Funding you earn now, next payment 09:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.007%
Price spread now: Binance against Arcus+0.091%46s7-day average +0.155% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$200.200% of the position
Funding, last 4 days (all we have)−0.100%−$10 on $10k
+Price spread, last 7 days+0.030%+$3 · spread now +0.091%, 7d avg +0.155%
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Binance is 0.065% cheaper against Arcus than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.155%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus QQQ-USD | 739.71 | 0.0040 | pay 0.0005% / 1h | 38m 52s | $646K | $1.7M | 25x |
| Short | Binance QQQUSDT | 740.38 | 0.0030 | get 0.0030% / 8h | 7h 38m | $70.0M | $139.7M | 25x |
Arcus QQQ-USD
Binance QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Arcus. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$2.17
- Price spread: +0.091% → +0.155%
- −$6.48
- Slippage, 4 orders
- −$5.48
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$28.63
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 5 min ago; Binance: live order book, 4 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 Arcus live order book, 5 min ago | 0.61 bp | 4.6 bp −$5 | 5.3 bp −$53 | 13.8 bp −$1,378 | doesn't fit |
| Sell Binance live order book, 4 min ago | 0.07 bp | 5.1 bp −$5 | 5.8 bp −$58 | 10.7 bp −$1,070 | 31.9 bp −$15.9K |
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 −0.0183% / S +0.0270% | 1h | 740.54 | +0.113% | $25K | — | 26x | as long as short |
| BloFin QQQ-USDT | −0.0014% | 8h | 740.22 | +0.069% | $1.1M | $274K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 740.37 | +0.090% | $822K | $864K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 740.12 | +0.055% | $21.6M | $28.2M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 740.31 | +0.081% | $5.4M | $5.7M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 739.85 | +0.019% | $3.4M | $20.6M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 740.42 | +0.096% | $16.5M | $5.1M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 740.95 | +0.168% | $2K | $1.7M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 740.70 | +0.134% | $250K | $41K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 740.56 | +0.115% | $362K | $1.6M | 10x | as long as short |
GMX QQQ/USD [ETH-USDC]
BloFin QQQ-USDT
Aster QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
SunX QQQ-USDT
HTX QQQ-USDT
Phemex QQQUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni QQQ | +0.0001% | 8h | 740.33 | +0.084% | $16.7M | $7.2M | — | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0024% | 1h | 739.68 | −0.004% | $1.2M | $492K | 20x | as long as short |
| Binance QQQUSDTshort | +0.0030% | 8h | 740.38 | +0.091% | $70.0M | $139.7M | 25x | |
| Lighter QQQ | +0.0032% | 1h | 740.12 | +0.055% | $7.7M | $15.2M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 740.47 | +0.103% | $37.5M | $79.5M | 50x | as long as short |
| Bybit QQQUSDT | +0.0033% | 8h | 740.42 | +0.096% | $10.7M | $5.0M | 50x | as long as short |
| Arcus QQQ-USDlong | +0.0040% | 1h | 739.71 | long leg | $646K | $1.7M | 25x | |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 741.39 | +0.227% | — | $337K | 50x | as long as short |
| Ondo Perps QQQ-USD.P | +0.0050% | 1h | 739.23 | −0.065% | $4.2M | $1.8M | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0088% | 1h | 740.20 | +0.066% | $423K | $157K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 740.01 | +0.041% | $3.4M | $379K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 739.96 | +0.034% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 740.26 | +0.074% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 739.70 | −0.002% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0151% | 1h | 740.07 | +0.049% | $1.6M | $742K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0194% | 8h | 740.77 | +0.143% | $326K | $2.0M | 10x | as long as short |
| Phoenix QQQ | +0.0248% | 1h | 740.22 | +0.069% | $38K | $65K | 20x | as long as short |
| edgeX QQQUSDC | +0.0604% | 4h | 740.36 | +0.088% | $757K | $334K | 20x | as long as short |
Variational Omni QQQ
Coinbase International QQQ-PERP-INTX
Lighter QQQ
Lighter RH QQQ
Bybit QQQUSDT
Vest QQQ-USD-PERP
Ondo Perps QQQ-USD.P
Deribit QQQ_USDC-PERPETUAL
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
GRVT QQQ_USDT_Perp
Phoenix QQQ
edgeX QQQUSDC