Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.023%

Price spread now: KuCoin against Coinbase International−0.009%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.009%, 7d avg +0.023%

Together, before fees−0.079%−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.033% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.023%). If the spread goes back, that is −$3 on $10k: about 31 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International QQQ-PERP-INTX	741.55	0.0016	pay 0.0002% / 1h	24m 12s	$1.2M	$550K	20x
Short	KuCoin QQQUSDTM	741.48	0.0100	get 0.0100% / 8h	1h 24m	$3.4M	$353K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now −0.009%Rate

Funding earned: $17.64
Price spread: −0.009% → +0.023%: −$3.27
Slippage, 4 orders: −$11.72
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$19.34
Costs to cover: 0.337%
Break-even: 14.7 days

Slippage from Coinbase International: live order book, 4 min ago; KuCoin: 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 Coinbase International live order book, 4 min ago	0.07 bp	5.5 bp −$5	7.4 bp −$74	37.0 bp −$3,703	doesn't fit
Sell KuCoin live order book, 3 min ago	1.48 bp	13.5 bp −$14	119.8 bp −$1,198	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 −0.0161% / S +0.0253%	1h	741.98	+0.057%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0029%	8h	741.25	−0.040%	$3.3M	$21.5M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.94	+0.053%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.90	+0.047%	$10.5M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.75	+0.027%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.68	+0.018%	$5.5M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.03	+0.065%	$16.6M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.98	+0.057%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.77	+0.165%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.14	+0.080%	$251K	$41K	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	742.22	+0.090%	$365K	$1.6M	10x	as long as short
Ondo Perps QQQ-USD.P	+0.0001%	1h	740.66	−0.120%	$4.2M	$1.8M	20x	as long as short
Binance QQQUSDT	+0.0003%	8h	742.00	+0.060%	$70.0M	$144.5M	25x	as long as short
BloFin QQQ-USDT	+0.0004%	8h	741.75	+0.027%	$1.1M	$271K	20x	as long as short
Coinbase International QQQ-PERP-INTXlong	+0.0016%	1h	741.55	long leg	$1.2M	$550K	20x
Lighter QQQ	+0.0032%	1h	741.73	+0.024%	$7.7M	$15.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.12	+0.077%	$37.0M	$80.6M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.15	−0.054%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.90	+0.182%	—	$337K	50x	as long as short
KuCoin QQQUSDTMshort	+0.0100%	8h	741.48	−0.009%	$3.4M	$353K	20x
ApeX Omni QQQUSDT	+0.0100%	1h	741.57	+0.003%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.63	+0.011%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.22	−0.045%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0116%	8h	742.17	+0.084%	$322K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0131%	1h	741.48	−0.010%	$1.5M	$764K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.63	+0.011%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0209%	1h	741.71	+0.022%	$424K	$154K	20x	as long as short
edgeX QQQUSDC	+0.0573%	4h	741.92	+0.050%	$759K	$334K	20x	as long as short