QQQ

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0186%/8h= −20.4% APRnext payment −$0.23 per $10,000 · paid last 24h −0.009%

Price spread now: Coinbase International against Deribit+0.051%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.051%, 7d avg −0.009%

Together, before fees+0.067%+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.060% dearer against Deribit than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.009%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 26 hours.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.046% in total (about 3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.23 per $10,000. 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	Deribit QQQ_USDC-PERPETUAL	739.64	0.0210	pay 0.0026% / 1h	31m 48s	$423K	$136K	20x
Short	Coinbase International QQQ-PERP-INTX	740.02	0.0024	get 0.0003% / 1h	31m 48s	$1.2M	$495K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$39.04
Price spread: +0.051% → −0.009%: $5.99
Slippage, 4 orders: −$4.57
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$54.61
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Coinbase International: live order book, 2 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 Deribit live order book, 2 min ago	0.07 bp	3.6 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	0.95 bp	5.9 bp −$6	7.4 bp −$74	35.4 bp −$3,541	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 −0.0185% / S +0.0271%	1h	739.97	+0.044%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	739.90	+0.035%	$822K	$869K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	739.88	+0.032%	$10.6M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	739.59	−0.007%	$21.5M	$28.2M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	739.84	+0.027%	$5.4M	$5.7M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	739.48	−0.022%	$3.4M	$20.6M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	739.94	+0.041%	$16.5M	$5.1M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	740.40	+0.103%	$2K	$1.7M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	740.35	+0.096%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	740.24	+0.081%	$363K	$1.6M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni QQQ	+0.0002%	8h	740.22	+0.079%	$16.7M	$7.2M	—	as long as short
Coinbase International QQQ-PERP-INTXshort	+0.0024%	1h	740.02	+0.051%	$1.2M	$495K	20x
BloFin QQQ-USDT	+0.0028%	8h	740.01	+0.050%	$1.1M	$274K	20x	as long as short
Binance QQQUSDT	+0.0031%	8h	739.89	+0.034%	$70.1M	$139.9M	25x	as long as short
Lighter QQQ	+0.0032%	1h	739.56	−0.011%	$7.6M	$15.3M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	739.96	+0.043%	$37.5M	$79.7M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	739.15	−0.066%	$646K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	740.87	+0.166%	—	$337K	50x	as long as short
Ondo Perps QQQ-USD.P	+0.0050%	1h	739.25	−0.053%	$4.2M	$1.8M	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	739.55	−0.012%	$3.4M	$384K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	739.84	+0.027%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	739.74	+0.014%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	739.26	−0.051%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0154%	1h	739.52	−0.017%	$1.6M	$744K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0186%	8h	740.44	+0.108%	$326K	$2.0M	10x	as long as short
Deribit QQQ_USDC-PERPETUALlong	+0.0210%	1h	739.64	long leg	$423K	$136K	20x
Phoenix QQQ	+0.0248%	1h	739.82	+0.024%	$38K	$65K	20x	as long as short
edgeX QQQUSDC	+0.0774%	4h	740.23	+0.079%	$757K	$336K	20x	as long as short