Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.004%

Price spread now: Arcus against Bybit−0.089%7-day average −0.162% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.020%+$2 on $10k

Price spread, last 7 days−0.004%$0 · spread now −0.089%, 7d avg −0.162%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Arcus is 0.073% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit QQQUSDT	741.92	0	get 0.0000% / 8h	34m 54s	$10.7M	$5.1M	50x
Short	Arcus QQQ-USD	741.26	0.0040	get 0.0005% / 1h	34m 54s	$644K	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now −0.089%Rate

Funding earned: $8.46
Price spread: −0.089% → −0.162%: $7.34
Slippage, 4 orders: −$12.37
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$12.07
Costs to cover: 0.279%
Break-even: 17.0 days

Slippage from Bybit: live order book, 3 min ago; Arcus: 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 Bybit live order book, 3 min ago	0.40 bp	7.9 bp −$8	13.4 bp −$134	97.4 bp −$9,735	doesn't fit
Sell Arcus live order book, 4 min ago	0.61 bp	6.4 bp −$6	10.3 bp −$103	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
Ondo Perps QQQ-USD.P	−0.0177%	1h	740.56	−0.183%	$4.2M	$1.8M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0172% / S +0.0261%	1h	741.77	−0.020%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0074%	8h	741.32	−0.081%	$3.3M	$21.6M	50x	as long as short
BloFin QQQ-USDT	−0.0007%	8h	741.72	−0.027%	$1.1M	$274K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.02	+0.014%	$822K	$861K	20x	as long as short
Bybit QQQUSDTlong	0.0000%	8h	741.92	long leg	$10.7M	$5.1M	50x
OKX QQQ-USDT-SWAP	0.0000%	8h	741.65	−0.036%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.56	−0.049%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.00	+0.011%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.73	−0.026%	$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	742.63	+0.096%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.04	+0.016%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.13	+0.028%	$360K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0010%	8h	742.00	+0.011%	$70.2M	$142.2M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.51	−0.055%	$1.2M	$491K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.54	−0.051%	$7.7M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.87	−0.007%	$37.3M	$80.2M	50x	as long as short
Arcus QQQ-USDshort	+0.0040%	1h	741.26	−0.089%	$644K	$1.7M	25x
Vest QQQ-USD-PERP	+0.0046%	1h	742.67	+0.101%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.55	−0.050%	$3.4M	$360K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.38	−0.073%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.41	−0.069%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.99	−0.125%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0118%	1h	741.40	−0.070%	$1.6M	$761K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0127%	8h	741.96	+0.005%	$325K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0227%	1h	741.51	−0.055%	$38K	$65K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0236%	1h	741.51	−0.055%	$424K	$156K	20x	as long as short
edgeX QQQUSDC	+0.0600%	4h	741.80	−0.016%	$758K	$335K	20x	as long as short