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updated —QQQ Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−2.02%
7d Period Avg+5.24%
swing±26.23%
LONG Ondo · nowQQQ-USD.P
+5.52%
7d avg:+4.96%
SHORT Lighter Robinhood · nowQQQ-USDG
+3.51%
7d avg:+10.20%
Entry Spread Now
+0.139%
In your favorL ask 675.0900 · S bid 676.0300+$13.92 at entry
24h range +0.00%…+0.18% · median +0.12%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.035%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$1.70
−0.02%
$Avg Daily PnL
+$1.43
+0.0143%
★Best Day
+$4.42
Nov 9
◎Open Interest
Ondo$2.44M
Lighter Robinhood$26.51M⚡Funding APR
+5.23%
annualized · funding only
⚠Execution Cost
−$11.73
entry + exit fees
⏱Payback
8.2d
to break even
◧24h Volume
Ondo$1.23MLighter Robinhood$49.77MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$11.73 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.