Funding arb · Price arb /

QQQ

RWAall QQQ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.043%

Price spread now: RISEx against Phemex−0.063%7-day average −0.007% · 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−$75as in the Price arb table

costs, in and out, $10k−$700.699% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.200%+$20 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.063%, 7d avg −0.007%

Together, before fees+0.249%+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: RISEx is 0.056% cheaper against Phemex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex QQQUSDT	742.15	0	get 0.0000% / 8h	1h 24m	$365K	$1.6M	10x
Short	RISEx QQQ/USDC	741.68	0	get 0.0000% / 1h	24m 29s	$5.5M	$6.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.063%Rate

Funding earned: $0
Price spread: −0.063% → −0.007%: −$5.61
Slippage, 4 orders: −$51.89
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$75.5
Costs to cover: 0.699%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; RISEx: live order book, 5 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 Phemex live order book, 4 min ago	2.69 bp	31.7 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 5 min ago	0.27 bp	4.9 bp −$5	5.0 bp −$50	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 −0.0161% / S +0.0253%	1h	741.98	−0.024%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0029%	8h	741.25	−0.121%	$3.3M	$21.5M	50x	as long as short
Aster QQQUSDT	0.0000%	8h	741.92	−0.032%	$823K	$858K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.90	−0.034%	$10.5M	$5.2M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.75	−0.054%	$21.4M	$28.4M	50x	as long as short
RISEx QQQ/USDCshort	0.0000%	1h	741.68	−0.063%	$5.5M	$6.3M	25x
Bitget QQQUSDT	0.0000%	8h	742.01	−0.019%	$16.6M	$5.4M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.98	−0.024%	$16.9M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	742.83	+0.092%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.14	−0.001%	$251K	$41K	30x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDTlong	0.0000%	8h	742.15	long leg	$365K	$1.6M	10x
Ondo Perps QQQ-USD.P	+0.0001%	1h	740.66	−0.201%	$4.2M	$1.8M	20x	as long as short
Binance QQQUSDT	+0.0003%	8h	741.94	−0.028%	$70.0M	$144.5M	25x	as long as short
BloFin QQQ-USDT	+0.0004%	8h	741.75	−0.054%	$1.1M	$271K	20x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.55	−0.081%	$1.2M	$550K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.72	−0.058%	$7.7M	$15.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.06	−0.012%	$37.0M	$80.6M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.15	−0.135%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.90	+0.101%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.48	−0.090%	$3.4M	$353K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.57	−0.078%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.68	−0.063%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.20	−0.128%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0116%	8h	742.17	+0.003%	$322K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0131%	1h	741.48	−0.091%	$1.5M	$764K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0141%	1h	741.68	−0.063%	$424K	$154K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.63	−0.070%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0573%	4h	741.92	−0.031%	$759K	$334K	20x	as long as short