Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0306%/8h= −33.5% APRpaid last 24h −0.052%

Price spread now: GMX against KuCoin+0.037%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on GMX

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

The price spread pays, funding is against you. GMX is 0.037% dearer against KuCoin than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin QQQUSDTM	744.09	0.0100	pay 0.0100% / 8h	6h 12m	$3.4M	$412K	20x
Short	GMX QQQ/USD [ETH-USDC]	744.37	L −0.0102% / S +0.0206%	pay 0.0026% / 1h	12m 49s	$25K	—	26x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$64.27
Price spread: +0.037% → 0.000%: $3.7
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$84.57
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; GMX: 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 KuCoin live order book, 5 min ago	0.07 bp	7.0 bp −$7	80.0 bp −$800	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 27 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]short	L −0.0102% / S +0.0206%	1h	744.37	+0.037%	$25K	—	26x
Ondo Perps QQQ-USD.P	−0.0086%	1h	743.56	−0.071%	$4.2M	$1.9M	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.52	+0.058%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.32	+0.031%	$21.7M	$26.5M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	744.09	0.000%	$3.3M	$23.4M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	745.01	+0.124%	$2K	$2.1M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	743.98	−0.015%	$425K	$148K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.57	+0.065%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.64	+0.074%	$361K	$1.4M	10x	as long as short
Aster QQQUSDT	+0.0005%	8h	744.34	+0.033%	$841K	$712K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget QQQUSDT	+0.0023%	8h	744.51	+0.056%	$16.9M	$5.8M	20x	as long as short
Lighter QQQ	+0.0032%	1h	744.14	+0.007%	$7.7M	$17.8M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.57	+0.065%	$37.4M	$80.3M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.65	−0.059%	$705K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.34	+0.168%	—	$337K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	744.08	−0.001%	$1.2M	$538K	20x	as long as short
Variational Omni QQQ	+0.0056%	8h	744.43	+0.045%	$17.1M	$7.6M	—	as long as short
Binance QQQUSDT	+0.0082%	8h	744.37	+0.038%	$71.0M	$147.3M	25x	as long as short
KuCoin QQQUSDTMlong	+0.0100%	8h	744.09	long leg	$3.4M	$412K	20x
ApeX Omni QQQUSDT	+0.0100%	1h	744.12	+0.004%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.11	+0.003%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.60	−0.066%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0123%	1h	744.14	+0.006%	$1.5M	$952K	20x	as long as short
RISEx QQQ/USDC	+0.0168%	1h	744.52	+0.058%	$5.4M	$8.0M	25x	as long as short
Phoenix QQQ	+0.0183%	1h	744.18	+0.012%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0192%	8h	744.72	+0.085%	$322K	$1.9M	10x	as long as short
edgeX QQQUSDC	+0.0657%	4h	744.44	+0.047%	$761K	$336K	20x	as long as short