Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.026%

Price spread now: Bybit against RISEx+0.032%45s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.219% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.186%−$19 on $10k

Price spread, last 7 days−0.027%−$3 · spread now +0.032%, 7d avg +0.002%

Together, before fees−0.213%−$21 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: Bybit is 0.030% dearer against RISEx than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.002%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx QQQ/USDC	741.49	0	get 0.0000% / 1h	6m 55s	$5.4M	$5.9M	25x
Short	Bybit QQQUSDT	741.73	0	get 0.0000% / 8h	6m 55s	$10.7M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → +0.002%: $3.04
Slippage, 4 orders: −$4.85
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$18.81
Costs to cover: 0.219%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Bybit: live order book, 1 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 RISEx live order book, 2 min ago	0.14 bp	3.4 bp −$3	3.7 bp −$37	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.07 bp	7.6 bp −$8	8.9 bp −$89	39.4 bp −$3,936	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 −0.0177% / S +0.0265%	1h	741.75	+0.034%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0123%	1h	740.66	−0.112%	$4.2M	$1.8M	20x	as long as short
Gate QQQ_USDT	−0.0094%	8h	741.22	−0.036%	$3.3M	$21.7M	50x	as long as short
BloFin QQQ-USDT	−0.0019%	8h	741.34	−0.020%	$1.1M	$274K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.74	+0.034%	$824K	$864K	20x	as long as short
Bybit QQQUSDTshort	0.0000%	8h	741.73	+0.032%	$10.7M	$5.0M	50x
OKX QQQ-USDT-SWAP	0.0000%	8h	741.56	+0.009%	$21.5M	$28.4M	50x	as long as short
RISEx QQQ/USDClong	0.0000%	1h	741.49	long leg	$5.4M	$5.9M	25x
Bitget QQQUSDT	0.0000%	8h	741.88	+0.053%	$16.5M	$5.3M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.57	+0.011%	$16.8M	$7.2M	—	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	742.04	+0.074%	$2K	$1.7M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	741.34	−0.020%	$424K	$156K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.03	+0.073%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.00	+0.069%	$358K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.14	−0.047%	$1.2M	$487K	20x	as long as short
Binance QQQUSDT	+0.0025%	8h	741.77	+0.037%	$70.3M	$140.6M	25x	as long as short
Lighter QQQ	+0.0032%	1h	741.53	+0.005%	$7.7M	$15.4M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	741.88	+0.053%	$37.4M	$81.5M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.84	−0.088%	$647K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.64	+0.155%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.32	−0.023%	$3.4M	$356K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.13	−0.049%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.43	−0.008%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	740.98	−0.069%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0140%	1h	741.27	−0.029%	$1.6M	$744K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0144%	8h	741.77	+0.038%	$314K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0227%	1h	741.17	−0.043%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0942%	4h	741.62	+0.017%	$758K	$335K	20x	as long as short