Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%
Price spread now: Phemex against Coinbase International+0.114%7-day average +0.098% · you sell dearer than you buy
Net, funding: paid 7d − costs−$102as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$780.779% of the position
Funding, last 7 days−0.238%−$24 on $10k
+Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.114%, 7d avg +0.098%
=The price spread sits at its 7-day average of +0.098%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International QQQ-PERP-INTX | 743.92 | 0.0032 | pay 0.0004% / 1h | 3m 42s | $1.2M | $535K | 20x |
| Short | Phemex QQQUSDT | 744.77 | 0 | get 0.0000% / 8h | 5h 03m | $360K | $1.5M | 10x |
Coinbase International QQQ-PERP-INTX
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$6.72
- Price spread: +0.114% → +0.098%
- $1.63
- Slippage, 4 orders
- −$55.92
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$83.01
- Costs to cover
- 0.779%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 5 min ago; Phemex: 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 Coinbase International live order book, 5 min ago | 0.07 bp | 6.3 bp −$6 | 7.8 bp −$78 | 34.0 bp −$3,397 | doesn't fit |
| Sell Phemex live order book, 4 min ago | 1.21 bp | 32.2 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 −0.0116% / S +0.0217% | 1h | 744.53 | +0.083% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0075% | 1h | 743.24 | −0.091% | $4.2M | $1.8M | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 744.43 | +0.069% | $841K | $714K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 744.56 | +0.086% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 744.36 | +0.059% | $21.5M | $26.9M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 744.61 | +0.093% | $5.4M | $7.5M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 744.02 | +0.013% | $3.3M | $21.2M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 744.59 | +0.090% | $16.9M | $5.7M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.98 | +0.142% | $2K | $1.9M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 744.78 | +0.116% | $257K | $29K | 30x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
Aster QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
SunX QQQ-USDT
HTX QQQ-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex QQQUSDTshort | 0.0000% | 8h | 744.77 | +0.114% | $360K | $1.5M | 10x | |
| BloFin QQQ-USDT | +0.0007% | 8h | 744.37 | +0.060% | $1.1M | $281K | 20x | as long as short |
| Variational Omni QQQ | +0.0018% | 8h | 744.37 | +0.060% | $17.1M | $7.5M | — | as long as short |
| Lighter QQQ | +0.0032% | 1h | 744.30 | +0.051% | $7.7M | $17.2M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 744.75 | +0.112% | $37.1M | $80.8M | 50x | as long as short |
| Coinbase International QQQ-PERP-INTXlong | +0.0032% | 1h | 743.92 | long leg | $1.2M | $535K | 20x | |
| Arcus QQQ-USD | +0.0040% | 1h | 743.62 | −0.040% | $695K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 745.52 | +0.215% | — | $337K | 50x | as long as short |
| Binance QQQUSDT | +0.0052% | 8h | 744.47 | +0.073% | $71.2M | $142.7M | 25x | as long as short |
| Nado QQQ-PERP | +0.0082% | 1h | 744.27 | +0.047% | $1.5M | $876K | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0099% | 1h | 744.27 | +0.047% | $425K | $149K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 744.18 | +0.035% | $3.4M | $403K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 744.09 | +0.023% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 744.21 | +0.039% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.70 | −0.030% | $93K | $1K | 10x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0122% | 8h | 744.53 | +0.081% | $322K | $1.9M | 10x | as long as short |
| Phoenix QQQ | +0.0161% | 1h | 744.07 | +0.020% | $38K | $66K | 20x | as long as short |
| edgeX QQQUSDC | +0.0314% | 4h | 744.40 | +0.064% | $761K | $335K | 20x | as long as short |
BloFin QQQ-USDT
Variational Omni QQQ
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Binance QQQUSDT
Nado QQQ-PERP
Deribit QQQ_USDC-PERPETUAL
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
GRVT QQQ_USDT_Perp
Phoenix QQQ
edgeX QQQUSDC