Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.013%

Price spread now: Orderly against Deribit−0.003%7-day average — · you buy dearer than you sell

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

Long on Deribit 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit QQQ_USDC-PERPETUAL	741.69	0.0101	pay 0.0013% / 1h	15m 41s	$424K	$125K	20x
Short	Orderly PERP_QQQ_USDC_mythos	741.67	0.0100	get 0.0100% / 8h	6h 15m	$12K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.003%Rate

Funding earned: −$0.14
Price spread: −0.003% → 0.000%: −$0.27
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$13.41
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 36 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 Deribit live order book, 36 min ago	0.07 bp	3.6 bp −$4	4.8 bp −$48	doesn't fit	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 28 exchanges

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 −0.0200% / S +0.0283%	1h	742.03	+0.047%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0109%	1h	740.49	−0.162%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.98	+0.039%	$857K	$902K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.80	+0.015%	$21.7M	$29.7M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.71	+0.003%	$5.4M	$5.8M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.61	−0.011%	$3.5M	$20.3M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.84	+0.020%	$16.7M	$5.4M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.26	+0.077%	$2K	$1.5M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	741.83	+0.019%	$251K	$38K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.29	+0.081%	$362K	$1.6M	10x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin QQQ-USDT	+0.0017%	8h	741.53	−0.022%	$1.1M	$227K	20x	as long as short
Variational Omni QQQ	+0.0028%	8h	741.87	+0.024%	$16.8M	$7.2M	—	as long as short
Lighter QQQ	+0.0032%	1h	741.70	+0.001%	$7.5M	$15.0M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.18	+0.066%	$38.4M	$78.2M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	741.31	−0.051%	$1.2M	$528K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.11	−0.078%	$648K	$1.4M	25x	as long as short
Bybit QQQUSDT	+0.0044%	8h	742.14	+0.061%	$10.6M	$4.9M	50x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.87	+0.159%	—	$337K	50x	as long as short
Binance QQQUSDT	+0.0054%	8h	742.03	+0.045%	$71.1M	$141.2M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.56	−0.018%	$3.4M	$447K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.16	−0.071%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	741.67	−0.003%	$12K	$21K	20x
Deribit QQQ_USDC-PERPETUALlong	+0.0101%	1h	741.69	long leg	$424K	$125K	20x
Aevo QQQ-PERP	+0.0104%	1h	741.13	−0.075%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0116%	1h	741.44	−0.034%	$1.6M	$795K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0193%	8h	741.90	+0.028%	$321K	$2.0M	10x	as long as short
edgeX QQQUSDC	+0.0276%	4h	741.57	−0.017%	$758K	$336K	20x	as long as short
Phoenix QQQ	+0.0280%	1h	741.34	−0.047%	$38K	$59K	20x	as long as short