Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h +0.017%

Price spread now: KuCoin against Deribit−0.015%7-day average +0.018% · 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−$34as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.033%+$3 on $10k

Price spread, last 3 days (all we have)+0.036%+$4 · spread now −0.015%, 7d avg +0.018%

Together, before fees+0.069%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and KuCoin is 0.032% cheaper against Deribit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit QQQ_USDC-PERPETUAL	744.49	0.0113	pay 0.0014% / 1h	58m 54s	$425K	$147K	20x
Short	KuCoin QQQUSDTM	744.38	0.0100	get 0.0100% / 8h	6h 58m	$3.4M	$410K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$2.69
Price spread: −0.015% → +0.018%: −$3.23
Slippage, 4 orders: −$11.99
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$36.91
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Deribit: live order book, 10 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 Deribit live order book, 10 min ago	0.07 bp	3.6 bp −$4	3.8 bp −$38	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.41 bp	12.0 bp −$12	120.7 bp −$1,207	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	−0.0293%	1h	743.10	−0.187%	$4.2M	$2.0M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0092% / S +0.0199%	1h	744.75	+0.034%	$25K	—	26x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.44	−0.007%	$21.5M	$25.3M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	744.32	−0.023%	$3.2M	$19.9M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	745.21	+0.097%	$2K	$2.1M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.94	+0.060%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	745.09	+0.081%	$359K	$1.4M	10x	as long as short
BloFin QQQ-USDT	+0.0019%	8h	744.38	−0.015%	$1.1M	$320K	20x	as long as short
Aster QQQUSDT	+0.0023%	8h	744.66	+0.023%	$841K	$713K	20x	as long as short
Bybit QQQUSDT	+0.0025%	8h	744.74	+0.034%	$10.7M	$5.0M	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QQQ	+0.0032%	1h	744.39	−0.013%	$7.7M	$17.6M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.83	+0.046%	$37.4M	$78.5M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.79	−0.094%	$748K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.30	+0.109%	—	$306K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	744.09	−0.054%	$1.2M	$545K	20x	as long as short
Variational Omni QQQ	+0.0072%	8h	744.60	+0.015%	$17.1M	$7.6M	—	as long as short
Nado QQQ-PERP	+0.0098%	1h	744.41	−0.011%	$1.5M	$1.1M	20x	as long as short
Binance QQQUSDT	+0.0100%	8h	744.67	+0.024%	$71.3M	$149.2M	25x	as long as short
KuCoin QQQUSDTMshort	+0.0100%	8h	744.38	−0.015%	$3.4M	$410K	20x
ApeX Omni QQQUSDT	+0.0100%	1h	744.13	−0.048%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.51	+0.003%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	744.09	−0.053%	$93K	$1K	10x	as long as short
Deribit QQQ_USDC-PERPETUALlong	+0.0113%	1h	744.49	long leg	$425K	$147K	20x
Bitget QQQUSDT	+0.0143%	8h	744.71	+0.030%	$16.9M	$6.1M	20x	as long as short
RISEx QQQ/USDC	+0.0168%	1h	744.80	+0.042%	$5.4M	$8.2M	25x	as long as short
edgeX QQQUSDC	+0.0216%	4h	744.53	+0.005%	$761K	$337K	20x	as long as short
Phoenix QQQ	+0.0258%	1h	744.24	−0.034%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0371%	8h	744.88	+0.053%	$318K	$1.8M	10x	as long as short