Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.009%

Price spread now: Deribit against OKX−0.016%7-day average −0.050% · 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−$16as in the Price arb table

costs, in and out, $10k−$200.197% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.098%+$10 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now −0.016%, 7d avg −0.050%

Together, before fees+0.059%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.034% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX QQQ-USDT-SWAP	744.00	0	get 0.0000% / 8h	7h 21m	$21.4M	$25.3M	50x
Short	Deribit QQQ_USDC-PERPETUAL	743.88	0.0046	get 0.0006% / 1h	21m 50s	$425K	$147K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now −0.016%Rate

Funding earned: $9.62
Price spread: −0.016% → −0.050%: $3.43
Slippage, 4 orders: −$2.7
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$6.65
Costs to cover: 0.197%
Break-even: 11.8 days

Slippage from OKX: live order book, 2 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 OKX live order book, 2 min ago	0.07 bp	5.1 bp −$5	6.0 bp −$60	12.8 bp −$1,280	doesn't fit
Sell Deribit live order book, 52 min ago	1.28 bp	4.8 bp −$5	5.7 bp −$57	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	−0.0343%	1h	742.70	−0.175%	$4.2M	$2.0M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0087% / S +0.0195%	1h	744.21	+0.028%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0001%	8h	744.17	+0.023%	$1.1M	$318K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.23	+0.031%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAPlong	0.0000%	8h	744.00	long leg	$21.4M	$25.3M	50x
Gate QQQ_USDT	0.0000%	8h	743.88	−0.016%	$3.2M	$28.0M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.75	+0.101%	$2K	$2.2M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	745.42	+0.191%	$258K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.50	+0.067%	$362K	$1.4M	10x	as long as short
Aster QQQUSDT	+0.0004%	8h	744.19	+0.025%	$841K	$714K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter QQQ	+0.0032%	1h	743.93	−0.009%	$7.7M	$18.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.33	+0.044%	$37.4M	$80.3M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.70	−0.040%	$747K	$1.5M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.74	+0.099%	—	$306K	50x	as long as short
Deribit QQQ_USDC-PERPETUALshort	+0.0046%	1h	743.88	−0.016%	$425K	$147K	20x
Variational Omni QQQ	+0.0052%	8h	744.72	+0.097%	$17.1M	$9.6M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0064%	1h	744.24	+0.032%	$1.2M	$550K	20x	as long as short
Binance QQQUSDT	+0.0081%	8h	744.20	+0.027%	$71.1M	$152.1M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.84	−0.022%	$3.4M	$410K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	744.53	+0.071%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.97	−0.004%	$12K	$21K	20x	as long as short
Nado QQQ-PERP	+0.0103%	1h	743.85	−0.020%	$1.5M	$1.2M	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.43	−0.077%	$93K	$1K	10x	as long as short
Bitget QQQUSDT	+0.0175%	8h	744.26	+0.035%	$16.9M	$6.3M	20x	as long as short
RISEx QQQ/USDC	+0.0208%	1h	744.23	+0.031%	$5.4M	$8.6M	25x	as long as short
Phoenix QQQ	+0.0258%	1h	744.20	+0.027%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0318%	8h	744.89	+0.119%	$316K	$1.8M	10x	as long as short
edgeX QQQUSDC	+0.0971%	4h	744.68	+0.091%	$761K	$336K	20x	as long as short