Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.016%

Price spread now: Deribit against HTX−0.057%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.110%+$11 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now −0.057%, 7d avg −0.078%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.022% dearer against HTX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX QQQ-USDT	741.94	0	get 0.0000% / 8h	51m 17s	$250K	$41K	30x
Short	Deribit QQQ_USDC-PERPETUAL	741.52	0.0168	get 0.0021% / 1h	51m 17s	$424K	$155K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now −0.057%Rate

Funding earned: $35.33
Price spread: −0.057% → −0.078%: $2.19
Slippage, 4 orders: −$5.78
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $12.73
Costs to cover: 0.248%
Break-even: 4.5 days

Slippage from HTX: live order book, 50 min ago; Deribit: live order book, 52 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 HTX live order book, 50 min ago	2.69 bp	8.7 bp −$9	9.9 bp −$99	doesn't fit	doesn't fit
Sell Deribit live order book, 52 min ago	0.07 bp	3.8 bp −$4	5.8 bp −$58	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
GMX QQQ/USD [ETH-USDC]	L −0.0168% / S +0.0258%	1h	741.67	−0.036%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0135%	1h	740.39	−0.209%	$4.2M	$1.8M	20x	as long as short
Gate QQQ_USDT	−0.0067%	8h	741.25	−0.093%	$3.3M	$21.6M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.71	−0.031%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.68	−0.035%	$10.5M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.48	−0.062%	$21.4M	$28.2M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.45	−0.066%	$5.4M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.02	+0.011%	$16.5M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.69	−0.034%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.47	+0.071%	$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-USDTlong	0.0000%	8h	741.94	long leg	$250K	$41K	30x
Phemex QQQUSDT	0.0000%	8h	742.11	+0.023%	$362K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0004%	8h	741.76	−0.024%	$70.0M	$143.0M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.12	−0.111%	$1.2M	$486K	20x	as long as short
BloFin QQQ-USDT	+0.0026%	8h	741.47	−0.063%	$1.1M	$270K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.51	−0.058%	$7.7M	$15.2M	30x	as long as short
Lighter RH QQQ	+0.0040%	1h	741.93	−0.001%	$37.2M	$79.7M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.99	−0.128%	$674K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.66	+0.097%	—	$337K	50x	as long as short
edgeX QQQUSDC	+0.0088%	4h	741.64	−0.040%	$758K	$335K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.31	−0.085%	$3.4M	$355K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.21	−0.098%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.40	−0.073%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.89	−0.142%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0110%	1h	741.34	−0.081%	$1.6M	$760K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0121%	8h	741.93	−0.002%	$325K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUALshort	+0.0168%	1h	741.52	−0.057%	$424K	$155K	20x
Phoenix QQQ	+0.0227%	1h	741.27	−0.090%	$38K	$65K	20x	as long as short