Funding you earn now, next payment 00:00 UTC+0.0254%/8h= +27.8% APRpaid last 24h −0.007%
Price spread now: Phoenix against Bybit−0.059%46s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.189%+$19 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Phoenix is 0.059% cheaper against Bybit than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 19 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.189% in total) that is about 2.2 days. 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 | Bybit QQQUSDT | 744.27 | 0.0005 | pay 0.0005% / 8h | 7h 32m | $10.7M | $4.9M | 50x |
| Short | Phoenix QQQ | 743.83 | 0.0258 | get 0.0032% / 1h | 32m 38s | $38K | $66K | 20x |
Bybit QQQUSDT
Phoenix QQQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $53.3
- Price spread: −0.059% → 0.000%
- −$5.91
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $29.39
- Costs to cover
- 0.180%
- Break-even
- 3.1 days
Slippage unknown: Bybit: live order book, 6 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 Bybit live order book, 6 min ago | 0.87 bp | 8.3 bp −$8 | 12.6 bp −$126 | 81.4 bp −$8,144 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps QQQ-USD.P | −0.0366% | 1h | 742.76 | −0.203% | $4.2M | $2.0M | 20x | as long as short |
| GMX QQQ/USD [ETH-USDC] | L −0.0085% / S +0.0193% | 1h | 744.15 | −0.015% | $25K | — | 26x | as long as short |
| BloFin QQQ-USDT | −0.0025% | 8h | 744.01 | −0.035% | $1.1M | $318K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 743.97 | −0.041% | $841K | $739K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 744.10 | −0.023% | $21.5M | $25.0M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.95 | −0.043% | $3.2M | $27.5M | 50x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.60 | +0.044% | $2K | $2.2M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 744.40 | +0.017% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 744.53 | +0.035% | $362K | $1.4M | 10x | as long as short |
| Bybit QQQUSDTlong | +0.0005% | 8h | 744.27 | long leg | $10.7M | $4.9M | 50x |
Ondo Perps QQQ-USD.P
GMX QQQ/USD [ETH-USDC]
BloFin QQQ-USDT
Aster QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter QQQ | +0.0032% | 1h | 744.06 | −0.028% | $7.6M | $18.2M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 744.47 | +0.027% | $37.3M | $79.8M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 743.47 | −0.107% | $747K | $1.5M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 744.68 | +0.055% | — | $306K | 50x | as long as short |
| Variational Omni QQQ | +0.0046% | 8h | 744.16 | −0.015% | $17.1M | $9.8M | — | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0064% | 1h | 743.73 | −0.073% | $1.2M | $547K | 20x | as long as short |
| Binance QQQUSDT | +0.0074% | 8h | 744.29 | +0.002% | $71.1M | $152.0M | 25x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.86 | −0.055% | $3.4M | $411K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.83 | −0.059% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.92 | −0.047% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.36 | −0.123% | $93K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0112% | 1h | 743.78 | −0.066% | $1.5M | $1.2M | 20x | as long as short |
| Bitget QQQUSDT | +0.0173% | 8h | 744.22 | −0.007% | $16.9M | $6.6M | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0180% | 1h | 744.02 | −0.034% | $425K | $147K | 20x | as long as short |
| RISEx QQQ/USDC | +0.0208% | 1h | 744.31 | +0.005% | $5.5M | $8.6M | 25x | as long as short |
| Phoenix QQQshort | +0.0258% | 1h | 743.83 | −0.059% | $38K | $66K | 20x | |
| GRVT QQQ_USDT_Perp | +0.0273% | 8h | 744.30 | +0.004% | $316K | $1.8M | 10x | as long as short |
| edgeX QQQUSDC | +0.0458% | 4h | 744.12 | −0.020% | $761K | $336K | 20x | as long as short |
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Variational Omni QQQ
Coinbase International QQQ-PERP-INTX
Binance QQQUSDT
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
Bitget QQQUSDT
Deribit QQQ_USDC-PERPETUAL
RISEx QQQ/USDC
GRVT QQQ_USDT_Perp
edgeX QQQUSDC