QQQ

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0204%/8h= +22.3% APRnext payment +$0.25 per $10,000 · paid last 24h −0.002%

Price spread now: Deribit against Lighter+0.005%7-day average −0.029% · 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−$110.112% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.041%+$4 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.005%, 7d avg −0.029%

Together, before fees+0.042%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.034% dearer against Lighter than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.029%.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.041% in total (about 3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 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	Lighter QQQ	741.65	0.0032	pay 0.0004% / 1h	15m 11s	$7.7M	$15.4M	30x
Short	Deribit QQQ_USDC-PERPETUAL	741.69	0.0236	get 0.0029% / 1h	15m 11s	$424K	$156K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now +0.005%Rate

Funding earned: $42.76
Price spread: +0.005% → −0.029%: $3.4
Slippage, 4 orders: −$4.15
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $35
Costs to cover: 0.112%
Break-even: 1.3 days

Slippage from Lighter: live order book, 8 min ago; Deribit: live order book, 24 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 Lighter live order book, 8 min ago	0.34 bp	1.1 bp −$1	2.3 bp −$23	13.2 bp −$1,315	48.8 bp −$24.4K
Sell Deribit live order book, 24 min ago	0.07 bp	6.2 bp −$6	7.6 bp −$76	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 −0.0176% / S +0.0264%	1h	741.87	+0.029%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0155%	1h	740.43	−0.164%	$4.2M	$1.8M	20x	as long as short
Gate QQQ_USDT	−0.0090%	8h	741.22	−0.058%	$3.3M	$21.7M	50x	as long as short
BloFin QQQ-USDT	−0.0026%	8h	741.60	−0.007%	$1.1M	$275K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	741.86	+0.028%	$824K	$863K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.83	+0.024%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.59	−0.008%	$21.4M	$28.3M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.57	−0.011%	$5.4M	$5.9M	25x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.01	+0.049%	$16.5M	$5.3M	20x	as long as short
Variational Omni QQQ	0.0000%	8h	741.75	+0.013%	$16.8M	$7.2M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	742.14	+0.066%	$2K	$1.7M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.05	+0.054%	$251K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.36	+0.096%	$359K	$1.6M	10x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0016%	1h	741.15	−0.067%	$1.2M	$489K	20x	as long as short
Binance QQQUSDT	+0.0022%	8h	741.86	+0.028%	$70.3M	$141.1M	25x	as long as short
Lighter QQQlong	+0.0032%	1h	741.65	long leg	$7.7M	$15.4M	30x
Lighter RH QQQ	+0.0032%	1h	741.99	+0.046%	$37.2M	$81.0M	50x	as long as short
Arcus QQQ-USD	+0.0040%	1h	740.97	−0.092%	$647K	$1.7M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	742.75	+0.148%	—	$337K	50x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.39	−0.035%	$3.4M	$351K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.29	−0.049%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.54	−0.015%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.08	−0.077%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0137%	1h	741.27	−0.051%	$1.6M	$748K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0140%	8h	741.92	+0.036%	$314K	$2.0M	10x	as long as short
Phoenix QQQ	+0.0227%	1h	741.45	−0.027%	$38K	$65K	20x	as long as short
Deribit QQQ_USDC-PERPETUALshort	+0.0236%	1h	741.69	+0.005%	$424K	$156K	20x
edgeX QQQUSDC	+0.0752%	4h	741.76	+0.015%	$758K	$337K	20x	as long as short