Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Deribit against Bybit−0.042%7-day average −0.073% · 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−$22as in the Price arb table

costs, in and out, $10k−$250.247% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.091%+$9 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now −0.042%, 7d avg −0.073%

Together, before fees+0.061%+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.031% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit QQQUSDT	741.68	0	get 0.0000% / 8h	7m 45s	$10.7M	$5.0M	50x
Short	Deribit QQQ_USDC-PERPETUAL	741.37	0	get 0.0000% / 1h	7m 45s	$424K	$156K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.073%: $3.14
Slippage, 4 orders: −$6.68
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$21.54
Costs to cover: 0.247%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Deribit: live order book, 31 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, 5 min ago	0.27 bp	7.7 bp −$8	14.1 bp −$141	95.4 bp −$9,543	doesn't fit
Sell Deribit live order book, 31 min ago	0.07 bp	6.2 bp −$6	7.6 bp −$76	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 −0.0177% / S +0.0265%	1h	741.71	+0.003%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0123%	1h	740.66	−0.138%	$4.2M	$1.8M	20x	as long as short
Gate QQQ_USDT	−0.0094%	8h	741.21	−0.063%	$3.3M	$21.7M	50x	as long as short
BloFin QQQ-USDT	−0.0005%	8h	741.47	−0.028%	$1.1M	$274K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.69	+0.001%	$824K	$864K	20x	as long as short
Bybit QQQUSDTlong	0.0000%	8h	741.68	long leg	$10.7M	$5.0M	50x
OKX QQQ-USDT-SWAP	0.0000%	8h	741.35	−0.044%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.49	−0.026%	$5.4M	$5.9M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.82	+0.019%	$16.5M	$5.3M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.57	−0.015%	$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	+0.049%	$2K	$1.7M	10x	as long as short
Deribit QQQ_USDC-PERPETUALshort	0.0000%	1h	741.37	−0.042%	$424K	$156K	20x
HTX QQQ-USDT	0.0000%	8h	741.93	+0.034%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.04	+0.049%	$359K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.15	−0.071%	$1.2M	$486K	20x	as long as short
Binance QQQUSDT	+0.0025%	8h	741.67	−0.001%	$70.3M	$140.6M	25x	as long as short
Lighter QQQ	+0.0032%	1h	741.51	−0.023%	$7.7M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.79	+0.015%	$37.4M	$81.4M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.84	−0.113%	$647K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.61	+0.125%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.28	−0.054%	$3.4M	$355K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.13	−0.074%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.46	−0.030%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.97	−0.096%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0140%	1h	741.25	−0.059%	$1.6M	$744K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0144%	8h	741.77	+0.012%	$314K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0227%	1h	741.17	−0.069%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0942%	4h	741.62	−0.008%	$758K	$335K	20x	as long as short