Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.032%
Price spread now: Phemex against Lighter+0.051%7-day average +0.061% · you sell dearer than you buy
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$610.613% of the position
Funding, last 7 days−0.089%−$9 on $10k
+Price spread, last 3 days (all we have)+0.079%+$8 · spread now +0.051%, 7d avg +0.061%
=Together, before fees−0.010%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.061%, 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 | Lighter QQQ | 742.18 | 0.0032 | pay 0.0004% / 1h | 47m 41s | $7.8M | $21.5M | 30x |
| Short | Phemex QQQUSDT | 742.56 | 0 | get 0.0000% / 8h | 1h 47m | $362K | $1.4M | 10x |
Lighter QQQ
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Lighter. 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: +0.051% → +0.061%
- −$1
- Slippage, 4 orders
- −$49.33
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$69.05
- Costs to cover
- 0.613%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; Phemex: live order book, 5 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, 6 min ago | 0.34 bp | 0.5 bp $0 | 2.1 bp −$21 | 13.2 bp −$1,325 | 48.3 bp −$24.2K |
| Sell Phemex live order book, 5 min ago | 2.96 bp | 31.0 bp −$31 | 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 −0.0065% / S +0.0178% | 1h | 742.13 | −0.007% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0023% | 1h | 741.25 | −0.125% | $4.2M | $2.2M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0006% | 8h | 742.10 | −0.011% | $1.0M | $483K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 742.14 | −0.005% | $21.5M | $28.3M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 741.97 | −0.028% | $3.1M | $32.8M | 50x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 742.54 | +0.049% | $1K | $2.4M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 741.79 | −0.053% | $424K | $305K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 742.63 | +0.061% | $257K | $32K | 30x | as long as short |
| Phemex QQQUSDTshort | 0.0000% | 8h | 742.56 | +0.051% | $362K | $1.4M | 10x | |
| Aster QQQUSDT | +0.0006% | 8h | 742.00 | −0.025% | $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
Deribit QQQ_USDC-PERPETUAL
HTX QQQ-USDT
Aster QQQUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter QQQlong | +0.0032% | 1h | 742.18 | long leg | $7.8M | $21.5M | 30x | |
| Lighter RH QQQ | +0.0032% | 1h | 742.51 | +0.044% | $37.7M | $81.1M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 741.46 | −0.097% | $737K | $1.4M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 742.63 | +0.061% | — | $621K | 50x | as long as short |
| Variational Omni QQQ | +0.0064% | 8h | 742.23 | +0.007% | $17.2M | $10.1M | — | as long as short |
| Binance QQQUSDT | +0.0086% | 8h | 742.22 | +0.005% | $69.6M | $163.0M | 25x | as long as short |
| Bybit QQQUSDT | +0.0086% | 8h | 742.32 | +0.019% | $10.7M | $5.4M | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0088% | 1h | 741.80 | −0.051% | $1.2M | $873K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 741.79 | −0.053% | $3.4M | $440K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 741.87 | −0.042% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 741.19 | −0.133% | $7K | $16K | 20x | as long as short |
| edgeX QQQUSDC | +0.0103% | 4h | 742.22 | +0.005% | $759K | $336K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 741.45 | −0.098% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0163% | 1h | 741.92 | −0.035% | $1.5M | $1.3M | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0187% | 8h | 742.41 | +0.031% | $323K | $1.7M | 10x | as long as short |
| Bitget QQQUSDT | +0.0220% | 8h | 742.16 | −0.003% | $16.7M | $7.3M | 20x | as long as short |
| Phoenix QQQ | +0.0259% | 1h | 741.88 | −0.040% | $38K | $73K | 20x | as long as short |
| RISEx QQQ/USDC | +0.0315% | 1h | 742.43 | +0.034% | $5.4M | $9.3M | 25x | as long as short |
Lighter RH 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