Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0285%/8h= −31.2% APRpaid last 24h −0.012%

Price spread now: BloFin against Phoenix+0.024%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.309%−$31 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. BloFin is 0.024% dearer against Phoenix than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix QQQ	742.55	0.0280	pay 0.0035% / 1h	4m 34s	$38K	$59K	20x
Short	BloFin QQQ-USDT	742.73	−0.0004	pay 0.0004% / 8h	6h 04m	$1.1M	$229K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Phoenix. 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 PhoenixbpFee BloFinbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$59.79
Price spread: +0.024% → 0.000%: $2.42
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$76.36
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; BloFin: live order book, 1 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 Phoenix no order-book sample	—	—	—	—	—
Sell BloFin live order book, 1 min ago	0.07 bp	6.5 bp −$7	8.2 bp −$82	13.0 bp −$1,299	doesn't fit

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 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	742.76	+0.029%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0112%	1h	742.30	−0.034%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDTshort	−0.0004%	8h	742.73	+0.024%	$1.1M	$229K	20x
Aster QQQUSDT	0.0000%	8h	742.98	+0.058%	$858K	$900K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.72	+0.023%	$21.8M	$30.1M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.72	+0.023%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.49	−0.008%	$3.5M	$20.3M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.05	+0.067%	$16.8M	$5.5M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.54	+0.133%	$2K	$1.6M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.01	+0.062%	$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	743.28	+0.098%	$361K	$1.6M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0006%	1h	742.30	−0.034%	$398K	$151K	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.67	+0.016%	$7.6M	$15.2M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.08	+0.071%	$38.5M	$78.8M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	742.35	−0.027%	$1.2M	$528K	20x	as long as short
Variational Omni QQQ	+0.0034%	8h	742.90	+0.047%	$16.8M	$7.2M	—	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.04	−0.069%	$650K	$1.4M	25x	as long as short
Bybit QQQUSDT	+0.0044%	8h	743.04	+0.066%	$10.7M	$4.9M	50x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.77	+0.164%	—	$337K	50x	as long as short
Binance QQQUSDT	+0.0059%	8h	742.98	+0.058%	$71.6M	$143.7M	25x	as long as short
edgeX QQQUSDC	+0.0080%	4h	742.33	−0.029%	$759K	$335K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.54	−0.001%	$3.4M	$458K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.68	+0.018%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.62	+0.009%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.14	−0.055%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0114%	1h	742.48	−0.010%	$1.6M	$774K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0207%	8h	743.25	+0.094%	$319K	$2.0M	10x	as long as short
Phoenix QQQlong	+0.0280%	1h	742.55	long leg	$38K	$59K	20x