Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0671%/8h= −73.5% APRpaid last 24h −0.115%

Price spread now: SunX against edgeX+0.097%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$810.811% of the position

Long on edgeX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.097%, 7d avg +0.067%

Together, before fees−0.153%+ Points / potential airdropedgeX: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.030% dearer against edgeX than usual: you sell high and buy low (spread +0.097% now, against its 7-day average of +0.067%): +$3 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.134% in total) that is about 38 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.134% in total (about -7.0% 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	edgeX QQQUSDC	742.55	0.0671	pay 0.0336% / 4h	54m 45s	$759K	$334K	20x
Short	SunX QQQ-USDT	743.27	0	get 0.0000% / 8h	4h 54m	$2K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$140.91
Price spread: +0.097% → +0.067%: $2.99
Slippage, 4 orders: −$64.11
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$219.03
Costs to cover: 0.811%
Break-even: never at this rate

Slippage from edgeX: live order book, 52 min ago; SunX: live order book, 14 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, 52 min ago	4.11 bp	8.7 bp −$9	9.8 bp −$98	doesn't fit	doesn't fit
Sell SunX live order book, 14 min ago	21.64 bp	38.2 bp −$38	67.8 bp −$678	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	742.79	+0.033%	$25K	—	26x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	742.57	+0.003%	$22.1M	$30.8M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	742.46	−0.012%	$5.5M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.06	−0.066%	$3.6M	$19.7M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.84	+0.039%	$17.0M	$5.9M	20x	as long as short
SunX QQQ-USDTshort	0.0000%	8h	743.27	+0.097%	$2K	$1.5M	10x
HTX QQQ-USDT	0.0000%	8h	742.87	+0.043%	$247K	$45K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.06	+0.069%	$360K	$1.7M	10x	as long as short
Aster QQQUSDT	+0.0003%	8h	742.56	+0.001%	$856K	$903K	20x	as long as short
Arcus QQQ-USD	+0.0004%	1h	741.58	−0.131%	$657K	$1.4M	25x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin QQQ-USDT	+0.0012%	8h	742.52	−0.004%	$1.1M	$241K	20x	as long as short
Ondo Perps QQQ-USD.P	+0.0013%	1h	741.38	−0.158%	$4.2M	$1.8M	20x	as long as short
Bybit QQQUSDT	+0.0029%	8h	742.64	+0.012%	$10.7M	$5.0M	50x	as long as short
Lighter QQQ	+0.0032%	1h	742.01	−0.073%	$7.2M	$16.1M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.71	+0.022%	$38.8M	$75.7M	50x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0033%	1h	742.20	−0.047%	$398K	$103K	20x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.53	+0.132%	—	$337K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	742.65	+0.013%	$1.2M	$538K	20x	as long as short
Variational Omni QQQ	+0.0076%	8h	742.48	−0.010%	$16.9M	$6.9M	—	as long as short
Binance QQQUSDT	+0.0096%	8h	742.82	+0.036%	$72.4M	$146.2M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.26	−0.039%	$3.4M	$504K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.16	−0.053%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.45	−0.014%	$12K	$21K	20x	as long as short
Nado QQQ-PERP	+0.0101%	1h	742.23	−0.044%	$1.6M	$775K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.93	−0.084%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0255%	8h	742.92	+0.050%	$319K	$2.1M	10x	as long as short
Phoenix QQQ	+0.0302%	1h	742.34	−0.028%	$38K	$59K	20x	as long as short
edgeX QQQUSDClong	+0.0671%	4h	742.55	long leg	$759K	$334K	20x