Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.018%

Price spread now: KuCoin against Lighter RH−0.080%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 7 days−0.067%−$7 · spread now −0.080%, 7d avg −0.042%

Together, before fees+0.016%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.038% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of −0.042%). If the spread goes back, that is −$4 on $10k: about 44 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH QQQ	742.12	0.0032	pay 0.0004% / 1h	24m 01s	$37.0M	$80.6M	50x
Short	KuCoin QQQUSDTM	741.53	0.0100	get 0.0100% / 8h	1h 24m	$3.4M	$353K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter RH. 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 Lighter RHbpFee KuCoinbpOrdersPrice spread, now −0.080%Rate

Funding earned: $14.28
Price spread: −0.080% → −0.042%: −$3.76
Slippage, 4 orders: −$11.38
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$12.86
Costs to cover: 0.234%
Break-even: 13.3 days

Slippage from Lighter RH: live order book, 5 min ago; KuCoin: live order book, 3 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 Lighter RH live order book, 5 min ago	0.27 bp	0.5 bp −$1	1.2 bp −$12	9.4 bp −$944	doesn't fit
Sell KuCoin live order book, 3 min ago	1.48 bp	13.5 bp −$14	119.8 bp −$1,198	doesn't fit	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 −0.0161% / S +0.0253%	1h	741.98	−0.020%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0029%	8h	741.35	−0.104%	$3.3M	$21.5M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.95	−0.023%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.96	−0.022%	$10.5M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.85	−0.036%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.68	−0.059%	$5.5M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.08	−0.005%	$16.6M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.98	−0.020%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.77	+0.088%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.14	+0.003%	$251K	$41K	30x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDT	0.0000%	8h	742.22	+0.013%	$365K	$1.6M	10x	as long as short
Ondo Perps QQQ-USD.P	+0.0001%	1h	740.66	−0.197%	$4.2M	$1.8M	20x	as long as short
Binance QQQUSDT	+0.0003%	8h	742.01	−0.014%	$70.0M	$144.5M	25x	as long as short
BloFin QQQ-USDT	+0.0004%	8h	741.75	−0.050%	$1.1M	$271K	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.55	−0.077%	$1.2M	$550K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.73	−0.053%	$7.7M	$15.5M	30x	as long as short
Lighter RH QQQlong	+0.0032%	1h	742.12	long leg	$37.0M	$80.6M	50x
Arcus QQQ-USD	+0.0040%	1h	741.15	−0.131%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.90	+0.105%	—	$337K	50x	as long as short
KuCoin QQQUSDTMshort	+0.0100%	8h	741.53	−0.080%	$3.4M	$353K	20x
ApeX Omni QQQUSDT	+0.0100%	1h	741.57	−0.074%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.63	−0.066%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.22	−0.122%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0116%	8h	742.17	+0.007%	$322K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0131%	1h	741.48	−0.087%	$1.5M	$764K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.63	−0.066%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0209%	1h	741.71	−0.055%	$424K	$154K	20x	as long as short
edgeX QQQUSDC	+0.0573%	4h	741.92	−0.027%	$759K	$334K	20x	as long as short