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% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Bybit against Variational Omni−0.007%7-day average +0.021% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$2 on $10k

Price spread, last 7 days−0.003%$0 · spread now −0.007%, 7d avg +0.021%

Together, before fees−0.018%+ Points / potential airdropVariational Omni: Active · farm board−$2 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 0.028% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni QQQ	741.86	0	get 0.0000% / 8h	1h 14m	$16.9M	$7.3M	—
Short	Bybit QQQUSDT	741.80	0	get 0.0000% / 8h	1h 14m	$10.5M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.007%Rate

Funding earned: $0
Price spread: −0.007% → +0.021%: −$2.8
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$13.8
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Bybit: live order book, 4 min ago. 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 Variational Omni RFQ quote, 5 min ago	1.89 bp	doesn't fit	2.4 bp −$24	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.34 bp	7.7 bp −$8	8.8 bp −$88	77.3 bp −$7,730	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 −0.0163% / S +0.0254%	1h	741.88	+0.003%	$25K	—	26x	as long as short
Gate QQQ_USDT	−0.0040%	8h	741.36	−0.067%	$3.4M	$21.6M	50x	as long as short
BloFin QQQ-USDT	−0.0021%	8h	741.78	−0.010%	$1.1M	$271K	20x	as long as short
Ondo Perps QQQ-USD.P	−0.0009%	1h	741.10	−0.102%	$4.2M	$1.8M	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.83	−0.003%	$823K	$858K	20x	as long as short
Bybit QQQUSDTshort	0.0000%	8h	741.80	−0.007%	$10.5M	$5.2M	50x
OKX QQQ-USDT-SWAP	0.0000%	8h	741.59	−0.036%	$21.5M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.61	−0.033%	$5.5M	$6.3M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	741.94	+0.011%	$16.5M	$5.5M	20x	as long as short
Variational Omni QQQlong	0.0000%	8h	741.86	long leg	$16.9M	$7.3M	—

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	742.68	+0.111%	$2K	$1.8M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.09	+0.032%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.08	+0.030%	$362K	$1.6M	10x	as long as short
Binance QQQUSDT	+0.0004%	8h	741.87	+0.002%	$70.0M	$144.4M	25x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.35	−0.068%	$1.2M	$489K	20x	as long as short
Lighter QQQ	+0.0032%	1h	741.69	−0.022%	$7.7M	$15.5M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.02	+0.022%	$37.1M	$81.2M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	741.15	−0.095%	$686K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.83	+0.131%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.50	−0.048%	$3.4M	$355K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.75	−0.014%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.52	−0.045%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.05	−0.109%	$92K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0119%	8h	742.25	+0.053%	$322K	$2.0M	10x	as long as short
Nado QQQ-PERP	+0.0124%	1h	741.50	−0.048%	$1.6M	$769K	20x	as long as short
Phoenix QQQ	+0.0205%	1h	741.63	−0.030%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0222%	1h	741.63	−0.030%	$424K	$155K	20x	as long as short
edgeX QQQUSDC	+0.0566%	4h	742.09	+0.032%	$759K	$336K	20x	as long as short