Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0034%/8hnext payment +$0.34 per $10,000 · paid last 24h +0.025%

Price spread now: Orderly against Bybit−0.125%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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. Orderly is 0.125% cheaper against Bybit than usual: you would sell low and buy high (spread −0.125% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 12 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit QQQUSDT	743.30	0.0066	pay 0.0066% / 8h	4h 21m	$10.6M	$5.8M	50x
Short	Orderly PERP_QQQ_USDC_mythos	742.37	0.0100	get 0.0100% / 8h	4h 21m	$7K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.125%Rate

Funding earned: $7.15
Price spread: −0.125% → 0.000%: −$12.51
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$22.36
Costs to cover: 0.170%
Break-even: 28.9 days

Slippage unknown: Bybit: live order book, 10 min ago; Orderly: 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 Bybit live order book, 10 min ago	0.07 bp	7.1 bp −$7	10.9 bp −$109	70.0 bp −$6,998	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0082%	1h	741.84	−0.196%	$4.2M	$2.3M	20x	as long as short
Arcus QQQ-USD	−0.0037%	1h	742.37	−0.125%	$757K	$1.5M	25x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0027% / S +0.0135%	1h	743.28	−0.002%	$25K	—	53x	as long as short
Gate QQQ_USDT	−0.0018%	8h	742.58	−0.097%	$3.1M	$33.8M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.14	−0.022%	$21.3M	$26.1M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	743.14	−0.022%	$5.2M	$9.0M	25x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.55	+0.034%	$2K	$2.4M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.16	−0.019%	$257K	$33K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.52	+0.030%	$362K	$1.3M	10x	as long as short
Phoenix QQQ	+0.0022%	1h	742.56	−0.100%	$38K	$73K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QQQ	+0.0032%	1h	743.31	+0.001%	$8.0M	$21.6M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.69	+0.052%	$39.2M	$84.3M	50x	as long as short
Aster QQQUSDT	+0.0037%	8h	743.05	−0.034%	$846K	$584K	20x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.83	+0.071%	—	$621K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	742.77	−0.071%	$1.2M	$847K	20x	as long as short
Bybit QQQUSDTlong	+0.0066%	8h	743.30	long leg	$10.6M	$5.8M	50x
Deribit QQQ_USDC-PERPETUAL	+0.0073%	1h	743.13	−0.023%	$425K	$303K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.99	−0.042%	$3.4M	$440K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.60	−0.094%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	742.37	−0.125%	$7K	$15K	20x
Variational Omni QQQ	+0.0101%	8h	742.68	−0.083%	$17.2M	$10.4M	—	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.63	−0.091%	$92K	$1K	10x	as long as short
Binance QQQUSDT	+0.0119%	8h	743.45	+0.020%	$69.8M	$155.1M	25x	as long as short
BloFin QQQ-USDT	+0.0120%	8h	742.23	−0.144%	$1.1M	$511K	20x	as long as short
Nado QQQ-PERP	+0.0152%	1h	742.68	−0.083%	$1.5M	$1.4M	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0203%	8h	743.10	−0.027%	$321K	$1.5M	10x	as long as short
Bitget QQQUSDT	+0.0284%	8h	743.35	+0.007%	$16.9M	$7.5M	20x	as long as short
edgeX QQQUSDC	+0.0516%	4h	742.88	−0.057%	$760K	$335K	20x	as long as short