Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.012%

Price spread now: HTX against Lighter RH−0.001%7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

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

costs, in and out, $10k−$190.189% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.120%−$12 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.001%, 7d avg +0.042%

Together, before fees−0.113%+ Points / potential airdropLighter RH: Points live · farm board−$11 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 HTX is 0.043% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH QQQ	743.40	0.0032	pay 0.0004% / 1h	7m 28s	$37.0M	$81.0M	50x
Short	HTX QQQ-USDT	743.39	0	get 0.0000% / 8h	2h 07m	$251K	$41K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$6.72
Price spread: −0.001% → +0.042%: −$4.35
Slippage, 4 orders: −$6.93
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$30
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; HTX: live order book, 39 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, 2 min ago	0.47 bp	1.1 bp −$1	2.0 bp −$20	10.0 bp −$1,004	doesn't fit
Sell HTX live order book, 39 min ago	2.69 bp	8.7 bp −$9	15.5 bp −$155	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 −0.0153% / S +0.0246%	1h	743.25	−0.020%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0006%	1h	742.19	−0.163%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0004%	8h	742.84	−0.075%	$1.1M	$278K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.86	−0.073%	$824K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	743.25	−0.020%	$70.0M	$145.1M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	743.26	−0.019%	$10.6M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.04	−0.048%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	743.13	−0.036%	$5.4M	$6.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.52	−0.118%	$3.3M	$21.4M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.30	−0.013%	$16.6M	$5.6M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QQQ	0.0000%	8h	743.18	−0.029%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	743.64	+0.032%	$2K	$1.8M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.77	−0.085%	$1.2M	$541K	20x	as long as short
HTX QQQ-USDTshort	0.0000%	8h	743.39	−0.001%	$251K	$41K	30x
Phemex QQQUSDT	0.0000%	8h	743.54	+0.019%	$360K	$1.6M	10x	as long as short
Lighter QQQ	+0.0032%	1h	743.09	−0.042%	$7.6M	$15.8M	30x	as long as short
Lighter RH QQQlong	+0.0032%	1h	743.40	long leg	$37.0M	$81.0M	50x
Arcus QQQ-USD	+0.0040%	1h	742.20	−0.161%	$689K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.13	+0.098%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0095%	8h	743.38	−0.003%	$316K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.84	−0.075%	$3.4M	$364K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	742.75	−0.087%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	742.96	−0.059%	$12K	$21K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0100%	1h	742.97	−0.058%	$424K	$152K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	742.40	−0.134%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0121%	1h	742.77	−0.084%	$1.5M	$749K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	742.79	−0.082%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0987%	4h	743.21	−0.026%	$760K	$334K	20x	as long as short