Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0192%/8h= −21.0% APRpaid last 24h +0.022%

Price spread now: Bybit against edgeX+0.011%91s7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as 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−$320.324% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.002%$0 · spread now +0.011%, 7d avg +0.036%

Together, before fees+0.015%+ Points / potential airdropedgeX: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.025% cheaper against edgeX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.036%). Swap the legs. The two prices were read 91 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 0.013% 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	744.53	0.0216	pay 0.0108% / 4h	2h 57m	$761K	$337K	20x
Short	Bybit QQQUSDT	744.61	0.0024	get 0.0024% / 8h	6h 57m	$10.7M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$40.32
Price spread: +0.011% → +0.036%: −$2.48
Slippage, 4 orders: −$12.4
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$75.19
Costs to cover: 0.324%
Break-even: never at this rate

Slippage from edgeX: live order book, 11 min ago; Bybit: live order book, 5 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, 11 min ago	4.16 bp	8.7 bp −$9	9.7 bp −$97	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.07 bp	7.0 bp −$7	8.5 bp −$85	59.2 bp −$5,916	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	−0.0278%	1h	743.10	−0.192%	$4.2M	$2.0M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0092% / S +0.0199%	1h	744.63	+0.013%	$25K	—	26x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.28	−0.033%	$21.5M	$25.3M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	744.29	−0.032%	$3.2M	$19.9M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	745.08	+0.074%	$2K	$2.1M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.94	+0.056%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.71	+0.025%	$359K	$1.4M	10x	as long as short
BloFin QQQ-USDT	+0.0019%	8h	744.38	−0.020%	$1.1M	$320K	20x	as long as short
Aster QQQUSDT	+0.0023%	8h	744.66	+0.018%	$841K	$713K	20x	as long as short
Bybit QQQUSDTshort	+0.0024%	8h	744.61	+0.011%	$10.7M	$5.0M	50x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QQQ	+0.0032%	1h	744.33	−0.026%	$7.7M	$17.6M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.63	+0.014%	$37.4M	$78.5M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.77	−0.102%	$748K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.23	+0.095%	—	$309K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	744.05	−0.064%	$1.2M	$545K	20x	as long as short
Variational Omni QQQ	+0.0072%	8h	744.60	+0.011%	$17.1M	$7.6M	—	as long as short
Nado QQQ-PERP	+0.0075%	1h	744.32	−0.028%	$1.5M	$1.1M	20x	as long as short
Binance QQQUSDT	+0.0099%	8h	744.57	+0.006%	$71.3M	$148.7M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	744.32	−0.028%	$3.4M	$409K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	744.13	−0.053%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.43	−0.013%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.92	−0.081%	$93K	$1K	10x	as long as short
Bitget QQQUSDT	+0.0141%	8h	744.61	+0.011%	$16.9M	$6.1M	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0153%	1h	744.42	−0.014%	$425K	$147K	20x	as long as short
RISEx QQQ/USDC	+0.0168%	1h	744.71	+0.025%	$5.4M	$8.2M	25x	as long as short
edgeX QQQUSDClong	+0.0216%	4h	744.53	long leg	$761K	$337K	20x
Phoenix QQQ	+0.0258%	1h	744.24	−0.038%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0371%	8h	744.88	+0.048%	$318K	$1.8M	10x	as long as short