Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0816%/8h= +89.4% APRpaid last 24h +0.106%

Price spread now: edgeX against Coinbase International+0.032%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.032%, 7d avg +0.047%

Together, before fees−0.174%+ Points / potential airdropedgeX: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.047%, so right now this pair is about funding alone: +$24 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.100%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.100% in total (about -5.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International QQQ-PERP-INTX	741.84	0.0048	pay 0.0006% / 1h	6m 35s	$1.2M	$586K	20x
Short	edgeX QQQUSDC	742.08	0.0864	get 0.0432% / 4h	6m 35s	$759K	$335K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Coinbase International. 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 Coinbase InternationalbpFee edgeXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $171.36
Price spread: +0.032% → +0.047%: −$1.56
Slippage, 4 orders: −$10.28
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $140.52
Costs to cover: 0.293%
Break-even: 1.3 days

Slippage from Coinbase International: live order book, 5 min ago; edgeX: live order book, 35 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 Coinbase International live order book, 5 min ago	0.07 bp	5.5 bp −$5	7.6 bp −$76	37.0 bp −$3,695	doesn't fit
Sell edgeX live order book, 35 min ago	4.11 bp	8.7 bp −$9	9.6 bp −$96	doesn't fit	doesn't fit

QQQ on 28 exchanges

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 −0.0203% / S +0.0285%	1h	742.15	+0.042%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0198%	1h	740.51	−0.179%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0030%	8h	742.00	+0.022%	$1.1M	$254K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.88	+0.005%	$10.9M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.90	+0.008%	$22.1M	$30.9M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.82	−0.003%	$5.5M	$5.6M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.44	−0.054%	$3.7M	$20.5M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.63	+0.106%	$2K	$1.5M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	741.64	−0.027%	$398K	$102K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.87	+0.139%	$247K	$45K	30x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDT	0.0000%	8h	742.51	+0.090%	$361K	$1.7M	10x	as long as short
Arcus QQQ-USD	+0.0004%	1h	741.14	−0.094%	$651K	$1.4M	25x	as long as short
Aster QQQUSDT	+0.0011%	8h	742.09	+0.034%	$855K	$925K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.34	−0.067%	$7.2M	$16.6M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.14	+0.040%	$39.0M	$77.4M	50x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.94	+0.148%	—	$337K	50x	as long as short
Coinbase International QQQ-PERP-INTXlong	+0.0048%	1h	741.84	long leg	$1.2M	$586K	20x
Bitget QQQUSDT	+0.0050%	8h	742.14	+0.040%	$17.1M	$6.0M	20x	as long as short
Nado QQQ-PERP	+0.0080%	1h	741.71	−0.017%	$1.6M	$787K	20x	as long as short
Variational Omni QQQ	+0.0088%	8h	742.06	+0.030%	$16.8M	$6.9M	—	as long as short
Binance QQQUSDT	+0.0099%	8h	742.02	+0.024%	$72.4M	$150.1M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.70	−0.019%	$3.4M	$539K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.79	−0.007%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.86	+0.003%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.30	−0.073%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0239%	8h	742.44	+0.081%	$315K	$2.1M	10x	as long as short
Phoenix QQQ	+0.0409%	1h	741.75	−0.012%	$43K	$59K	20x	as long as short
edgeX QQQUSDCshort	+0.0864%	4h	742.08	+0.032%	$759K	$335K	20x