Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0203%/8h= +22.2% APRpaid last 24h +0.022%

Price spread now: OKX against GMX−0.011%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX QQQ/USD [ETH-USDC]	741.91	L −0.0203% / S +0.0285%	get 0.0025% / 1h	49m 09s	$25K	—	26x
Short	OKX QQQ-USDT-SWAP	741.83	0	get 0.0000% / 8h	4h 49m	$22.1M	$31.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against GMX. 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 GMXbpFee OKXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $42.57
Price spread: −0.011% → 0.000%: −$1.15
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $19.42
Costs to cover: 0.220%
Break-even: 3.8 days

Slippage unknown: GMX: no order-book sample; OKX: live order book, 3 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.07 bp	5.1 bp −$5	6.3 bp −$63	13.9 bp −$1,394	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]long	L −0.0203% / S +0.0285%	1h	741.91	long leg	$25K	—	26x
BloFin QQQ-USDT	−0.0021%	8h	742.00	+0.011%	$1.1M	$241K	20x	as long as short
OKX QQQ-USDT-SWAPshort	0.0000%	8h	741.83	−0.011%	$22.1M	$31.0M	50x
RISEx QQQ/USDC	0.0000%	1h	741.74	−0.024%	$5.5M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.33	−0.079%	$3.6M	$19.8M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.00	+0.011%	$17.0M	$6.0M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	742.47	+0.075%	$2K	$1.5M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	743.02	+0.149%	$247K	$45K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.26	+0.047%	$359K	$1.7M	10x	as long as short
Ondo Perps QQQ-USD.P	+0.0004%	1h	740.58	−0.180%	$4.2M	$1.8M	20x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus QQQ-USD	+0.0004%	1h	740.95	−0.130%	$652K	$1.4M	25x	as long as short
Aster QQQUSDT	+0.0007%	8h	742.10	+0.025%	$855K	$915K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0020%	1h	741.44	−0.064%	$398K	$103K	20x	as long as short
Bybit QQQUSDT	+0.0020%	8h	741.85	−0.009%	$10.9M	$5.1M	50x	as long as short
Lighter QQQ	+0.0032%	1h	741.32	−0.080%	$7.2M	$16.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.02	+0.014%	$38.8M	$76.0M	50x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	743.01	+0.148%	—	$337K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	741.21	−0.095%	$1.2M	$583K	20x	as long as short
Variational Omni QQQ	+0.0078%	8h	742.62	+0.095%	$16.9M	$6.9M	—	as long as short
Binance QQQUSDT	+0.0099%	8h	742.06	+0.020%	$72.4M	$147.7M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.48	−0.059%	$3.4M	$508K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.18	+0.036%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.53	−0.052%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.18	−0.099%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0117%	1h	741.23	−0.092%	$1.6M	$776K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0257%	8h	742.95	+0.139%	$319K	$2.1M	10x	as long as short
edgeX QQQUSDC	+0.0258%	4h	742.62	+0.095%	$759K	$336K	20x	as long as short
Phoenix QQQ	+0.0409%	1h	741.53	−0.052%	$38K	$59K	20x	as long as short