Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0580%/8h= −63.5% APRpaid last 24h −0.003%

Price spread now: KuCoin against edgeX−0.034%68s7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.418% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 4 days (all we have)+0.005%$0 · spread now −0.034%, 7d avg −0.023%

Together, before fees+0.103%+ Points / potential airdropedgeX: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: −$17 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.098%, so the current rate has only just turned against you. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.098% in total (about 5.1% 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	744.36	0.0680	pay 0.0340% / 4h	34m 16s	$761K	$334K	20x
Short	KuCoin QQQUSDTM	744.11	0.0100	get 0.0100% / 8h	4h 34m	$3.4M	$388K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$121.77
Price spread: −0.034% → −0.023%: −$1.1
Slippage, 4 orders: −$20.85
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$164.72
Costs to cover: 0.418%
Break-even: never at this rate

Slippage from edgeX: live order book, 25 min ago; KuCoin: live order book, 3 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, 25 min ago	4.16 bp	8.7 bp −$9	9.6 bp −$96	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.54 bp	13.8 bp −$14	115.6 bp −$1,156	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	−0.0145%	1h	743.21	−0.155%	$4.2M	$1.8M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0122% / S +0.0222%	1h	744.47	+0.014%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	744.44	+0.011%	$841K	$714K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.34	−0.003%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.29	−0.010%	$21.5M	$26.9M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.52	+0.021%	$5.4M	$7.5M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.84	−0.070%	$3.3M	$20.8M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.61	+0.033%	$16.9M	$5.7M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.91	+0.074%	$2K	$1.9M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.81	+0.060%	$257K	$29K	30x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDT	0.0000%	8h	744.64	+0.037%	$362K	$1.5M	10x	as long as short
Variational Omni QQQ	+0.0002%	8h	744.38	+0.003%	$17.1M	$7.5M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0008%	1h	743.96	−0.054%	$1.2M	$536K	20x	as long as short
BloFin QQQ-USDT	+0.0026%	8h	744.30	−0.008%	$1.1M	$271K	20x	as long as short
Lighter QQQ	+0.0032%	1h	744.26	−0.014%	$7.7M	$16.3M	30x	as long as short
Binance QQQUSDT	+0.0040%	8h	744.46	+0.013%	$71.1M	$141.8M	25x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.76	−0.081%	$700K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.45	+0.146%	—	$337K	50x	as long as short
Lighter RH QQQ	+0.0048%	1h	744.72	+0.048%	$36.9M	$78.9M	50x	as long as short
Nado QQQ-PERP	+0.0096%	1h	744.09	−0.036%	$1.5M	$876K	20x	as long as short
KuCoin QQQUSDTMshort	+0.0100%	8h	744.11	−0.034%	$3.4M	$388K	20x
ApeX Omni QQQUSDT	+0.0100%	1h	744.11	−0.034%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.17	−0.026%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.63	−0.098%	$93K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0110%	8h	744.62	+0.035%	$319K	$1.9M	10x	as long as short
Phoenix QQQ	+0.0129%	1h	744.01	−0.047%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0315%	1h	744.40	+0.005%	$425K	$149K	20x	as long as short
edgeX QQQUSDClong	+0.0680%	4h	744.36	long leg	$761K	$334K	20x