Funding you earn now, next payment 01:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h +0.013%
Price spread now: Lighter against Coinbase International−0.016%7-day average +0.036% · you buy dearer than you sell
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$140.138% of the position
Funding, last 7 days−0.148%−$15 on $10k
+Price spread, last 3 days (all we have)−0.060%−$6 · spread now −0.016%, 7d avg +0.036%
=Together, before fees−0.208%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Lighter is 0.052% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.036%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International QQQ-PERP-INTX | 744.05 | 0.0048 | pay 0.0006% / 1h | 41m 06s | $1.2M | $538K | 20x |
| Short | Lighter QQQ | 743.93 | 0.0032 | get 0.0004% / 1h | 41m 06s | $7.7M | $17.7M | 30x |
Coinbase International QQQ-PERP-INTX
Lighter QQQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Coinbase International. 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
- −$3.36
- Price spread: −0.016% → +0.036%
- −$5.23
- Slippage, 4 orders
- −$3.82
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$22.4
- Costs to cover
- 0.138%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 2 min ago; Lighter: live order book, 13 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 Coinbase International live order book, 2 min ago | 0.07 bp | 7.1 bp −$7 | 8.5 bp −$85 | 40.1 bp −$4,012 | doesn't fit |
| Sell Lighter live order book, 13 min ago | 0.27 bp | 0.6 bp −$1 | 3.0 bp −$30 | 26.0 bp −$2,599 | 64.1 bp −$32.1K |
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 | −0.0178% | 1h | 743.00 | −0.141% | $4.2M | $2.0M | 20x | as long as short |
| GMX QQQ/USD [ETH-USDC] | L −0.0096% / S +0.0202% | 1h | 744.15 | +0.014% | $25K | — | 26x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 744.13 | +0.011% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.96 | −0.012% | $21.5M | $25.3M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.90 | −0.020% | $3.2M | $21.2M | 50x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.66 | +0.082% | $2K | $2.1M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 743.83 | −0.030% | $425K | $148K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 744.32 | +0.036% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 744.26 | +0.028% | $360K | $1.4M | 10x | as long as short |
| Aster QQQUSDT | +0.0013% | 8h | 744.15 | +0.013% | $841K | $712K | 20x | as long as short |
Ondo Perps QQQ-USD.P
GMX QQQ/USD [ETH-USDC]
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
SunX QQQ-USDT
Deribit QQQ_USDC-PERPETUAL
HTX QQQ-USDT
Phemex QQQUSDT
Aster QQQUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin QQQ-USDT | +0.0026% | 8h | 744.31 | +0.035% | $1.1M | $319K | 20x | as long as short |
| Lighter QQQshort | +0.0032% | 1h | 743.93 | −0.016% | $7.7M | $17.7M | 30x | |
| Lighter RH QQQ | +0.0032% | 1h | 744.35 | +0.040% | $37.3M | $79.5M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 743.34 | −0.095% | $747K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 745.12 | +0.144% | — | $356K | 50x | as long as short |
| Coinbase International QQQ-PERP-INTXlong | +0.0048% | 1h | 744.05 | long leg | $1.2M | $538K | 20x | |
| Variational Omni QQQ | +0.0065% | 8h | 744.04 | −0.001% | $17.1M | $7.6M | — | as long as short |
| Binance QQQUSDT | +0.0090% | 8h | 744.16 | +0.015% | $71.1M | $147.4M | 25x | as long as short |
| Bitget QQQUSDT | +0.0090% | 8h | 744.18 | +0.017% | $16.9M | $5.9M | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.90 | −0.020% | $3.4M | $406K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.76 | −0.039% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.87 | −0.024% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.41 | −0.086% | $93K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0121% | 1h | 743.79 | −0.035% | $1.5M | $1.0M | 20x | as long as short |
| RISEx QQQ/USDC | +0.0168% | 1h | 744.15 | +0.013% | $5.4M | $8.2M | 25x | as long as short |
| Phoenix QQQ | +0.0183% | 1h | 743.78 | −0.036% | $38K | $66K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0257% | 8h | 744.49 | +0.059% | $319K | $1.8M | 10x | as long as short |
| edgeX QQQUSDC | +0.0480% | 4h | 744.13 | +0.011% | $761K | $333K | 20x | as long as short |
BloFin QQQ-USDT
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Variational Omni QQQ
Binance QQQUSDT
Bitget QQQUSDT
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
RISEx QQQ/USDC
Phoenix QQQ
GRVT QQQ_USDT_Perp
edgeX QQQUSDC