Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0245%/8h= −26.8% APRpaid last 24h +0.007%

Price spread now: Deribit against Bitget−0.009%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.031%+$3 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.009%, 7d avg −0.094%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.085% dearer against Bitget than usual: you sell high and buy low (spread −0.009% now, against its 7-day average of −0.094%): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 28 hours.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.031% in total (about 2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget QQQUSDT	741.52	0.0245	pay 0.0245% / 8h	3h 31m	$16.8M	$7.6M	20x
Short	Deribit QQQ_USDC-PERPETUAL	741.45	0	get 0.0000% / 1h	31m 59s	$424K	$304K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$51.45
Price spread: −0.009% → −0.094%: $8.45
Slippage, 4 orders: −$5.63
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$67.63
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Deribit: live order book, 17 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 Bitget live order book, 2 min ago	0.07 bp	6.6 bp −$7	9.6 bp −$96	13.6 bp −$1,359	doesn't fit
Sell Deribit live order book, 17 min ago	0.07 bp	7.8 bp −$8	8.9 bp −$89	doesn't fit	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
Ondo Perps QQQ-USD.P	−0.0218%	1h	740.20	−0.178%	$4.2M	$2.3M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0039% / S +0.0157%	1h	741.53	+0.002%	$25K	—	26x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.33	−0.026%	$21.2M	$27.7M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.10	−0.057%	$3.1M	$34.0M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.08	+0.076%	$2K	$2.5M	10x	as long as short
Deribit QQQ_USDC-PERPETUALshort	0.0000%	1h	741.45	−0.009%	$424K	$304K	20x
HTX QQQ-USDT	0.0000%	8h	741.84	+0.043%	$256K	$32K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	741.71	+0.026%	$361K	$1.3M	10x	as long as short
Aster QQQUSDT	+0.0002%	8h	741.28	−0.032%	$843K	$592K	20x	as long as short
BloFin QQQ-USDT	+0.0012%	8h	741.46	−0.008%	$1.0M	$508K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx QQQ/USDC	+0.0015%	1h	741.64	+0.017%	$5.1M	$9.1M	25x	as long as short
Bybit QQQUSDT	+0.0020%	8h	741.59	+0.009%	$10.7M	$6.0M	50x	as long as short
Lighter QQQ	+0.0032%	1h	741.44	−0.011%	$7.9M	$21.8M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.91	+0.053%	$38.6M	$83.2M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.80	−0.097%	$736K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.22	+0.094%	—	$621K	50x	as long as short
Nado QQQ-PERP	+0.0047%	1h	741.31	−0.029%	$1.5M	$1.4M	20x	as long as short
Variational Omni QQQ	+0.0060%	8h	741.36	−0.022%	$17.2M	$10.5M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	741.15	−0.050%	$1.2M	$853K	20x	as long as short
Phoenix QQQ	+0.0065%	1h	740.97	−0.074%	$38K	$73K	20x	as long as short
Binance QQQUSDT	+0.0083%	8h	741.51	−0.001%	$68.6M	$160.4M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.13	−0.053%	$3.4M	$447K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.10	−0.057%	$20K	$2.1M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.24	−0.038%	$7K	$15K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.94	−0.079%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0151%	8h	741.47	−0.007%	$323K	$1.6M	10x	as long as short
Bitget QQQUSDTlong	+0.0245%	8h	741.52	long leg	$16.8M	$7.6M	20x
edgeX QQQUSDC	+0.0564%	4h	741.36	−0.022%	$758K	$336K	20x	as long as short