Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0246%/8h= −26.9% APRpaid last 24h −0.033%

Price spread now: GMX against OKX+0.024%7-day average — · you sell dearer than you buy

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

Long on OKX 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 0.024% dearer against OKX than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX QQQ-USDT-SWAP	743.03	0	get 0.0000% / 8h	2h 07m	$21.5M	$28.3M	50x
Short	GMX QQQ/USD [ETH-USDC]	743.21	L −0.0152% / S +0.0246%	pay 0.0031% / 1h	7m 53s	$25K	—	26x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$51.59
Price spread: +0.024% → 0.000%: $2.36
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$71.23
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago	0.07 bp	5.1 bp −$5	5.6 bp −$56	12.6 bp −$1,257	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 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]short	L −0.0152% / S +0.0246%	1h	743.21	+0.024%	$25K	—	26x
Ondo Perps QQQ-USD.P	−0.0004%	1h	741.94	−0.147%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0004%	8h	742.84	−0.026%	$1.1M	$278K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.79	−0.032%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	743.18	+0.020%	$70.0M	$145.1M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	743.21	+0.024%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAPlong	0.0000%	8h	743.03	long leg	$21.5M	$28.3M	50x
RISEx QQQ/USDC	0.0000%	1h	743.20	+0.023%	$5.4M	$6.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.48	−0.074%	$3.3M	$21.4M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.30	+0.036%	$16.6M	$5.6M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QQQ	0.0000%	8h	743.18	+0.021%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	743.64	+0.082%	$2K	$1.8M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.77	−0.035%	$1.2M	$541K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.39	+0.048%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.54	+0.069%	$360K	$1.6M	10x	as long as short
Lighter QQQ	+0.0032%	1h	742.99	−0.005%	$7.6M	$15.8M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.33	+0.040%	$37.0M	$81.0M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.18	−0.114%	$689K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.11	+0.145%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0095%	8h	743.38	+0.047%	$316K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.79	−0.032%	$3.4M	$364K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.75	−0.038%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.91	−0.016%	$12K	$21K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0100%	1h	742.97	−0.008%	$424K	$152K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.40	−0.085%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0121%	1h	742.93	−0.013%	$1.5M	$749K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	742.54	−0.066%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0987%	4h	743.21	+0.024%	$760K	$334K	20x	as long as short