Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.011%

Price spread now: Coinbase International against Binance+0.001%7-day average −0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.263%+$26 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now +0.001%, 7d avg −0.058%

Together, before fees+0.302%+$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.060% dearer against Binance than usual: you sell high and buy low (spread +0.001% now, against its 7-day average of −0.058%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.263%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance QQQUSDT	741.62	0.0055	pay 0.0055% / 8h	6h 55m	$70.9M	$141.9M	25x
Short	Coinbase International QQQ-PERP-INTX	741.63	0.0032	get 0.0004% / 1h	55m 16s	$1.2M	$512K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$4.87
Price spread: +0.001% → −0.058%: $5.95
Slippage, 4 orders: −$2.6
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$21.52
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Coinbase International: live order book, 3 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 Binance live order book, 3 min ago	0.07 bp	5.1 bp −$5	5.3 bp −$53	9.1 bp −$912	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.07 bp	7.0 bp −$7	8.1 bp −$81	doesn't fit	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 −0.0192% / S +0.0277%	1h	741.62	−0.001%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0062%	1h	740.71	−0.123%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0007%	8h	741.88	+0.035%	$1.1M	$281K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.86	+0.032%	$857K	$902K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.49	−0.018%	$21.6M	$30.1M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.62	0.000%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.22	−0.054%	$3.5M	$19.7M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.65	+0.004%	$16.7M	$5.3M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.44	+0.111%	$2K	$1.6M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.48	+0.116%	$251K	$38K	30x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDT	0.0000%	8h	742.39	+0.104%	$362K	$1.6M	10x	as long as short
Variational Omni QQQ	+0.0029%	8h	741.96	+0.046%	$16.8M	$7.3M	—	as long as short
Lighter QQQ	+0.0032%	1h	741.45	−0.023%	$7.6M	$14.7M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.85	+0.031%	$38.3M	$76.8M	50x	as long as short
Coinbase International QQQ-PERP-INTXshort	+0.0032%	1h	741.63	+0.001%	$1.2M	$512K	20x
Arcus QQQ-USD	+0.0040%	1h	740.93	−0.093%	$647K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.58	+0.129%	—	$337K	50x	as long as short
Binance QQQUSDTlong	+0.0055%	8h	741.62	long leg	$70.9M	$141.9M	25x
Bybit QQQUSDT	+0.0078%	8h	741.77	+0.020%	$10.6M	$5.0M	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.31	−0.042%	$3.4M	$414K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.74	+0.016%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.46	−0.022%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.85	−0.103%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0145%	1h	741.38	−0.032%	$1.6M	$744K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0182%	1h	741.25	−0.050%	$423K	$126K	20x	as long as short
Phoenix QQQ	+0.0248%	1h	741.73	+0.015%	$38K	$59K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0277%	8h	742.31	+0.092%	$315K	$2.0M	10x	as long as short
edgeX QQQUSDC	+0.0704%	4h	741.86	+0.033%	$759K	$335K	20x	as long as short