Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0149%/8h= +16.3% APRpaid last 24h +0.032%

Price spread now: BloFin against GMX−0.068%7-day average — · you buy dearer than you sell

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. BloFin is 0.068% cheaper against GMX than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 37 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX QQQ/USD [ETH-USDC]	743.35	L −0.0152% / S +0.0246%	get 0.0019% / 1h	9m 07s	$25K	—	26x
Short	BloFin QQQ-USDT	742.84	−0.0004	pay 0.0004% / 8h	2h 09m	$1.1M	$278K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against GMX. 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 GMXbpFee BloFinbpOrdersPrice spread, now −0.068%Rate

Funding earned: $31.2
Price spread: −0.068% → 0.000%: −$6.79
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $0.41
Costs to cover: 0.240%
Break-even: 6.9 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 3 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 3 min ago	0.07 bp	6.1 bp −$6	7.2 bp −$72	11.1 bp −$1,112	doesn't fit

GMX: 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
GMX QQQ/USD [ETH-USDC]long	L −0.0152% / S +0.0246%	1h	743.35	long leg	$25K	—	26x
BloFin QQQ-USDTshort	−0.0004%	8h	742.84	−0.068%	$1.1M	$278K	20x
Aster QQQUSDT	0.0000%	8h	742.88	−0.063%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	743.15	−0.026%	$70.0M	$145.0M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	743.22	−0.017%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.10	−0.033%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	743.38	+0.004%	$5.4M	$6.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.64	−0.095%	$3.3M	$21.4M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.39	+0.006%	$16.6M	$5.6M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	743.18	−0.022%	$16.9M	$7.3M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	743.76	+0.056%	$2K	$1.8M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.77	−0.077%	$1.2M	$541K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.39	+0.006%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.65	+0.041%	$360K	$1.6M	10x	as long as short
Ondo Perps QQQ-USD.P	+0.0001%	1h	742.06	−0.173%	$4.2M	$1.8M	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.96	−0.052%	$7.6M	$15.7M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.34	−0.001%	$36.9M	$80.9M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.15	−0.161%	$689K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.28	+0.126%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0095%	8h	743.38	+0.005%	$316K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.92	−0.057%	$3.4M	$363K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.75	−0.080%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.04	−0.041%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.59	−0.102%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0122%	1h	742.92	−0.057%	$1.5M	$748K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	742.54	−0.108%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0140%	1h	743.08	−0.036%	$424K	$152K	20x	as long as short
edgeX QQQUSDC	+0.0987%	4h	743.21	−0.019%	$760K	$334K	20x	as long as short