1M	$80.8M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	743.92	+0.042%	$1.2M	$535K	20x	as long as short
Arcus QQQ-USDlong	+0.0040%	1h	743.61	long leg	$695K	$1.6M	25x
Vest QQQ-USD-PERP	+0.0046%	1h	745.48	+0.251%	—	$337K	50x	as long as short
Binance QQQUSDT	+0.0052%	8h	744.46	+0.115%	$71.2M	$142.6M	25x	as long as short
Nado QQQ-PERP	+0.0083%	1h	744.13	+0.070%	$1.5M	$876K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	744.17	+0.075%	$3.4M	$403K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	744.22	+0.082%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.23	+0.083%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.68	+0.009%	$93K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0122%	8h	744.71	+0.148%	$322K	$1.9M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0126%	1h	744.30	+0.093%	$425K	$149K	20x	as long as short
Phoenix QQQ	+0.0161%	1h	744.14	+0.071%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0453%	4h	744.45	+0.113%	$761K	$335K	20x	as long as short