Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.040%

Price spread now: Bitget against Phemex−0.054%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$800.797% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.054%, 7d avg −0.003%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.051% cheaper against Phemex than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex QQQUSDT	743.09	0	get 0.0000% / 8h	2h 44m	$360K	$1.6M	10x
Short	Bitget QQQUSDT	742.69	0	get 0.0000% / 8h	2h 44m	$16.6M	$5.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0
Price spread: −0.054% → −0.003%: −$5.11
Slippage, 4 orders: −$55.73
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$84.85
Costs to cover: 0.797%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Bitget: 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 Phemex live order book, 3 min ago	3.03 bp	35.9 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.07 bp	6.3 bp −$6	8.6 bp −$86	13.6 bp −$1,364	doesn't fit

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 −0.0145% / S +0.0240%	1h	742.63	−0.063%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0021%	8h	742.35	−0.100%	$1.1M	$246K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.55	−0.073%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.57	−0.070%	$69.9M	$142.9M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	742.65	−0.059%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.32	−0.104%	$21.6M	$27.8M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.61	−0.064%	$5.4M	$7.1M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.91	−0.159%	$3.3M	$21.3M	50x	as long as short
Bitget QQQUSDTshort	0.0000%	8h	742.69	−0.054%	$16.6M	$5.7M	20x
Variational Omni QQQ	0.0000%	8h	742.44	−0.088%	$17.0M	$7.2M	—	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	743.09	0.000%	$2K	$1.9M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.10	−0.133%	$1.2M	$538K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.85	−0.032%	$252K	$38K	30x	as long as short
Phemex QQQUSDTlong	0.0000%	8h	743.09	long leg	$360K	$1.6M	10x
Ondo Perps QQQ-USD.P	+0.0006%	1h	741.73	−0.183%	$4.2M	$1.8M	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.47	−0.083%	$7.7M	$15.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.82	−0.036%	$36.9M	$78.4M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.72	−0.184%	$702K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.54	+0.061%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0078%	8h	742.73	−0.048%	$319K	$1.9M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.22	−0.117%	$3.4M	$350K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.16	−0.125%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.28	−0.109%	$12K	$21K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0100%	1h	742.42	−0.090%	$424K	$151K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.77	−0.178%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0121%	1h	742.21	−0.119%	$1.5M	$761K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	742.06	−0.139%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0297%	4h	742.49	−0.081%	$759K	$336K	20x	as long as short