Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0107%/8h= +11.7% APRpaid last 24h −0.001%

Price spread now: SunX against GMX+0.060%7-day average — · you sell dearer than you buy

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

Long on GMX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SunX is 0.060% dearer against GMX than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX QQQ/USD [ETH-USDC]	744.18	L −0.0107% / S +0.0210%	get 0.0013% / 1h	49m 06s	$25K	—	26x
Short	SunX QQQ-USDT	744.63	0	get 0.0000% / 8h	5h 49m	$2K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.060%Rate

Funding earned: $22.38
Price spread: +0.060% → 0.000%: $5.98
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: $8.36
Costs to cover: 0.200%
Break-even: 4.4 days

Slippage unknown: GMX: no order-book sample; SunX: live order book, 17 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 SunX live order book, 17 min ago	11.06 bp	48.2 bp −$48	doesn't fit	doesn't fit	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 27 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
GMX QQQ/USD [ETH-USDC]long	L −0.0107% / S +0.0210%	1h	744.18	long leg	$25K	—	26x
Aster QQQUSDT	0.0000%	8h	744.13	−0.007%	$841K	$713K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.18	−0.001%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.14	−0.006%	$21.7M	$26.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.29	+0.014%	$5.4M	$7.5M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.81	−0.050%	$3.3M	$20.6M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.46	+0.037%	$16.9M	$5.8M	20x	as long as short
SunX QQQ-USDTshort	0.0000%	8h	744.63	+0.060%	$2K	$2.0M	10x
HTX QQQ-USDT	0.0000%	8h	744.24	+0.007%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.56	+0.050%	$361K	$1.4M	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX QQQUSDC	+0.0005%	4h	744.28	+0.013%	$761K	$334K	20x	as long as short
Ondo Perps QQQ-USD.P	+0.0009%	1h	743.42	−0.103%	$4.2M	$1.9M	20x	as long as short
Lighter QQQ	+0.0032%	1h	743.87	−0.042%	$7.7M	$17.1M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.29	+0.014%	$37.3M	$78.5M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	743.74	−0.060%	$1.2M	$534K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.43	−0.101%	$705K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.15	+0.130%	—	$337K	50x	as long as short
Variational Omni QQQ	+0.0049%	8h	744.19	+0.001%	$17.1M	$7.5M	—	as long as short
Binance QQQUSDT	+0.0074%	8h	744.03	−0.021%	$71.1M	$144.5M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.89	−0.040%	$3.4M	$414K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.99	−0.026%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.89	−0.040%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.37	−0.110%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0115%	1h	743.89	−0.040%	$1.5M	$923K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0140%	1h	743.96	−0.030%	$425K	$149K	20x	as long as short
Phoenix QQQ	+0.0161%	1h	743.80	−0.052%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0165%	8h	744.45	+0.036%	$322K	$1.9M	10x	as long as short