Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0273%/8h= +29.9% APRpaid last 24h +0.061%

Price spread now: Orderly against Ondo Perps+0.178%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Orderly is 0.178% dearer against Ondo Perps than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps QQQ-USD.P	740.14	−0.0173	get 0.0022% / 1h	32m 40s	$4.2M	$1.8M	20x
Short	Orderly PERP_QQQ_USDC_mythos	741.46	0.0100	get 0.0100% / 8h	32m 40s	$12K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Ondo Perps. 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 Ondo PerpsbpFee OrderlybpOrdersPrice spread, now +0.178%Rate

Funding earned: $57.29
Price spread: +0.178% → 0.000%: $17.83
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $64.12
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Orderly: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Ondo Perps and Orderly: 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.Plong	−0.0173%	1h	740.14	long leg	$4.2M	$1.8M	20x
GMX QQQ/USD [ETH-USDC]	L −0.0172% / S +0.0261%	1h	741.76	+0.220%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0074%	8h	741.40	+0.170%	$3.3M	$21.6M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.80	+0.224%	$821K	$861K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.74	+0.216%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.50	+0.184%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.51	+0.186%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.90	+0.238%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.73	+0.215%	$16.8M	$7.2M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.56	+0.327%	$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	+0.257%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.01	+0.253%	$361K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0012%	8h	741.81	+0.226%	$70.2M	$142.0M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.51	+0.185%	$1.2M	$491K	20x	as long as short
BloFin QQQ-USDT	+0.0024%	8h	741.52	+0.186%	$1.1M	$274K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.56	+0.192%	$7.7M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.84	+0.230%	$37.3M	$80.2M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.20	+0.143%	$644K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.71	+0.347%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.36	+0.165%	$3.4M	$360K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.49	+0.182%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	741.46	+0.178%	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	741.01	+0.118%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0121%	1h	741.34	+0.163%	$1.6M	$763K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0130%	8h	742.08	+0.262%	$325K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0222%	1h	741.52	+0.186%	$424K	$156K	20x	as long as short
Phoenix QQQ	+0.0227%	1h	741.51	+0.185%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0600%	4h	741.80	+0.224%	$758K	$335K	20x	as long as short