Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.020%

Price spread now: Orderly against Coinbase International+0.012%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International QQQ-PERP-INTX	743.74	0.0032	pay 0.0004% / 1h	47m 57s	$1.2M	$534K	20x
Short	Orderly PERP_QQQ_USDC_mythos	743.83	0.0100	get 0.0100% / 8h	5h 47m	$12K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.012%Rate

Funding earned: $14.28
Price spread: +0.012% → 0.000%: $1.21
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$0.51
Costs to cover: 0.160%
Break-even: 7.2 days

Slippage unknown: Coinbase International: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

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, 1 min ago	0.34 bp	6.6 bp −$7	8.6 bp −$86	40.9 bp −$4,088	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

QQQ on 27 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 −0.0107% / S +0.0210%	1h	744.13	+0.053%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	744.12	+0.052%	$841K	$713K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.21	+0.063%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.03	+0.039%	$21.7M	$26.3M	50x	as long as short
Ondo Perps QQQ-USD.P	0.0000%	1h	743.10	−0.086%	$4.2M	$1.9M	20x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.16	+0.057%	$5.4M	$7.5M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.76	+0.003%	$3.3M	$20.6M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.45	+0.095%	$16.9M	$5.8M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.58	+0.113%	$2K	$2.0M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.24	+0.067%	$257K	$29K	30x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDT	0.0000%	8h	744.43	+0.093%	$361K	$1.4M	10x	as long as short
edgeX QQQUSDC	+0.0005%	4h	744.28	+0.073%	$761K	$334K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0019%	1h	743.81	+0.009%	$425K	$149K	20x	as long as short
Lighter QQQ	+0.0032%	1h	743.90	+0.022%	$7.7M	$17.1M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.31	+0.077%	$37.3M	$78.6M	50x	as long as short
Coinbase International QQQ-PERP-INTXlong	+0.0032%	1h	743.74	long leg	$1.2M	$534K	20x
Arcus QQQ-USD	+0.0040%	1h	743.36	−0.051%	$705K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.08	+0.180%	—	$337K	50x	as long as short
Variational Omni QQQ	+0.0049%	8h	744.19	+0.060%	$17.1M	$7.5M	—	as long as short
Binance QQQUSDT	+0.0073%	8h	744.13	+0.052%	$71.1M	$144.4M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.85	+0.015%	$3.4M	$413K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.99	+0.034%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	743.83	+0.012%	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	743.34	−0.054%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0116%	1h	743.70	−0.006%	$1.5M	$923K	20x	as long as short
Phoenix QQQ	+0.0161%	1h	743.80	+0.008%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0165%	8h	744.45	+0.095%	$322K	$1.9M	10x	as long as short