Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against Orderly+0.085%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Phemex is 0.085% dearer against Orderly than usual: you sell high and buy low (spread +0.085% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.8 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_QQQ_USDC_mythos | 741.51 | 0.0100 | pay 0.0100% / 8h | 11m 50s | $12K | $21K | 20x |
| Short | Phemex QQQUSDT | 742.14 | 0 | get 0.0000% / 8h | 11m 50s | $362K | $1.6M | 10x |
Orderly PERP_QQQ_USDC_mythos
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Orderly. 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
- −$21
- Price spread: +0.085% → 0.000%
- $8.5
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$30.5
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 1 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 1 min ago | 2.76 bp | 31.3 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 741.88 | +0.051% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0150% | 1h | 741.01 | −0.067% | $4.2M | $1.8M | 20x | as long as short |
| Gate QQQ_USDT | −0.0092% | 8h | 741.25 | −0.035% | $3.3M | $21.7M | 50x | as long as short |
| BloFin QQQ-USDT | −0.0023% | 8h | 741.73 | +0.030% | $1.1M | $274K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 741.70 | +0.026% | $824K | $864K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 741.65 | +0.019% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 741.48 | −0.004% | $21.4M | $28.3M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 741.71 | +0.026% | $5.4M | $5.9M | 25x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 741.93 | +0.057% | $16.5M | $5.4M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 741.75 | +0.032% | $16.8M | $7.2M | — | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
Gate QQQ_USDT
BloFin QQQ-USDT
Aster QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Bitget QQQUSDT
Variational Omni QQQShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX QQQ-USDT | 0.0000% | 8h | 742.22 | +0.096% | $2K | $1.7M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 742.05 | +0.073% | $251K | $41K | 30x | as long as short |
| Phemex QQQUSDTshort | 0.0000% | 8h | 742.14 | +0.085% | $362K | $1.6M | 10x | |
| Coinbase International QQQ-PERP-INTX | +0.0016% | 1h | 741.15 | −0.049% | $1.2M | $488K | 20x | as long as short |
| Binance QQQUSDT | +0.0023% | 8h | 741.68 | +0.024% | $70.3M | $141.0M | 25x | as long as short |
| edgeX QQQUSDC | +0.0027% | 4h | 741.76 | +0.034% | $758K | $337K | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 741.45 | −0.008% | $7.7M | $15.4M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 741.78 | +0.036% | $37.3M | $81.2M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 740.99 | −0.070% | $647K | $1.7M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 742.84 | +0.179% | — | $337K | 50x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 741.33 | −0.024% | $3.4M | $351K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 741.34 | −0.023% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythoslong | +0.0100% | 8h | 741.51 | long leg | $12K | $21K | 20x | |
| Aevo QQQ-PERP | +0.0104% | 1h | 741.10 | −0.055% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0139% | 1h | 741.51 | 0.000% | $1.6M | $748K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0143% | 8h | 741.98 | +0.063% | $314K | $2.0M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0222% | 1h | 741.62 | +0.015% | $424K | $156K | 20x | as long as short |
| Phoenix QQQ | +0.0227% | 1h | 741.64 | +0.018% | $38K | $65K | 20x | as long as short |
SunX QQQ-USDT
HTX QQQ-USDT
Coinbase International QQQ-PERP-INTX
Binance QQQUSDT
edgeX QQQUSDC
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Aevo QQQ-PERP
Nado QQQ-PERP
GRVT QQQ_USDT_Perp
Deribit QQQ_USDC-PERPETUAL
Phoenix QQQ