Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0090%/8h= +9.8% APRpaid last 24h −0.026%

Price spread now: Orderly against RISEx−0.059%7-day average — · you buy dearer than you sell

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

Long on RISEx Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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. Orderly is 0.059% cheaper against RISEx than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.2 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	RISEx QQQ/USDC	743.29	0.0010	pay 0.0001% / 1h	39m 20s	$5.4M	$7.3M	25x
Short	Orderly PERP_QQQ_USDC_mythos	742.85	0.0100	get 0.0100% / 8h	3h 39m	$12K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.059%Rate

Funding earned: $18.89
Price spread: −0.059% → 0.000%: −$5.88
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1.01
Costs to cover: 0.120%
Break-even: 6.6 days

Slippage unknown: RISEx: live order book, 5 min ago; Orderly: 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 RISEx live order book, 5 min ago	0.07 bp	3.1 bp −$3	3.3 bp −$33	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
GMX QQQ/USD [ETH-USDC]	L −0.0133% / S +0.0231%	1h	743.18	−0.014%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0041%	1h	742.40	−0.119%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	743.16	−0.018%	$840K	$714K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	743.03	−0.035%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	743.00	−0.039%	$21.4M	$26.9M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	742.88	−0.055%	$3.3M	$20.9M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	743.36	+0.010%	$16.9M	$5.5M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	743.22	−0.008%	$17.1M	$7.3M	—	as long as short
SunX QQQ-USDT	0.0000%	8h	743.77	+0.065%	$2K	$1.9M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	742.64	−0.087%	$1.2M	$536K	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDT	0.0000%	8h	743.57	+0.038%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	743.45	+0.022%	$359K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0006%	8h	743.11	−0.023%	$70.8M	$141.2M	25x	as long as short
RISEx QQQ/USDClong	+0.0010%	1h	743.29	long leg	$5.4M	$7.3M	25x
Deribit QQQ_USDC-PERPETUAL	+0.0019%	1h	743.04	−0.033%	$424K	$150K	20x	as long as short
BloFin QQQ-USDT	+0.0021%	8h	743.25	−0.005%	$1.1M	$256K	20x	as long as short
Lighter QQQ	+0.0032%	1h	743.10	−0.025%	$7.7M	$15.8M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	743.50	+0.029%	$37.0M	$78.7M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	742.68	−0.082%	$702K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	744.20	+0.123%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0072%	8h	743.44	+0.021%	$315K	$1.9M	10x	as long as short
Nado QQQ-PERP	+0.0091%	1h	742.94	−0.047%	$1.5M	$769K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	742.95	−0.045%	$3.4M	$339K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	743.28	−0.001%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythosshort	+0.0100%	8h	742.85	−0.059%	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	742.35	−0.127%	$92K	$1K	10x	as long as short
Phoenix QQQ	+0.0118%	1h	743.10	−0.025%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0938%	4h	743.35	+0.009%	$760K	$334K	20x	as long as short