Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0474%/8h= −52.0% APRpaid last 24h +0.080%

Price spread now: Coinbase International against edgeX−0.048%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now −0.048%, 7d avg −0.045%

Together, before fees+0.269%+ Points / potential airdropedgeX: Active · farm board+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.045%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.178%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.178% in total (about 9.3% 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	743.47	0.0546	pay 0.0273% / 4h	12m 39s	$760K	$337K	20x
Short	Coinbase International QQQ-PERP-INTX	743.11	0.0072	get 0.0009% / 1h	12m 39s	$1.2M	$866K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$99.63
Price spread: −0.048% → −0.045%: −$0.29
Slippage, 4 orders: −$9.12
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$128.04
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from edgeX: live order book, 66 min ago; Coinbase International: live order book, 6 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, 66 min ago	4.11 bp	8.7 bp −$9	9.7 bp −$97	doesn't fit	doesn't fit
Sell Coinbase International live order book, 6 min ago	0.07 bp	5.1 bp −$5	7.0 bp −$70	39.9 bp −$3,988	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 −0.0077% / S +0.0187%	1h	743.50	+0.005%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0052%	1h	742.08	−0.187%	$4.2M	$2.1M	20x	as long as short
BloFin QQQ-USDT	−0.0002%	8h	743.09	−0.051%	$1.1M	$320K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.51	+0.005%	$845K	$784K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.44	−0.004%	$21.6M	$27.5M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.31	−0.021%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.02	+0.074%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.13	−0.046%	$257K	$25K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.97	+0.067%	$363K	$1.4M	10x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.74	+0.036%	$37.4M	$80.9M	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus QQQ-USD	+0.0040%	1h	742.88	−0.079%	$747K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.96	+0.066%	—	$621K	50x	as long as short
Variational Omni QQQ	+0.0046%	8h	743.47	0.000%	$17.6M	$10.3M	—	as long as short
Lighter QQQ	+0.0064%	1h	743.42	−0.007%	$7.6M	$20.9M	30x	as long as short
Coinbase International QQQ-PERP-INTXshort	+0.0072%	1h	743.11	−0.048%	$1.2M	$866K	20x
Binance QQQUSDT	+0.0076%	8h	743.59	+0.017%	$71.1M	$160.7M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.08	−0.052%	$3.4M	$415K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.07	−0.054%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.24	−0.031%	$12K	$21K	20x	as long as short
Bybit QQQUSDT	+0.0101%	8h	743.57	+0.014%	$10.7M	$5.1M	50x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.83	−0.087%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0173%	1h	743.13	−0.046%	$1.5M	$1.3M	20x	as long as short
Bitget QQQUSDT	+0.0180%	8h	743.60	+0.018%	$16.9M	$7.0M	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0181%	1h	743.26	−0.028%	$425K	$157K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0191%	8h	743.70	+0.031%	$323K	$1.8M	10x	as long as short
RISEx QQQ/USDC	+0.0193%	1h	743.59	+0.016%	$5.6M	$9.0M	25x	as long as short
Phoenix QQQ	+0.0194%	1h	743.06	−0.055%	$38K	$73K	20x	as long as short
edgeX QQQUSDClong	+0.0546%	4h	743.47	long leg	$760K	$337K	20x