Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0227%/8h= +24.8% APRpaid last 24h +0.016%

Price spread now: Phoenix against OKX+0.003%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 Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX QQQ-USDT-SWAP	741.49	0	get 0.0000% / 8h	33m 14s	$21.4M	$28.4M	50x
Short	Phoenix QQQ	741.51	0.0227	get 0.0028% / 1h	33m 14s	$38K	$65K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.003%Rate

Funding earned: $47.57
Price spread: +0.003% → 0.000%: $0.27
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $30.84
Costs to cover: 0.170%
Break-even: 2.5 days

Slippage unknown: OKX: live order book, 5 min ago; Phoenix: 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, 5 min ago	0.07 bp	5.1 bp −$5	5.9 bp −$59	13.9 bp −$1,387	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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
Ondo Perps QQQ-USD.P	−0.0175%	1h	740.56	−0.125%	$4.2M	$1.8M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0172% / S +0.0261%	1h	741.76	+0.037%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0075%	8h	741.39	−0.013%	$3.3M	$21.6M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.77	+0.037%	$821K	$861K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.78	+0.039%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAPlong	0.0000%	8h	741.49	long leg	$21.4M	$28.4M	50x
RISEx QQQ/USDC	0.0000%	1h	741.58	+0.013%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.90	+0.055%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.73	+0.032%	$16.8M	$7.2M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.56	+0.144%	$2K	$1.8M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDT	0.0000%	8h	742.04	+0.074%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.01	+0.070%	$361K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0011%	8h	741.76	+0.036%	$70.2M	$142.0M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.51	+0.003%	$1.2M	$491K	20x	as long as short
BloFin QQQ-USDT	+0.0024%	8h	741.52	+0.004%	$1.1M	$274K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.48	−0.001%	$7.7M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.85	+0.049%	$37.3M	$80.2M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.24	−0.034%	$644K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.71	+0.165%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.35	−0.019%	$3.4M	$360K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.49	0.000%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.46	−0.004%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.01	−0.065%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0121%	1h	741.34	−0.020%	$1.6M	$763K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0130%	8h	742.08	+0.080%	$325K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0222%	1h	741.52	+0.004%	$424K	$156K	20x	as long as short
Phoenix QQQshort	+0.0227%	1h	741.51	+0.003%	$38K	$65K	20x
edgeX QQQUSDC	+0.0600%	4h	741.80	+0.042%	$758K	$335K	20x	as long as short