Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter RH against SunX−0.046%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$640.638% of the position

Long on SunX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now −0.046%, 7d avg −0.070%

Together, before fees+0.094%+ Points / potential airdropLighter RH: Points live · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.024% dearer against SunX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX QQQ-USDT	744.63	0	get 0.0000% / 8h	5h 49m	$2K	$2.0M	10x
Short	Lighter RH QQQ	744.29	0.0032	get 0.0004% / 1h	49m 19s	$37.3M	$78.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against SunX. 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 SunXbpFee Lighter RHbpOrdersPrice spread, now −0.046%Rate

Funding earned: $6.72
Price spread: −0.046% → −0.070%: $2.44
Slippage, 4 orders: −$55.77
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$54.61
Costs to cover: 0.638%
Break-even: 63.9 days

Slippage from SunX: live order book, 17 min ago; Lighter RH: live order book, 5 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 SunX live order book, 17 min ago	11.06 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 5 min ago	0.07 bp	0.4 bp $0	1.3 bp −$13	7.5 bp −$755	doesn't fit

QQQ on 27 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 −0.0107% / S +0.0210%	1h	744.18	−0.060%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	744.15	−0.064%	$841K	$713K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.17	−0.062%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.14	−0.066%	$21.7M	$26.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.29	−0.046%	$5.4M	$7.5M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.92	−0.095%	$3.3M	$20.5M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.46	−0.023%	$16.9M	$5.8M	20x	as long as short
SunX QQQ-USDTlong	0.0000%	8h	744.63	long leg	$2K	$2.0M	10x
HTX QQQ-USDT	0.0000%	8h	744.24	−0.052%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.56	−0.009%	$361K	$1.4M	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX QQQUSDC	+0.0005%	4h	744.28	−0.046%	$761K	$334K	20x	as long as short
Ondo Perps QQQ-USD.P	+0.0009%	1h	743.42	−0.162%	$4.2M	$1.9M	20x	as long as short
Lighter QQQ	+0.0032%	1h	743.87	−0.102%	$7.7M	$17.1M	30x	as long as short
Lighter RH QQQshort	+0.0032%	1h	744.29	−0.046%	$37.3M	$78.5M	50x
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	743.74	−0.120%	$1.2M	$534K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.43	−0.161%	$705K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.15	+0.070%	—	$337K	50x	as long as short
Variational Omni QQQ	+0.0049%	8h	744.19	−0.059%	$17.1M	$7.5M	—	as long as short
Binance QQQUSDT	+0.0074%	8h	744.06	−0.076%	$71.1M	$144.5M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.92	−0.095%	$3.4M	$414K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.99	−0.086%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.89	−0.099%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.37	−0.169%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0115%	1h	743.89	−0.100%	$1.5M	$923K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0140%	1h	743.96	−0.090%	$425K	$149K	20x	as long as short
Phoenix QQQ	+0.0161%	1h	743.80	−0.111%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0165%	8h	744.45	−0.024%	$322K	$1.9M	10x	as long as short