Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h −0.015%
Price spread now: Lighter RH against Deribit+0.085%7-day average +0.035% · 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−$8as in the Price arb table
costs, in and out, $10k−$130.127% of the position
Funding, last 5 days (all we have)−0.051%−$5 on $10k
+Price spread, last 3 days (all we have)−0.063%−$6 · spread now +0.085%, 7d avg +0.035%
=Together, before fees−0.115%+ Points / potential airdropLighter RH: Points live · farm board−$11 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.050% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.035%. Mind the row above: over the last 5 days funding on this pair cost −0.051%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit QQQ_USDC-PERPETUAL | 741.88 | 0 | get 0.0000% / 1h | 47m 19s | $424K | $305K | 20x |
| Short | Lighter RH QQQ | 742.51 | 0.0032 | get 0.0004% / 1h | 47m 19s | $37.7M | $81.1M | 50x |
Deribit QQQ_USDC-PERPETUAL
Lighter RH QQQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Deribit. 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: +0.085% → +0.035%
- $5.04
- Slippage, 4 orders
- −$5.73
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$0.98
- Costs to cover
- 0.127%
- Break-even
- 8.0 days
Slippage from Deribit: live order book, 36 min ago; Lighter RH: 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, 36 min ago | 0.07 bp | 3.6 bp −$4 | 4.2 bp −$42 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 2 min ago | 0.14 bp | 0.1 bp $0 | 0.4 bp −$4 | 6.3 bp −$635 | 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 −0.0066% / S +0.0178% | 1h | 742.22 | +0.045% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0023% | 1h | 741.25 | −0.085% | $4.2M | $2.2M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0006% | 8h | 742.10 | +0.030% | $1.0M | $483K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 742.03 | +0.020% | $21.5M | $28.3M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 741.96 | +0.011% | $3.1M | $32.8M | 50x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 742.66 | +0.105% | $2K | $2.4M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUALlong | 0.0000% | 1h | 741.88 | long leg | $424K | $305K | 20x | |
| HTX QQQ-USDT | 0.0000% | 8h | 742.63 | +0.101% | $257K | $32K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 742.63 | +0.101% | $361K | $1.4M | 10x | as long as short |
| Aster QQQUSDT | +0.0006% | 8h | 741.98 | +0.013% | $840K | $780K | 20x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
BloFin QQQ-USDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
SunX QQQ-USDT
HTX QQQ-USDT
Phemex QQQUSDT
Aster QQQUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter QQQ | +0.0032% | 1h | 742.18 | +0.040% | $7.8M | $21.5M | 30x | as long as short |
| Lighter RH QQQshort | +0.0032% | 1h | 742.51 | +0.085% | $37.7M | $81.1M | 50x | |
| Arcus QQQ-USD | +0.0040% | 1h | 741.46 | −0.057% | $737K | $1.4M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 742.80 | +0.124% | — | $621K | 50x | as long as short |
| Variational Omni QQQ | +0.0064% | 8h | 742.23 | +0.047% | $17.2M | $10.1M | — | as long as short |
| Binance QQQUSDT | +0.0086% | 8h | 742.24 | +0.049% | $69.6M | $163.0M | 25x | as long as short |
| Bybit QQQUSDT | +0.0086% | 8h | 742.39 | +0.069% | $10.7M | $5.4M | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0088% | 1h | 741.68 | −0.027% | $1.2M | $873K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 741.80 | −0.011% | $3.4M | $440K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 741.96 | +0.011% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 741.19 | −0.093% | $7K | $16K | 20x | as long as short |
| edgeX QQQUSDC | +0.0103% | 4h | 742.22 | +0.046% | $759K | $336K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 741.61 | −0.037% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0166% | 1h | 741.79 | −0.013% | $1.5M | $1.3M | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0187% | 8h | 742.41 | +0.071% | $323K | $1.7M | 10x | as long as short |
| Bitget QQQUSDT | +0.0220% | 8h | 742.30 | +0.057% | $16.7M | $7.3M | 20x | as long as short |
| Phoenix QQQ | +0.0259% | 1h | 741.88 | 0.000% | $38K | $73K | 20x | as long as short |
| RISEx QQQ/USDC | +0.0315% | 1h | 742.43 | +0.074% | $5.4M | $9.3M | 25x | as long as short |
Lighter QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Variational Omni QQQ
Binance QQQUSDT
Bybit QQQUSDT
Coinbase International QQQ-PERP-INTX
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
edgeX QQQUSDC
Aevo QQQ-PERP
Nado QQQ-PERP
GRVT QQQ_USDT_Perp
Bitget QQQUSDT
Phoenix QQQ
RISEx QQQ/USDC