Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0945%/8h= +103.5% APRpaid last 24h +0.021%

Price spread now: edgeX against Lighter RH−0.065%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$180.181% of the position

Long on Lighter RH Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now −0.065%, 7d avg +0.004%

Together, before fees+0.065%+ Points / potential airdropLighter RH: Points live · edgeX: Active · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.068% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of +0.004%). If the spread goes back, that is −$7 on $10k: about 6 hours of funding at the current rate (+$28 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.015% in total (about -0.8% 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	Lighter RH QQQ	744.59	0.0048	pay 0.0006% / 1h	9m 20s	$37.0M	$79.8M	50x
Short	edgeX QQQUSDC	744.11	0.0993	get 0.0497% / 4h	9m 20s	$761K	$334K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter RH. 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 Lighter RHbpFee edgeXbpOrdersPrice spread, now −0.065%Rate

Funding earned: $198.46
Price spread: −0.065% → +0.004%: −$6.84
Slippage, 4 orders: −$9.1
Fee Lighter RH: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $173.52
Costs to cover: 0.181%
Break-even: 0.9 days

Slippage from Lighter RH: live order book, 5 min ago; edgeX: live order book, 49 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 Lighter RH live order book, 5 min ago	0.27 bp	0.4 bp $0	0.7 bp −$7	6.3 bp −$631	doesn't fit
Sell edgeX live order book, 49 min ago	4.16 bp	8.7 bp −$9	9.8 bp −$98	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	−0.0131%	1h	743.24	−0.181%	$4.2M	$1.8M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0127% / S +0.0226%	1h	744.34	−0.034%	$25K	—	26x	as long as short
BloFin QQQ-USDT	0.0000%	8h	744.14	−0.060%	$1.1M	$261K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	744.27	−0.043%	$841K	$714K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.29	−0.040%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.09	−0.067%	$21.5M	$26.9M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.36	−0.031%	$5.4M	$7.4M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.77	−0.110%	$3.3M	$20.8M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.45	−0.019%	$16.9M	$5.7M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	744.11	−0.065%	$17.1M	$7.4M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	744.79	+0.027%	$2K	$1.9M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.65	+0.008%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.73	+0.019%	$361K	$1.5M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0008%	1h	743.80	−0.106%	$1.2M	$536K	20x	as long as short
Binance QQQUSDT	+0.0024%	8h	744.33	−0.035%	$71.0M	$141.5M	25x	as long as short
Lighter QQQ	+0.0032%	1h	744.15	−0.059%	$7.7M	$16.4M	30x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0032%	1h	744.06	−0.071%	$425K	$150K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.59	−0.134%	$698K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.28	+0.093%	—	$337K	50x	as long as short
Lighter RH QQQlong	+0.0048%	1h	744.59	long leg	$37.0M	$79.8M	50x
GRVT QQQ_USDT_Perp	+0.0091%	8h	744.38	−0.029%	$316K	$1.9M	10x	as long as short
Nado QQQ-PERP	+0.0095%	1h	743.95	−0.086%	$1.5M	$830K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.91	−0.091%	$3.4M	$363K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.89	−0.094%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.02	−0.077%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.50	−0.147%	$93K	$1K	10x	as long as short
Phoenix QQQ	+0.0129%	1h	743.93	−0.089%	$38K	$66K	20x	as long as short
edgeX QQQUSDCshort	+0.0993%	4h	744.11	−0.065%	$761K	$334K	20x