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 −0.006%

Price spread now: Bybit against Variational Omni−0.003%7-day average +0.021% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$2 on $10k

Price spread, last 7 days−0.006%−$1 · spread now −0.003%, 7d avg +0.021%

Together, before fees−0.021%+ Points / potential airdropVariational Omni: Active · farm board−$2 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: Bybit is 0.024% cheaper against Variational Omni than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni QQQ	742.98	0	get 0.0000% / 8h	2h 04m	$16.9M	$7.3M	—
Short	Bybit QQQUSDT	742.96	0	get 0.0000% / 8h	2h 04m	$10.6M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.003%Rate

Funding earned: $0
Price spread: −0.003% → +0.021%: −$2.39
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$13.39
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Bybit: live order book, 3 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 Variational Omni RFQ quote, 4 min ago	1.90 bp	doesn't fit	2.4 bp −$24	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.07 bp	7.6 bp −$8	8.8 bp −$88	62.9 bp −$6,293	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 −0.0153% / S +0.0246%	1h	743.11	+0.016%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0008%	1h	741.84	−0.154%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.60	−0.052%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.95	−0.005%	$70.3M	$145.2M	25x	as long as short
Bybit QQQUSDTshort	0.0000%	8h	742.96	−0.003%	$10.6M	$5.2M	50x
OKX QQQ-USDT-SWAP	0.0000%	8h	742.79	−0.026%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	743.00	+0.002%	$5.4M	$6.6M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.31	−0.091%	$3.3M	$21.4M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.10	+0.015%	$16.6M	$5.6M	20x	as long as short
Variational Omni QQQlong	0.0000%	8h	742.98	long leg	$16.9M	$7.3M	—

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	743.58	+0.080%	$2K	$1.8M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.63	−0.048%	$1.2M	$541K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.32	+0.045%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.59	+0.081%	$362K	$1.6M	10x	as long as short
BloFin QQQ-USDT	+0.0027%	8h	742.82	−0.022%	$1.1M	$278K	20x	as long as short
Lighter QQQ	+0.0032%	1h	742.72	−0.036%	$7.6M	$15.8M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.16	+0.024%	$37.0M	$81.0M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.18	−0.108%	$689K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.00	+0.137%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0097%	8h	743.30	+0.042%	$315K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.69	−0.040%	$3.4M	$365K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.73	−0.034%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.75	−0.032%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.28	−0.095%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0122%	1h	742.66	−0.044%	$1.5M	$750K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	742.79	−0.026%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0262%	1h	742.92	−0.009%	$424K	$153K	20x	as long as short
edgeX QQQUSDC	+0.0567%	4h	743.11	+0.017%	$760K	$335K	20x	as long as short