Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0118%/8h= −13.0% APRpaid last 24h −0.013%

Price spread now: HTX against Phoenix+0.063%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 HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 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. HTX is 0.063% dearer against Phoenix than usual: you sell high and buy low (spread +0.063% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix QQQ	743.10	0.0118	pay 0.0015% / 1h	38m 40s	$38K	$66K	20x
Short	HTX QQQ-USDT	743.57	0	get 0.0000% / 8h	3h 38m	$257K	$29K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$24.84
Price spread: +0.063% → 0.000%: $6.32
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$37.52
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; HTX: live order book, 13 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 HTX live order book, 13 min ago	2.69 bp	8.7 bp −$9	15.5 bp −$155	doesn't fit	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 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 −0.0133% / S +0.0231%	1h	743.18	+0.011%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0042%	1h	742.40	−0.094%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0027%	8h	743.11	+0.001%	$1.1M	$256K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.12	+0.003%	$840K	$714K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	743.10	0.000%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.01	−0.012%	$21.4M	$26.9M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.78	−0.043%	$3.3M	$20.9M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.36	+0.035%	$16.9M	$5.5M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	743.22	+0.017%	$17.1M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	743.60	+0.067%	$2K	$1.9M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.64	−0.062%	$1.2M	$536K	20x	as long as short
HTX QQQ-USDTshort	0.0000%	8h	743.57	+0.063%	$257K	$29K	30x
Phemex QQQUSDT	0.0000%	8h	743.12	+0.003%	$359K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0005%	8h	743.17	+0.009%	$70.8M	$141.3M	25x	as long as short
RISEx QQQ/USDC	+0.0010%	1h	743.24	+0.020%	$5.4M	$7.3M	25x	as long as short
Lighter QQQ	+0.0032%	1h	743.06	−0.005%	$7.7M	$15.8M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.48	+0.051%	$37.0M	$78.7M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.61	−0.066%	$702K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.20	+0.148%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0072%	8h	743.44	+0.046%	$315K	$1.9M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0073%	1h	742.91	−0.026%	$424K	$150K	20x	as long as short
Nado QQQ-PERP	+0.0091%	1h	742.94	−0.022%	$1.5M	$769K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.94	−0.022%	$3.4M	$339K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.28	+0.024%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.85	−0.034%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.35	−0.101%	$92K	$1K	10x	as long as short
Phoenix QQQlong	+0.0118%	1h	743.10	long leg	$38K	$66K	20x
edgeX QQQUSDC	+0.0938%	4h	743.35	+0.034%	$760K	$334K	20x	as long as short