Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Gate against Coinbase International−0.057%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.246%−$25 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.057%, 7d avg +0.027%

Together, before fees−0.248%−$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.083% cheaper against Coinbase International than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International QQQ-PERP-INTX	742.63	0	get 0.0000% / 1h	3m 13s	$1.2M	$542K	20x
Short	Gate QQQ_USDT	742.21	0	get 0.0000% / 8h	2h 03m	$3.3M	$21.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → +0.027%: −$8.32
Slippage, 4 orders: −$7.08
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$40.4
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from Coinbase International: live order book, just now; Gate: live order book, 6 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, just now	0.07 bp	5.4 bp −$5	7.6 bp −$76	54.2 bp −$5,419	doesn't fit
Sell Gate live order book, 6 min ago	1.01 bp	8.7 bp −$9	13.0 bp −$130	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 −0.0153% / S +0.0246%	1h	742.95	+0.042%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0010%	8h	742.76	+0.018%	$1.1M	$278K	20x	as long as short
Ondo Perps QQQ-USD.P	−0.0010%	1h	741.84	−0.106%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.58	−0.007%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.97	+0.046%	$70.3M	$145.2M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	742.92	+0.039%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.72	+0.012%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.83	+0.027%	$5.4M	$6.5M	25x	as long as short
Gate QQQ_USDTshort	0.0000%	8h	742.21	−0.057%	$3.3M	$21.4M	50x
Bitget QQQUSDT	0.0000%	8h	743.00	+0.050%	$16.6M	$5.6M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QQQ	0.0000%	8h	742.98	+0.048%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	743.43	+0.108%	$2K	$1.8M	10x	as long as short
Coinbase International QQQ-PERP-INTXlong	0.0000%	1h	742.63	long leg	$1.2M	$542K	20x
HTX QQQ-USDT	0.0000%	8h	743.32	+0.093%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.10	+0.063%	$363K	$1.6M	10x	as long as short
Lighter QQQ	+0.0032%	1h	742.68	+0.007%	$7.6M	$15.8M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.05	+0.057%	$36.9M	$81.1M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.08	−0.074%	$689K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.79	+0.156%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0097%	8h	743.30	+0.090%	$315K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.60	−0.004%	$3.4M	$365K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.58	−0.007%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.62	−0.001%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.09	−0.072%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0123%	1h	742.41	−0.029%	$1.5M	$749K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	742.50	−0.018%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0154%	1h	742.57	−0.008%	$424K	$153K	20x	as long as short
edgeX QQQUSDC	+0.0996%	4h	742.98	+0.047%	$760K	$335K	20x	as long as short