Funding you earn now, next payment 08:00 UTC+0.0248%/8h= +27.2% APRpaid last 24h +0.021%
Price spread now: Phoenix against Aster−0.044%105s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.153%+$15 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Funding pays, the price is against you. Phoenix is 0.044% cheaper against Aster than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 14 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.153% in total) that is about 2.0 days. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.153% in total (about 8.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aster QQQUSDT | 740.75 | 0 | get 0.0000% / 8h | 7h 49m | $823K | $865K | 20x |
| Short | Phoenix QQQ | 740.42 | 0.0248 | get 0.0031% / 1h | 49m 40s | $38K | $65K | 20x |
Aster QQQUSDT
Phoenix QQQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Aster. 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
- $52.13
- Price spread: −0.044% → 0.000%
- −$4.39
- Slippage, 4 orders
- no order book: not counted
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $32.74
- Costs to cover
- 0.150%
- Break-even
- 2.6 days
Slippage unknown: Aster: live order book, 48 min ago; Phoenix: no order-book sample. 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 Aster live order book, 48 min ago | 0.07 bp | 5.2 bp −$5 | 5.9 bp −$59 | 40.7 bp −$4,070 | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 −0.0181% / S +0.0268% | 1h | 740.74 | −0.001% | $25K | — | 26x | as long as short |
| BloFin QQQ-USDT | −0.0022% | 8h | 740.91 | +0.022% | $1.1M | $274K | 20x | as long as short |
| Aster QQQUSDTlong | 0.0000% | 8h | 740.75 | long leg | $823K | $865K | 20x | |
| Bybit QQQUSDT | 0.0000% | 8h | 741.00 | +0.034% | $10.7M | $4.9M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 740.68 | −0.009% | $21.6M | $28.3M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 740.79 | +0.005% | $5.4M | $5.8M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 740.28 | −0.063% | $3.4M | $20.5M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 740.85 | +0.014% | $16.5M | $5.2M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 741.01 | +0.036% | $16.8M | $7.2M | — | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 741.10 | +0.048% | $2K | $1.7M | 10x | as long as short |
GMX QQQ/USD [ETH-USDC]
BloFin QQQ-USDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
Variational Omni QQQ
SunX QQQ-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX QQQ-USDT | 0.0000% | 8h | 741.13 | +0.052% | $250K | $41K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 741.01 | +0.036% | $361K | $1.6M | 10x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0024% | 1h | 740.05 | −0.094% | $1.2M | $489K | 20x | as long as short |
| Binance QQQUSDT | +0.0027% | 8h | 740.88 | +0.018% | $70.2M | $140.0M | 25x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 740.73 | −0.002% | $7.7M | $15.0M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 741.06 | +0.043% | $37.5M | $78.9M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 740.05 | −0.094% | $646K | $1.7M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 741.68 | +0.126% | — | $337K | 50x | as long as short |
| Ondo Perps QQQ-USD.P | +0.0050% | 1h | 740.14 | −0.082% | $4.2M | $1.8M | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0063% | 8h | 741.14 | +0.053% | $326K | $2.0M | 10x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 740.49 | −0.034% | $3.4M | $369K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 740.52 | −0.030% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 740.40 | −0.047% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 740.02 | −0.097% | $92K | $1K | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0142% | 1h | 740.45 | −0.040% | $423K | $157K | 20x | as long as short |
| Nado QQQ-PERP | +0.0148% | 1h | 740.56 | −0.025% | $1.6M | $744K | 20x | as long as short |
| edgeX QQQUSDC | +0.0210% | 4h | 740.86 | +0.015% | $757K | $335K | 20x | as long as short |
| Phoenix QQQshort | +0.0248% | 1h | 740.42 | −0.044% | $38K | $65K | 20x |
HTX QQQ-USDT
Phemex QQQUSDT
Coinbase International QQQ-PERP-INTX
Binance QQQUSDT
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Ondo Perps QQQ-USD.P
GRVT QQQ_USDT_Perp
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Deribit QQQ_USDC-PERPETUAL
Nado QQQ-PERP
edgeX QQQUSDC