Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h −0.003%

Price spread now: BloFin against Deribit+0.039%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.185%−$19 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now +0.039%, 7d avg +0.045%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 5 days funding on this pair cost −0.185%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit QQQ_USDC-PERPETUAL	742.58	0	get 0.0000% / 1h	44m 59s	$398K	$107K	20x
Short	BloFin QQQ-USDT	742.87	0.0016	get 0.0016% / 8h	5h 44m	$1.1M	$237K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. 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 DeribitbpFee BloFinbpOrdersPrice spread, now +0.039%Rate

Funding earned: $3.46
Price spread: +0.039% → +0.045%: −$0.58
Slippage, 4 orders: −$2.8
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$18.92
Costs to cover: 0.218%
Break-even: 45.3 days

Slippage from Deribit: live order book, 2 min ago; BloFin: live order book, 5 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 Deribit live order book, 2 min ago	0.07 bp	3.8 bp −$4	4.6 bp −$46	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.07 bp	6.2 bp −$6	6.5 bp −$65	10.1 bp −$1,006	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	743.09	+0.068%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0122%	1h	740.96	−0.218%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.21	+0.085%	$857K	$903K	20x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.89	+0.042%	$21.7M	$30.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.86	+0.037%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.43	−0.020%	$3.5M	$19.8M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.03	+0.061%	$17.0M	$5.9M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	743.53	+0.128%	$2K	$1.5M	10x	as long as short
Deribit QQQ_USDC-PERPETUALlong	0.0000%	1h	742.58	long leg	$398K	$107K	20x
HTX QQQ-USDT	0.0000%	8h	743.27	+0.093%	$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	743.53	+0.128%	$362K	$1.6M	10x	as long as short
BloFin QQQ-USDTshort	+0.0016%	8h	742.87	+0.039%	$1.1M	$237K	20x
Lighter QQQ	+0.0032%	1h	742.47	−0.015%	$7.3M	$15.7M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.10	+0.070%	$38.7M	$77.0M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	742.87	+0.039%	$1.2M	$541K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.93	−0.088%	$659K	$1.4M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.84	+0.170%	—	$337K	50x	as long as short
Variational Omni QQQ	+0.0052%	8h	742.97	+0.052%	$16.8M	$6.9M	—	as long as short
Bybit QQQUSDT	+0.0068%	8h	743.15	+0.077%	$10.5M	$4.8M	50x	as long as short
Binance QQQUSDT	+0.0076%	8h	743.17	+0.079%	$71.6M	$145.9M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.67	+0.012%	$3.4M	$469K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.82	+0.032%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.74	+0.022%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.28	−0.040%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0133%	1h	742.38	−0.027%	$1.6M	$770K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0250%	8h	743.56	+0.132%	$318K	$2.1M	10x	as long as short
Phoenix QQQ	+0.0302%	1h	742.33	−0.034%	$38K	$59K	20x	as long as short
edgeX QQQUSDC	+0.0715%	4h	743.15	+0.077%	$760K	$336K	20x	as long as short