Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.013%

Price spread now: Deribit against Orderly+0.005%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Deribit

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—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: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_QQQ_USDC_mythos	741.69	0.0100	pay 0.0100% / 8h	6h 15m	$12K	$21K	20x
Short	Deribit QQQ_USDC-PERPETUAL	741.73	0.0060	get 0.0008% / 1h	15m 17s	$424K	$125K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$8.36
Price spread: +0.005% → 0.000%: $0.54
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$20.82
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 36 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 36 min ago	0.07 bp	4.9 bp −$5	7.5 bp −$75	doesn't fit	doesn't fit

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 exchanges

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 −0.0200% / S +0.0283%	1h	742.03	+0.047%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0109%	1h	740.49	−0.162%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0029%	8h	741.65	−0.005%	$1.1M	$227K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.01	+0.043%	$857K	$902K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.80	+0.015%	$21.7M	$29.7M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.80	+0.015%	$5.4M	$5.8M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.55	−0.019%	$3.5M	$20.3M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.84	+0.020%	$16.7M	$5.4M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.59	+0.121%	$2K	$1.5M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	741.83	+0.019%	$251K	$38K	30x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDT	0.0000%	8h	742.53	+0.113%	$363K	$1.6M	10x	as long as short
Variational Omni QQQ	+0.0028%	8h	741.87	+0.024%	$16.8M	$7.2M	—	as long as short
Lighter QQQ	+0.0032%	1h	741.77	+0.011%	$7.5M	$15.0M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.21	+0.070%	$38.4M	$78.2M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	741.31	−0.051%	$1.2M	$528K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.18	−0.069%	$650K	$1.4M	25x	as long as short
Bybit QQQUSDT	+0.0044%	8h	742.19	+0.067%	$10.6M	$4.9M	50x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.97	+0.173%	—	$337K	50x	as long as short
Binance QQQUSDT	+0.0054%	8h	742.09	+0.054%	$71.1M	$141.2M	25x	as long as short
Deribit QQQ_USDC-PERPETUALshort	+0.0060%	1h	741.73	+0.005%	$424K	$125K	20x
KuCoin QQQUSDTM	+0.0100%	8h	741.60	−0.012%	$3.4M	$447K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.32	−0.050%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythoslong	+0.0100%	8h	741.69	long leg	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	741.22	−0.063%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0116%	1h	741.63	−0.007%	$1.6M	$795K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0194%	8h	741.91	+0.030%	$321K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0280%	1h	741.34	−0.047%	$38K	$59K	20x	as long as short
edgeX QQQUSDC	+0.0298%	4h	741.68	−0.001%	$758K	$337K	20x	as long as short