Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0500%/8h= −54.8% APRpaid last 24h −0.035%

Price spread now: ApeX Omni against edgeX−0.042%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

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

costs, in and out, $10k−$370.370% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.042%, 7d avg −0.013%

Together, before fees+0.111%+ Points / potential airdropedgeX: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and ApeX Omni is 0.029% cheaper against edgeX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.013%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.113%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.113% in total (about 5.9% 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	edgeX QQQUSDC	741.80	0.0600	pay 0.0300% / 4h	32m 05s	$758K	$335K	20x
Short	ApeX Omni QQQUSDT	741.49	0.0100	get 0.0013% / 1h	32m 05s	$20K	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now −0.042%Rate

Funding earned: −$105.06
Price spread: −0.042% → −0.013%: −$2.94
Slippage, 4 orders: −$17.99
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$144.98
Costs to cover: 0.370%
Break-even: never at this rate

Slippage from edgeX: live order book, 7 min ago; ApeX Omni: live order book, 2 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 edgeX live order book, 7 min ago	4.11 bp	8.7 bp −$9	9.7 bp −$97	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 2 min ago	3.78 bp	9.8 bp −$10	26.9 bp −$269	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
Ondo Perps QQQ-USD.P	−0.0173%	1h	740.14	−0.224%	$4.2M	$1.8M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0172% / S +0.0261%	1h	741.83	+0.003%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0074%	8h	741.39	−0.055%	$3.3M	$21.6M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.83	+0.004%	$821K	$861K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.74	−0.008%	$10.7M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.61	−0.026%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.51	−0.039%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.90	+0.013%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.73	−0.010%	$16.8M	$7.2M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.32	+0.070%	$2K	$1.8M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDT	0.0000%	8h	742.04	+0.032%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	741.98	+0.024%	$361K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0012%	8h	741.87	+0.009%	$70.2M	$142.0M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.51	−0.039%	$1.2M	$491K	20x	as long as short
BloFin QQQ-USDT	+0.0024%	8h	741.52	−0.038%	$1.1M	$274K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.56	−0.033%	$7.7M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.85	+0.007%	$37.3M	$80.2M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.20	−0.081%	$644K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.63	+0.112%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.36	−0.060%	$3.4M	$360K	20x	as long as short
ApeX Omni QQQUSDTshort	+0.0100%	1h	741.49	−0.042%	$20K	$2.2M	50x
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.47	−0.045%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.00	−0.108%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0123%	1h	741.30	−0.068%	$1.6M	$763K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0130%	8h	742.08	+0.038%	$325K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0209%	1h	741.51	−0.039%	$424K	$156K	20x	as long as short
Phoenix QQQ	+0.0227%	1h	741.51	−0.039%	$38K	$65K	20x	as long as short
edgeX QQQUSDClong	+0.0600%	4h	741.80	long leg	$758K	$335K	20x