Funding you earn now, next payment 05:00 UTC−0.0230%/8h= −25.2% APRpaid last 24h −0.027%
Price spread now: GMX against Phemex−0.038%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 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
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GMX is 0.038% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex QQQUSDT | 744.08 | 0 | get 0.0000% / 8h | 3h 45m | $360K | $1.6M | 10x |
| Short | GMX QQQ/USD [ETH-USDC] | 743.79 | L −0.0132% / S +0.0230% | pay 0.0029% / 1h | 45m 39s | $25K | — | 26x |
Phemex QQQUSDT
GMX QQQ/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- −$48.27
- Price spread: −0.038% → 0.000%
- −$3.83
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$76.1
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 2 min ago; GMX: no order-book sample. 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 Phemex live order book, 2 min ago | 1.21 bp | 32.2 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: 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]short | L −0.0132% / S +0.0230% | 1h | 743.79 | −0.038% | $25K | — | 26x | |
| Ondo Perps QQQ-USD.P | −0.0032% | 1h | 742.52 | −0.210% | $4.2M | $1.8M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0007% | 8h | 743.60 | −0.065% | $1.1M | $256K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 743.80 | −0.038% | $841K | $714K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 743.64 | −0.059% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.50 | −0.078% | $21.5M | $26.9M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.23 | −0.114% | $3.3M | $20.7M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.92 | −0.022% | $16.9M | $5.5M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 743.66 | −0.056% | $17.1M | $7.4M | — | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.25 | +0.023% | $2K | $1.9M | 10x | as long as short |
Ondo Perps QQQ-USD.P
BloFin QQQ-USDT
Aster 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 | −0.194% | $1.2M | $536K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 743.53 | −0.074% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDTlong | 0.0000% | 8h | 744.08 | long leg | $360K | $1.6M | 10x | |
| RISEx QQQ/USDC | +0.0010% | 1h | 743.77 | −0.042% | $5.4M | $7.3M | 25x | as long as short |
| Binance QQQUSDT | +0.0010% | 8h | 743.63 | −0.060% | $70.9M | $141.3M | 25x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 743.52 | −0.075% | $7.7M | $15.8M | 30x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0032% | 1h | 743.63 | −0.060% | $425K | $150K | 20x | as long as short |
| Lighter RH QQQ | +0.0040% | 1h | 744.00 | −0.011% | $37.0M | $78.3M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 742.94 | −0.153% | $704K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 744.77 | +0.093% | — | $337K | 50x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0079% | 8h | 743.34 | −0.099% | $326K | $1.9M | 10x | as long as short |
| Nado QQQ-PERP | +0.0093% | 1h | 743.50 | −0.078% | $1.5M | $780K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.34 | −0.099% | $3.4M | $343K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 742.82 | −0.169% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.58 | −0.067% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.04 | −0.140% | $92K | $1K | 10x | as long as short |
| Phoenix QQQ | +0.0118% | 1h | 743.09 | −0.133% | $38K | $66K | 20x | as long as short |
| edgeX QQQUSDC | +0.0649% | 4h | 743.23 | −0.114% | $760K | $335K | 20x | as long as short |
Coinbase International QQQ-PERP-INTX
HTX QQQ-USDT
RISEx QQQ/USDC
Binance QQQUSDT
Lighter QQQ
Deribit QQQ_USDC-PERPETUAL
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