Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against Phemex−0.148%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.175%+$18 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.148% cheaper against Phemex than usual: you would sell low and buy high (spread −0.148% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 4.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex QQQUSDT	743.40	0	get 0.0000% / 8h	5h 43m	$362K	$1.6M	10x
Short	Aevo QQQ-PERP	742.30	0.0104	get 0.0013% / 1h	43m 45s	$92K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.148%Rate

Funding earned: $21.84
Price spread: −0.148% → 0.000%: −$14.8
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$20.96
Costs to cover: 0.280%
Break-even: 13.7 days

Slippage unknown: Phemex: live order book, 2 min ago; Aevo: 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 Phemex live order book, 2 min ago	3.03 bp	34.3 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 −0.0203% / S +0.0285%	1h	743.09	−0.042%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0129%	1h	740.96	−0.328%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.11	−0.039%	$856K	$903K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.89	−0.069%	$21.7M	$30.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.87	−0.072%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.61	−0.106%	$3.5M	$19.8M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.03	−0.050%	$17.0M	$5.9M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.62	+0.030%	$2K	$1.5M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	742.68	−0.097%	$398K	$108K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.27	−0.017%	$247K	$45K	30x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDTlong	0.0000%	8h	743.40	long leg	$362K	$1.6M	10x
BloFin QQQ-USDT	+0.0016%	8h	742.87	−0.071%	$1.1M	$237K	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.52	−0.118%	$7.3M	$15.7M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.13	−0.036%	$38.7M	$77.1M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	742.87	−0.071%	$1.2M	$541K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.93	−0.198%	$659K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.86	+0.062%	—	$337K	50x	as long as short
Variational Omni QQQ	+0.0052%	8h	742.97	−0.058%	$16.8M	$6.9M	—	as long as short
Bybit QQQUSDT	+0.0068%	8h	743.09	−0.042%	$10.5M	$4.8M	50x	as long as short
Binance QQQUSDT	+0.0077%	8h	743.15	−0.034%	$71.6M	$145.9M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.72	−0.091%	$3.4M	$470K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.82	−0.078%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.84	−0.075%	$12K	$21K	20x	as long as short
Aevo QQQ-PERPshort	+0.0104%	1h	742.30	−0.148%	$92K	$1K	10x
Nado QQQ-PERP	+0.0134%	1h	742.50	−0.121%	$1.6M	$770K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0250%	8h	743.56	+0.022%	$318K	$2.1M	10x	as long as short
Phoenix QQQ	+0.0302%	1h	742.33	−0.144%	$38K	$59K	20x	as long as short
edgeX QQQUSDC	+0.0715%	4h	743.15	−0.033%	$760K	$336K	20x	as long as short