Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0814%/8h= +89.1% APRpaid last 24h −0.067%

Price spread now: edgeX against Bybit−0.016%81s7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.322% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 3 days (all we have)+0.008%+$1 · spread now −0.016%, 7d avg −0.037%

Together, before fees+0.037%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and edgeX is 0.020% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.037%. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.029% in total (about 1.5% 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	Bybit QQQUSDT	743.63	0.0101	pay 0.0101% / 8h	14m 08s	$10.7M	$5.2M	50x
Short	edgeX QQQUSDC	743.51	0.0915	get 0.0458% / 4h	14m 08s	$760K	$337K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.016%Rate

Funding earned: $170.97
Price spread: −0.016% → −0.037%: $2.04
Slippage, 4 orders: −$12.21
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $140.8
Costs to cover: 0.322%
Break-even: 1.2 days

Slippage from Bybit: live order book, 4 min ago; edgeX: live order book, 65 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, 4 min ago	0.07 bp	7.2 bp −$7	11.4 bp −$114	82.5 bp −$8,250	doesn't fit
Sell edgeX live order book, 65 min ago	4.11 bp	8.7 bp −$9	9.8 bp −$98	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
GMX QQQ/USD [ETH-USDC]	L −0.0077% / S +0.0186%	1h	743.60	−0.005%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0042%	1h	742.08	−0.208%	$4.2M	$2.1M	20x	as long as short
BloFin QQQ-USDT	−0.0011%	8h	743.09	−0.073%	$1.1M	$320K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.36	−0.036%	$845K	$783K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.39	−0.032%	$21.5M	$27.6M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.20	−0.058%	$3.1M	$32.8M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.03	+0.054%	$2K	$2.3M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.15	−0.065%	$257K	$25K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.98	+0.047%	$364K	$1.4M	10x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.69	+0.008%	$37.5M	$80.6M	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus QQQ-USD	+0.0040%	1h	742.87	−0.102%	$747K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.00	+0.050%	—	$621K	50x	as long as short
Variational Omni QQQ	+0.0046%	8h	743.47	−0.022%	$17.6M	$10.3M	—	as long as short
Lighter QQQ	+0.0064%	1h	743.37	−0.035%	$7.6M	$20.9M	30x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0072%	1h	742.85	−0.105%	$1.2M	$865K	20x	as long as short
Binance QQQUSDT	+0.0076%	8h	743.58	−0.006%	$71.1M	$160.6M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.05	−0.078%	$3.4M	$415K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.10	−0.071%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.23	−0.054%	$12K	$21K	20x	as long as short
Bybit QQQUSDTlong	+0.0101%	8h	743.63	long leg	$10.7M	$5.2M	50x
Aevo QQQ-PERP	+0.0104%	1h	742.85	−0.105%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0172%	1h	743.06	−0.076%	$1.5M	$1.3M	20x	as long as short
Bitget QQQUSDT	+0.0181%	8h	743.62	−0.001%	$16.9M	$7.0M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0191%	8h	743.70	+0.009%	$323K	$1.8M	10x	as long as short
RISEx QQQ/USDC	+0.0193%	1h	743.68	+0.006%	$5.4M	$8.9M	25x	as long as short
Phoenix QQQ	+0.0194%	1h	743.10	−0.071%	$38K	$73K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0288%	1h	743.38	−0.034%	$425K	$157K	20x	as long as short
edgeX QQQUSDCshort	+0.0915%	4h	743.51	−0.016%	$760K	$337K	20x