Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.004%

Price spread now: Arcus against Bybit−0.091%7-day average −0.162% · 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−$18as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.018%+$2 on $10k

Price spread, last 7 days−0.006%−$1 · spread now −0.091%, 7d avg −0.162%

Together, before fees+0.012%+$1 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 Arcus is 0.071% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit QQQUSDT	744.43	0	get 0.0000% / 8h	4h 37m	$10.7M	$5.0M	50x
Short	Arcus QQQ-USD	743.75	0.0040	get 0.0005% / 1h	37m 05s	$700K	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now −0.091%Rate

Funding earned: $8.46
Price spread: −0.091% → −0.162%: $7.09
Slippage, 4 orders: −$9.44
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$9.39
Costs to cover: 0.249%
Break-even: 14.8 days

Slippage from Bybit: live order book, 1 min ago; Arcus: live order book, 2 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 Bybit live order book, 1 min ago	0.07 bp	7.9 bp −$8	12.7 bp −$127	81.4 bp −$8,142	doesn't fit
Sell Arcus live order book, 2 min ago	0.13 bp	6.3 bp −$6	12.6 bp −$126	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	−0.0136%	1h	742.94	−0.200%	$4.2M	$1.8M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0121% / S +0.0222%	1h	744.49	+0.007%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0021%	8h	744.29	−0.019%	$1.1M	$271K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	744.45	+0.003%	$841K	$714K	20x	as long as short
Bybit QQQUSDTlong	0.0000%	8h	744.43	long leg	$10.7M	$5.0M	50x
OKX QQQ-USDT-SWAP	0.0000%	8h	744.29	−0.019%	$21.5M	$26.9M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.54	+0.015%	$5.4M	$7.5M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.89	−0.073%	$3.3M	$20.8M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.62	+0.026%	$16.9M	$5.7M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.94	+0.069%	$2K	$1.9M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDT	0.0000%	8h	744.70	+0.036%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.81	+0.051%	$361K	$1.5M	10x	as long as short
Variational Omni QQQ	+0.0006%	8h	744.39	−0.006%	$17.1M	$7.5M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0008%	1h	743.96	−0.063%	$1.2M	$536K	20x	as long as short
Lighter QQQ	+0.0032%	1h	744.29	−0.019%	$7.7M	$16.3M	30x	as long as short
Arcus QQQ-USDshort	+0.0040%	1h	743.75	−0.091%	$700K	$1.6M	25x
Binance QQQUSDT	+0.0041%	8h	744.45	+0.002%	$71.1M	$141.8M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.45	+0.137%	—	$337K	50x	as long as short
Lighter RH QQQ	+0.0048%	1h	744.77	+0.046%	$36.9M	$78.9M	50x	as long as short
Nado QQQ-PERP	+0.0096%	1h	744.19	−0.033%	$1.5M	$876K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	744.12	−0.042%	$3.4M	$390K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	744.14	−0.039%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.18	−0.034%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.65	−0.104%	$93K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0114%	8h	744.62	+0.026%	$319K	$1.9M	10x	as long as short
Phoenix QQQ	+0.0129%	1h	744.01	−0.056%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0261%	1h	744.40	−0.004%	$425K	$149K	20x	as long as short
edgeX QQQUSDC	+0.0636%	4h	744.35	−0.010%	$761K	$334K	20x	as long as short