Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0775%/8h= −84.9% APRpaid last 24h −0.096%

Price spread now: Ondo Perps against edgeX−0.167%7-day average −0.177% · you buy dearer than you sell

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

Long on edgeX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.167%, 7d avg −0.177%

Together, before fees−0.321%+ Points / potential airdropedgeX: Active · Ondo Perps: Active · farm board−$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.177%, so right now this pair is about funding alone: −$23 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.330% in total (about -17.2% 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	741.80	0.0600	pay 0.0300% / 4h	33m 00s	$758K	$335K	20x
Short	Ondo Perps QQQ-USD.P	740.56	−0.0175	pay 0.0022% / 1h	33m 00s	$4.2M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.167%Rate

Funding earned: −$162.85
Price spread: −0.167% → −0.177%: $1.01
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$175.84
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 6 min ago; Ondo Perps: 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 edgeX live order book, 6 min ago	4.11 bp	8.7 bp −$9	9.7 bp −$97	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 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.Pshort	−0.0175%	1h	740.56	−0.167%	$4.2M	$1.8M	20x
GMX QQQ/USD [ETH-USDC]	L −0.0172% / S +0.0261%	1h	741.76	−0.005%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0075%	8h	741.39	−0.055%	$3.3M	$21.6M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.75	−0.006%	$821K	$861K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.78	−0.003%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.49	−0.042%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.58	−0.029%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.90	+0.013%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.73	−0.010%	$16.8M	$7.2M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.56	+0.102%	$2K	$1.8M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDT	0.0000%	8h	742.04	+0.032%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.01	+0.028%	$361K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0011%	8h	741.76	−0.006%	$70.2M	$142.0M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.51	−0.039%	$1.2M	$491K	20x	as long as short
BloFin QQQ-USDT	+0.0024%	8h	741.52	−0.038%	$1.1M	$274K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.48	−0.043%	$7.7M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.85	+0.007%	$37.3M	$80.2M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.24	−0.076%	$644K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.71	+0.122%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.35	−0.061%	$3.4M	$360K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.49	−0.042%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.46	−0.046%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.01	−0.107%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0121%	1h	741.34	−0.062%	$1.6M	$763K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0130%	8h	742.08	+0.038%	$325K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0222%	1h	741.52	−0.038%	$424K	$156K	20x	as long as short
Phoenix QQQ	+0.0227%	1h	741.51	−0.039%	$38K	$65K	20x	as long as short
edgeX QQQUSDClong	+0.0600%	4h	741.80	long leg	$758K	$335K	20x