QQQ

Alert

Funding spread now, next payment 17:00 UTC−0.0113%/8h

paid, last 24h+0.002%paid, last 3 days+0.004%to open and closeno order book

Long on Phoenix Short on Variational Omni

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix QQQ	738.82	0.0227	pay 0.0028% / 1h	43m 39s	$38K	$74K	20x
Short	Variational Omni QQQ	739.33	0.0114	get 0.0114% / 8h	6h 43m	$17.7M	$9.6M	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee Variational OmnibpOrdersRate

Funding earned: −$23.75
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$30.75
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.069%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Variational Omni RFQ quote, 2 min ago	1.90 bp	doesn't fit	2.1 bp −$21	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 27 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Ondo Perps QQQ-USD.P	−0.0195%	1h	$4.3M	$1.9M	20x	as long as short
BloFin QQQ-USDT	−0.0020%	8h	$1.0M	$471K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	$21.0M	$23.4M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	$2.8M	$33.4M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	$1K	$2.5M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	$258K	$27K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	$360K	$1.3M	10x	as long as short
GMX QQQ/USD [ETH-USDC]	L +0.0009% / S +0.0095%	1h	$23K	—	53x	as long as short
Lighter QQQ	+0.0032%	1h	$8.1M	$20.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	$40.0M	$79.1M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Arcus QQQ-USD	+0.0040%	1h	$761K	$1.5M	25x	as long as short
RISEx QQQ/USDC	+0.0041%	1h	$5.5M	$8.9M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	—	$590K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	$1.2M	$824K	20x	as long as short
Aster QQQUSDT	+0.0056%	8h	$824K	$522K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	$3.4M	$430K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	$22K	$2.1M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	$7K	$15K	20x	as long as short
Nado QQQ-PERP	+0.0101%	1h	$1.5M	$1.4M	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	$92K	$1K	10x	as long as short
Bybit QQQUSDT	+0.0111%	8h	$10.8M	$5.0M	50x	as long as short
Variational Omni QQQshort	+0.0114%	8h	$17.7M	$9.6M	—
Deribit QQQ_USDC-PERPETUAL	+0.0115%	1h	$422K	$309K	20x	as long as short
Binance QQQUSDT	+0.0131%	8h	$70.0M	$146.3M	25x	as long as short
Phoenix QQQlong	+0.0227%	1h	$38K	$74K	20x
Bitget QQQUSDT	+0.0279%	8h	$16.5M	$7.2M	20x	as long as short
edgeX QQQUSDC	+0.0699%	4h	$756K	$336K	20x	as long as short