Nasdaq 100 ETF (QQQ)
Perp: QQQ on INTX · Hedge: QQQ (ETF)
Hedge construction note: QQQ (ETF) is used as a hedge proxy for Nasdaq 100 ETF; treat it as a research reference, not an ordinary executable quote for the underlying market.
This is a transformed/normalized reference, not an ordinary executable quote.
Funding (ann.)
+129.0%
Basis
+0.53%
Open interest
$2,860,877
Status
delayed
Research note: meets research condition
Funding rate — annualized, 6040 settlement snapshots
Timezone: UTC · Units: % annualized · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-10-31T10:15:05+00:00
Basis — (perp mark − hedge) / hedge
Timezone: UTC · Units: % · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-10-31T10:15:05+00:00
Open interest — historical liquidity
Timezone: UTC · Units: USD notional · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-10-31T10:15:05+00:00
Persistence
34% of snapshots over the trailing 168h met the research condition: FR >= 20% APR, 7-day window.
Relevant paper trades
| Opened | Direction | Status | Net P&L | All-in P&L | Close reason |
|---|---|---|---|---|---|
| 2026-10-15 14:18 UTC | short_hl_long_ib | closed | +$131.52 | +$138.50 | emergency FR=-54% |
| 2026-09-03 13:33 UTC | short_hl_long_ib | closed | +$72.50 | +$79.31 | max hold 30d exceeded |
| 2026-07-27 17:18 UTC | short_hl_long_ib | closed | +$146.87 | — | max hold 30d exceeded |
| 2026-06-23 14:01 UTC | short_hl_long_ib | closed | +$79.58 | — | max hold 30d exceeded |
Known limitations
- The hedge leg only trades during its market's own hours; the perp trades 24/7 — see Methodology for how naked-leg windows are handled.
- Funding and basis figures are delayed, not real-time — see the status strip at the top of every page.
- QQQ (ETF) is used as a hedge proxy for Nasdaq 100 ETF; treat it as a research reference, not an ordinary executable quote for the underlying market.