Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.012%
Price spread now: Phemex against Lighter RH+0.013%7-day average +0.057% · you sell dearer than you buy
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$69as in the Price arb table
costs, in and out, $10k−$650.650% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 4 days (all we have)+0.167%+$17 · spread now +0.013%, 7d avg +0.057%
=Together, before fees+0.046%+ Points / potential airdropLighter RH: Points live · farm board+$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.043% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.057%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH QQQ | 744.24 | 0.0032 | pay 0.0004% / 1h | 27m 54s | $37.3M | $79.4M | 50x |
| Short | Phemex QQQUSDT | 744.34 | 0 | get 0.0000% / 8h | 5h 27m | $363K | $1.5M | 10x |
Lighter RH QQQ
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Lighter RH. 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: +0.013% → +0.057%
- −$4.33
- Slippage, 4 orders
- −$53
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$76.05
- Costs to cover
- 0.650%
- Break-even
- never at this rate
Slippage from Lighter RH: 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 RH live order book, 6 min ago | 0.07 bp | 0.1 bp $0 | 0.2 bp −$2 | 5.6 bp −$559 | doesn't fit |
| Sell Phemex live order book, 5 min ago | 0.67 bp | 29.3 bp −$29 | 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 −0.0111% / S +0.0213% | 1h | 744.00 | −0.032% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0047% | 1h | 742.94 | −0.175% | $4.2M | $1.8M | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 744.00 | −0.033% | $841K | $713K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 744.10 | −0.019% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.95 | −0.039% | $21.7M | $26.3M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 744.07 | −0.022% | $5.4M | $7.5M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.63 | −0.082% | $3.3M | $21.1M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 744.38 | +0.019% | $16.9M | $5.7M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.44 | +0.027% | $2K | $2.0M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 743.67 | −0.077% | $425K | $149K | 20x | 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
Deribit QQQ_USDC-PERPETUALShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX QQQ-USDT | 0.0000% | 8h | 744.48 | +0.032% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDTshort | 0.0000% | 8h | 744.34 | +0.013% | $363K | $1.5M | 10x | |
| BloFin QQQ-USDT | +0.0020% | 8h | 744.28 | +0.005% | $1.1M | $303K | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 743.75 | −0.066% | $7.7M | $17.1M | 30x | as long as short |
| Lighter RH QQQlong | +0.0032% | 1h | 744.24 | long leg | $37.3M | $79.4M | 50x | |
| Coinbase International QQQ-PERP-INTX | +0.0032% | 1h | 743.51 | −0.098% | $1.2M | $534K | 20x | as long as short |
| Variational Omni QQQ | +0.0035% | 8h | 744.15 | −0.012% | $17.1M | $7.5M | — | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 743.19 | −0.141% | $694K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 745.03 | +0.106% | — | $337K | 50x | as long as short |
| Binance QQQUSDT | +0.0064% | 8h | 744.01 | −0.031% | $71.2M | $143.4M | 25x | as long as short |
| Nado QQQ-PERP | +0.0088% | 1h | 743.63 | −0.082% | $1.5M | $923K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.76 | −0.064% | $3.4M | $406K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.97 | −0.036% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.76 | −0.064% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.22 | −0.138% | $92K | $1K | 10x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0144% | 8h | 744.41 | +0.023% | $319K | $1.9M | 10x | as long as short |
| Phoenix QQQ | +0.0161% | 1h | 743.78 | −0.062% | $38K | $66K | 20x | as long as short |
| edgeX QQQUSDC | +0.0872% | 4h | 744.12 | −0.016% | $761K | $335K | 20x | as long as short |
HTX QQQ-USDT
BloFin QQQ-USDT
Lighter QQQ
Coinbase International QQQ-PERP-INTX
Variational Omni QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Binance QQQUSDT
Nado QQQ-PERP
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
GRVT QQQ_USDT_Perp
Phoenix QQQ
edgeX QQQUSDC