Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0610%/8h= −66.7% APRpaid last 24h −0.074%

Price spread now: Bitget against edgeX+0.107%54s7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

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

Long on edgeX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.107%, 7d avg +0.048%

Together, before fees−0.095%+ Points / potential airdropedgeX: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.059% dearer against edgeX than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of +0.048%): +$6 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.014% in total) that is about 29 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX QQQUSDC	740.62	0.0610	pay 0.0305% / 4h	3h 16m	$757K	$336K	20x
Short	Bitget QQQUSDT	741.41	0	get 0.0000% / 8h	7h 16m	$16.5M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against edgeX. 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 edgeXbpFee BitgetbpOrdersPrice spread, now +0.107%Rate

Funding earned: −$128.01
Price spread: +0.107% → +0.048%: $5.92
Slippage, 4 orders: −$10.01
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$153.1
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from edgeX: live order book, 17 min ago; Bitget: live order book, 2 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 edgeX live order book, 17 min ago	4.12 bp	8.7 bp −$9	9.6 bp −$96	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.07 bp	6.6 bp −$7	8.9 bp −$89	15.4 bp −$1,538	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 −0.0188% / S +0.0273%	1h	741.16	+0.074%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	741.09	+0.064%	$856K	$903K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.12	+0.068%	$21.6M	$30.1M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	740.94	+0.043%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	740.67	+0.007%	$3.3M	$20.8M	50x	as long as short
Bitget QQQUSDTshort	0.0000%	8h	741.41	+0.107%	$16.5M	$5.1M	20x
SunX QQQ-USDT	0.0000%	8h	741.68	+0.143%	$2K	$1.6M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	741.42	+0.108%	$250K	$38K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	741.42	+0.108%	$362K	$1.6M	10x	as long as short
BloFin QQQ-USDT	+0.0002%	8h	740.91	+0.039%	$1.1M	$279K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QQQ	+0.0003%	8h	740.38	−0.032%	$16.7M	$7.2M	—	as long as short
Bybit QQQUSDT	+0.0010%	8h	741.48	+0.116%	$10.6M	$5.0M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0024%	1h	740.40	−0.029%	$1.2M	$502K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.07	+0.061%	$7.6M	$15.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.46	+0.114%	$37.7M	$80.5M	50x	as long as short
Binance QQQUSDT	+0.0037%	8h	741.26	+0.087%	$70.4M	$141.3M	25x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.51	−0.015%	$647K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.07	+0.196%	—	$337K	50x	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	739.35	−0.171%	$4.2M	$1.8M	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	740.79	+0.023%	$3.4M	$395K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	739.88	−0.100%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	740.90	+0.038%	$12K	$21K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0101%	1h	740.90	+0.038%	$423K	$128K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.24	−0.051%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0147%	1h	740.69	+0.010%	$1.6M	$748K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0213%	8h	740.89	+0.037%	$314K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0248%	1h	740.16	−0.062%	$38K	$65K	20x	as long as short
edgeX QQQUSDClong	+0.0610%	4h	740.62	long leg	$757K	$336K	20x