Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.012%

Price spread now: Deribit against SunX−0.083%7-day average −0.105% · 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−$74as in the Price arb table

costs, in and out, $10k−$760.763% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.106%+$11 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.083%, 7d avg −0.105%

Together, before fees+0.078%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.022% dearer against SunX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX QQQ-USDT	744.92	0	get 0.0000% / 8h	5h 03m	$2K	$1.9M	10x
Short	Deribit QQQ_USDC-PERPETUAL	744.30	0.0126	get 0.0016% / 1h	3m 02s	$425K	$149K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.083%Rate

Funding earned: $26.53
Price spread: −0.083% → −0.105%: $2.19
Slippage, 4 orders: −$61.29
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$47.57
Costs to cover: 0.763%
Break-even: 19.6 days

Slippage from SunX: live order book, 3 min ago; Deribit: live order book, 61 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 SunX live order book, 3 min ago	21.61 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 61 min ago	0.07 bp	9.0 bp −$9	10.5 bp −$105	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 −0.0116% / S +0.0217%	1h	744.48	−0.060%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0075%	1h	743.24	−0.226%	$4.2M	$1.8M	20x	as long as short
BloFin QQQ-USDT	−0.0010%	8h	744.38	−0.072%	$1.1M	$271K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	744.43	−0.065%	$841K	$714K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.60	−0.043%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.36	−0.075%	$21.5M	$26.8M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	744.54	−0.051%	$5.4M	$7.5M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	744.01	−0.122%	$3.3M	$21.2M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.60	−0.043%	$16.9M	$5.7M	20x	as long as short
SunX QQQ-USDTlong	0.0000%	8h	744.92	long leg	$2K	$1.9M	10x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX QQQ-USDT	0.0000%	8h	744.78	−0.019%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.77	−0.020%	$360K	$1.5M	10x	as long as short
Variational Omni QQQ	+0.0018%	8h	744.37	−0.074%	$17.1M	$7.5M	—	as long as short
Lighter QQQ	+0.0032%	1h	744.32	−0.081%	$7.7M	$17.2M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.76	−0.021%	$37.1M	$80.8M	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0032%	1h	743.92	−0.134%	$1.2M	$535K	20x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.61	−0.176%	$695K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.48	+0.075%	—	$337K	50x	as long as short
Binance QQQUSDT	+0.0052%	8h	744.46	−0.061%	$71.2M	$142.6M	25x	as long as short
Nado QQQ-PERP	+0.0083%	1h	744.13	−0.106%	$1.5M	$876K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	744.17	−0.101%	$3.4M	$403K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	744.22	−0.094%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.23	−0.093%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.68	−0.166%	$93K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0122%	8h	744.71	−0.028%	$322K	$1.9M	10x	as long as short
Deribit QQQ_USDC-PERPETUALshort	+0.0126%	1h	744.30	−0.083%	$425K	$149K	20x
Phoenix QQQ	+0.0161%	1h	744.14	−0.105%	$38K	$66K	20x	as long as short
edgeX QQQUSDC	+0.0453%	4h	744.45	−0.063%	$761K	$335K	20x	as long as short