Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0233%/8h= +25.6% APRpaid last 24h −0.007%

Price spread now: Phoenix against BloFin−0.028%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.328%+$33 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.028% cheaper against BloFin than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin QQQ-USDT	741.72	−0.0007	get 0.0007% / 8h	34m 13s	$1.1M	$274K	20x
Short	Phoenix QQQ	741.51	0.0227	get 0.0028% / 1h	34m 13s	$38K	$65K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now −0.028%Rate

Funding earned: $49
Price spread: −0.028% → 0.000%: −$2.83
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $27.17
Costs to cover: 0.190%
Break-even: 3.1 days

Slippage unknown: BloFin: live order book, 3 min ago; Phoenix: no order-book sample. 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 BloFin live order book, 3 min ago	0.14 bp	6.3 bp −$6	6.9 bp −$69	11.9 bp −$1,194	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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
Ondo Perps QQQ-USD.P	−0.0177%	1h	740.56	−0.156%	$4.2M	$1.8M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0172% / S +0.0261%	1h	741.84	+0.016%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0075%	8h	741.40	−0.043%	$3.3M	$21.6M	50x	as long as short
BloFin QQQ-USDTlong	−0.0007%	8h	741.72	long leg	$1.1M	$274K	20x
Aster QQQUSDT	0.0000%	8h	741.83	+0.014%	$821K	$861K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.94	+0.030%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.60	−0.016%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.66	−0.008%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.99	+0.036%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.73	+0.001%	$16.8M	$7.2M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	742.63	+0.123%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.04	+0.043%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.27	+0.074%	$361K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0011%	8h	741.82	+0.014%	$70.2M	$142.2M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.51	−0.028%	$1.2M	$491K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.61	−0.015%	$7.7M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.89	+0.023%	$37.3M	$80.2M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.26	−0.062%	$644K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.76	+0.140%	—	$337K	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0087%	1h	741.63	−0.012%	$424K	$156K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.52	−0.027%	$3.4M	$360K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.38	−0.046%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.62	−0.013%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.18	−0.073%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0119%	1h	741.51	−0.028%	$1.6M	$763K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0127%	8h	741.96	+0.032%	$325K	$2.0M	10x	as long as short
Phoenix QQQshort	+0.0227%	1h	741.51	−0.028%	$38K	$65K	20x
edgeX QQQUSDC	+0.0600%	4h	741.80	+0.011%	$758K	$335K	20x	as long as short