Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.015%

Price spread now: Lighter against OKX+0.012%7-day average −0.080% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$120.124% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 7 days−0.121%−$12 · spread now +0.012%, 7d avg −0.080%

Together, before fees−0.067%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.092% dearer against OKX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX QQQ-USDT-SWAP	743.20	0	get 0.0000% / 8h	2h 09m	$21.5M	$28.3M	50x
Short	Lighter QQQ	743.29	0.0032	get 0.0004% / 1h	9m 31s	$7.6M	$15.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.012%Rate

Funding earned: $6.72
Price spread: +0.012% → −0.080%: $9.2
Slippage, 4 orders: −$2.42
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $3.5
Costs to cover: 0.124%
Break-even: 3.4 days

Slippage from OKX: live order book, 4 min ago; Lighter: live order book, 4 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 OKX live order book, 4 min ago	0.07 bp	5.1 bp −$5	6.1 bp −$61	12.1 bp −$1,214	doesn't fit
Sell Lighter live order book, 4 min ago	0.34 bp	0.4 bp $0	1.1 bp −$11	17.6 bp −$1,761	59.3 bp −$29.7K

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 −0.0152% / S +0.0245%	1h	743.38	+0.025%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0020%	8h	742.85	−0.047%	$1.1M	$277K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.04	−0.022%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	743.44	+0.032%	$70.0M	$145.0M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	743.53	+0.044%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAPlong	0.0000%	8h	743.20	long leg	$21.5M	$28.3M	50x
RISEx QQQ/USDC	0.0000%	1h	743.38	+0.024%	$5.4M	$6.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.73	−0.063%	$3.3M	$21.4M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.55	+0.047%	$16.6M	$5.6M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	743.18	−0.002%	$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	743.92	+0.097%	$2K	$1.8M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.77	−0.058%	$1.2M	$541K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.33	+0.017%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.50	+0.040%	$361K	$1.6M	10x	as long as short
Ondo Perps QQQ-USD.P	+0.0001%	1h	742.06	−0.153%	$4.2M	$1.8M	20x	as long as short
Lighter QQQshort	+0.0032%	1h	743.29	+0.012%	$7.6M	$15.7M	30x
Lighter RH QQQ	+0.0032%	1h	743.63	+0.058%	$37.0M	$80.9M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.15	−0.141%	$689K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.28	+0.145%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0095%	8h	743.38	+0.024%	$316K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.04	−0.022%	$3.4M	$363K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.75	−0.061%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.01	−0.026%	$12K	$21K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0100%	1h	742.97	−0.031%	$424K	$152K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.46	−0.100%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0122%	1h	742.92	−0.038%	$1.5M	$748K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	742.54	−0.089%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0987%	4h	743.21	+0.001%	$760K	$334K	20x	as long as short