Funding you earn now, next payment 05:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h +0.013%
Price spread now: Deribit against Phemex−0.050%7-day average −0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$800.801% of the position
Funding, last 5 days (all we have)+0.107%+$11 on $10k
+Price spread, last 4 days (all we have)−0.057%−$6 · spread now −0.050%, 7d avg −0.091%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.042% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.091%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex QQQUSDT | 743.29 | 0 | get 0.0000% / 8h | 3h 20m | $362K | $1.6M | 10x |
| Short | Deribit QQQ_USDC-PERPETUAL | 742.92 | 0.0154 | get 0.0019% / 1h | 20m 15s | $424K | $151K | 20x |
Phemex QQQUSDT
Deribit QQQ_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phemex. 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
- $32.34
- Price spread: −0.050% → −0.091%
- $4.16
- Slippage, 4 orders
- −$61.07
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$43.58
- Costs to cover
- 0.801%
- Break-even
- 16.4 days
Slippage from Phemex: live order book, 3 min ago; Deribit: live order book, 33 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 Phemex live order book, 3 min ago | 2.09 bp | 38.7 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 33 min ago | 0.07 bp | 6.0 bp −$6 | 7.5 bp −$75 | 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 −0.0137% / S +0.0234% | 1h | 743.16 | −0.017% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0034% | 1h | 742.36 | −0.125% | $4.2M | $1.8M | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 742.99 | −0.041% | $840K | $857K | 20x | as long as short |
| Binance QQQUSDT | 0.0000% | 8h | 743.11 | −0.024% | $70.3M | $142.3M | 25x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 743.15 | −0.019% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 742.95 | −0.046% | $21.5M | $27.2M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 742.58 | −0.096% | $3.3M | $21.2M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.33 | +0.005% | $16.9M | $5.5M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 743.17 | −0.015% | $17.1M | $7.3M | — | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 743.77 | +0.065% | $2K | $1.9M | 10x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
Aster QQQUSDT
Binance QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
Bitget QQQUSDT
Variational Omni QQQ
SunX QQQ-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International QQQ-PERP-INTX | 0.0000% | 1h | 742.64 | −0.087% | $1.2M | $537K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 744.11 | +0.110% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDTlong | 0.0000% | 8h | 743.29 | long leg | $362K | $1.6M | 10x | |
| BloFin QQQ-USDT | +0.0002% | 8h | 743.12 | −0.023% | $1.1M | $256K | 20x | as long as short |
| RISEx QQQ/USDC | +0.0010% | 1h | 743.27 | −0.003% | $5.4M | $7.3M | 25x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 742.96 | −0.044% | $7.7M | $15.8M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 743.34 | +0.007% | $37.0M | $79.4M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 742.31 | −0.132% | $704K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 744.11 | +0.110% | — | $337K | 50x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0067% | 8h | 743.31 | +0.002% | $321K | $1.9M | 10x | as long as short |
| Nado QQQ-PERP | +0.0078% | 1h | 742.84 | −0.060% | $1.5M | $746K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 742.90 | −0.052% | $3.4M | $340K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 742.74 | −0.074% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 742.83 | −0.062% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.38 | −0.123% | $92K | $1K | 10x | as long as short |
| Phoenix QQQ | +0.0118% | 1h | 742.68 | −0.082% | $38K | $66K | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUALshort | +0.0154% | 1h | 742.92 | −0.050% | $424K | $151K | 20x | |
| edgeX QQQUSDC | +0.0448% | 4h | 742.90 | −0.052% | $760K | $335K | 20x | as long as short |
Coinbase International QQQ-PERP-INTX
HTX QQQ-USDT
BloFin QQQ-USDT
RISEx QQQ/USDC
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
GRVT QQQ_USDT_Perp
Nado QQQ-PERP
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Phoenix QQQ
edgeX QQQUSDC