Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against Phemex−0.114%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.175%+$18 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.114% cheaper against Phemex than usual: you would sell low and buy high (spread −0.114% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex QQQUSDT	744.13	0	get 0.0000% / 8h	6h 36m	$360K	$1.4M	10x
Short	Aevo QQQ-PERP	743.28	0.0104	get 0.0013% / 1h	36m 40s	$93K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.114%Rate

Funding earned: $21.84
Price spread: −0.114% → 0.000%: −$11.36
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$17.52
Costs to cover: 0.280%
Break-even: 12.6 days

Slippage unknown: Phemex: live order book, 1 min ago; Aevo: no order-book sample. Net counts fees only.

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 Phemex live order book, 1 min ago	2.82 bp	33.5 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0165%	1h	742.89	−0.167%	$4.2M	$1.9M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0097% / S +0.0202%	1h	744.05	−0.010%	$25K	—	26x	as long as short
Bybit QQQUSDT	0.0000%	8h	743.97	−0.022%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.76	−0.050%	$21.5M	$25.5M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	743.69	−0.059%	$3.2M	$21.6M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.61	+0.065%	$2K	$2.1M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.08	−0.007%	$257K	$29K	30x	as long as short
Phemex QQQUSDTlong	0.0000%	8h	744.13	long leg	$360K	$1.4M	10x
Aster QQQUSDT	+0.0010%	8h	744.00	−0.017%	$841K	$712K	20x	as long as short
BloFin QQQ-USDT	+0.0026%	8h	744.31	+0.024%	$1.1M	$319K	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	743.75	−0.051%	$7.7M	$17.7M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.18	+0.007%	$37.4M	$79.6M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.14	−0.133%	$703K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.03	+0.121%	—	$337K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	743.52	−0.082%	$1.2M	$535K	20x	as long as short
Variational Omni QQQ	+0.0065%	8h	744.04	−0.012%	$17.1M	$7.6M	—	as long as short
Bitget QQQUSDT	+0.0070%	8h	744.00	−0.017%	$16.9M	$5.9M	20x	as long as short
Binance QQQUSDT	+0.0087%	8h	744.00	−0.017%	$71.1M	$147.7M	25x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	743.78	−0.047%	$3.4M	$406K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.71	−0.056%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	743.82	−0.042%	$12K	$21K	20x	as long as short
Aevo QQQ-PERPshort	+0.0104%	1h	743.28	−0.114%	$93K	$1K	10x
Nado QQQ-PERP	+0.0121%	1h	743.76	−0.050%	$1.5M	$1.0M	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0127%	1h	743.79	−0.046%	$425K	$148K	20x	as long as short
RISEx QQQ/USDC	+0.0168%	1h	744.02	−0.015%	$5.4M	$8.1M	25x	as long as short
Phoenix QQQ	+0.0183%	1h	743.66	−0.063%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0230%	8h	744.26	+0.018%	$318K	$1.8M	10x	as long as short
edgeX QQQUSDC	+0.0751%	4h	743.92	−0.028%	$761K	$334K	20x	as long as short