Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.012%

Price spread now: Gate against Lighter RH−0.106%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$210.209% of the position

Long on Lighter RH Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 7 days+0.106%+$11 · spread now −0.106%, 7d avg −0.004%

Together, before fees−0.025%+ Points / potential airdropLighter RH: Points live · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.102% cheaper against Lighter RH than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH QQQ	741.99	0.0040	pay 0.0005% / 1h	39m 32s	$36.9M	$80.0M	50x
Short	Gate QQQ_USDT	741.20	−0.0004	pay 0.0004% / 8h	1h 39m	$3.3M	$21.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.106%Rate

Funding earned: −$9.24
Price spread: −0.106% → −0.004%: −$10.21
Slippage, 4 orders: −$5.9
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$40.34
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; Gate: live order book, 4 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	0.14 bp	0.8 bp −$1	1.3 bp −$13	7.5 bp −$753	doesn't fit
Sell Gate live order book, 4 min ago	0.27 bp	8.3 bp −$8	11.8 bp −$118	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 −0.0158% / S +0.0250%	1h	741.87	−0.017%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0025%	1h	740.80	−0.160%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0011%	8h	741.77	−0.030%	$1.1M	$278K	20x	as long as short
Gate QQQ_USDTshort	−0.0004%	8h	741.20	−0.106%	$3.3M	$21.5M	50x
Aster QQQUSDT	0.0000%	8h	741.77	−0.030%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.80	−0.026%	$10.5M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.56	−0.058%	$21.4M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.62	−0.050%	$5.5M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.92	−0.009%	$16.6M	$5.6M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.78	−0.029%	$16.9M	$7.3M	—	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	742.31	+0.043%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	741.96	−0.004%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.00	+0.001%	$361K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0002%	8h	741.84	−0.020%	$70.1M	$145.1M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.73	−0.035%	$1.2M	$550K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.57	−0.057%	$7.6M	$15.4M	30x	as long as short
Lighter RH QQQlong	+0.0040%	1h	741.99	long leg	$36.9M	$80.0M	50x
Arcus QQQ-USD	+0.0040%	1h	740.98	−0.136%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.75	+0.102%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.44	−0.074%	$3.4M	$352K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.39	−0.081%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.55	−0.059%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.07	−0.124%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0112%	8h	742.02	+0.004%	$318K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0146%	1h	741.38	−0.082%	$1.5M	$763K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.56	−0.058%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0317%	1h	741.69	−0.040%	$424K	$154K	20x	as long as short
edgeX QQQUSDC	+0.0920%	4h	741.78	−0.028%	$758K	$334K	20x	as long as short