Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.014%
Price spread now: Phemex against Bybit+0.052%53s7-day average +0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$860.858% of the position
Funding, last 7 days−0.040%−$4 on $10k
+Price spread, last 4 days (all we have)+0.006%+$1 · spread now +0.052%, 7d avg +0.016%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.036% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.016%. The two prices were read 53 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 | Bybit QQQUSDT | 743.15 | 0 | get 0.0000% / 8h | 3h 20m | $10.7M | $5.0M | 50x |
| Short | Phemex QQQUSDT | 743.54 | 0 | get 0.0000% / 8h | 3h 20m | $363K | $1.6M | 10x |
Bybit QQQUSDT
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bybit. 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
- $0
- Price spread: +0.052% → +0.016%
- $3.61
- Slippage, 4 orders
- −$62.85
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$82.23
- Costs to cover
- 0.858%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; Phemex: live order book, 3 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 Bybit live order book, 3 min ago | 0.07 bp | 7.9 bp −$8 | 12.2 bp −$122 | 77.5 bp −$7,752 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 2.09 bp | 31.8 bp −$32 | doesn't fit | doesn't fit | 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 −0.0137% / S +0.0234% | 1h | 743.16 | +0.002% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0034% | 1h | 742.36 | −0.106% | $4.2M | $1.8M | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 743.00 | −0.020% | $840K | $857K | 20x | as long as short |
| Binance QQQUSDT | 0.0000% | 8h | 743.14 | −0.001% | $70.3M | $142.3M | 25x | as long as short |
| Bybit QQQUSDTlong | 0.0000% | 8h | 743.15 | long leg | $10.7M | $5.0M | 50x | |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.02 | −0.017% | $21.5M | $27.2M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 742.58 | −0.077% | $3.3M | $21.2M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.33 | +0.024% | $16.9M | $5.5M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 743.17 | +0.003% | $17.1M | $7.3M | — | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 743.66 | +0.069% | $2K | $1.9M | 10x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
Aster QQQUSDT
Binance QQQUSDT
OKX QQQ-USDT-SWAP
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International QQQ-PERP-INTX | 0.0000% | 1h | 742.64 | −0.069% | $1.2M | $537K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 744.11 | +0.129% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDTshort | 0.0000% | 8h | 743.54 | +0.052% | $363K | $1.6M | 10x | |
| BloFin QQQ-USDT | +0.0002% | 8h | 743.12 | −0.004% | $1.1M | $256K | 20x | as long as short |
| RISEx QQQ/USDC | +0.0010% | 1h | 743.27 | +0.016% | $5.4M | $7.3M | 25x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 743.05 | −0.013% | $7.7M | $15.8M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 743.45 | +0.040% | $37.0M | $79.4M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 742.31 | −0.113% | $704K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 744.11 | +0.129% | — | $337K | 50x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0067% | 8h | 743.31 | +0.021% | $321K | $1.9M | 10x | as long as short |
| Nado QQQ-PERP | +0.0078% | 1h | 742.84 | −0.042% | $1.5M | $746K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 742.90 | −0.034% | $3.4M | $340K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 742.74 | −0.055% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 742.99 | −0.022% | $12K | $21K | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0100% | 1h | 743.03 | −0.016% | $424K | $151K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.38 | −0.104% | $92K | $1K | 10x | as long as short |
| Phoenix QQQ | +0.0118% | 1h | 742.68 | −0.063% | $38K | $66K | 20x | as long as short |
| edgeX QQQUSDC | +0.0448% | 4h | 742.90 | −0.033% | $760K | $335K | 20x | as long as short |
Coinbase International QQQ-PERP-INTX
HTX QQQ-USDT
BloFin QQQ-USDT
RISEx QQQ/USDC
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
GRVT QQQ_USDT_Perp
Nado QQQ-PERP
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Deribit QQQ_USDC-PERPETUAL
Aevo QQQ-PERP
Phoenix QQQ
edgeX QQQUSDC