Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%
Price spread now: Lighter RH against Phemex−0.015%7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as 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)−0.165%−$17 · spread now −0.015%, 7d avg −0.057%
=Together, before fees−0.045%+ Points / potential airdropLighter RH: Points live · farm board−$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH 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 −0.057%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex QQQUSDT | 744.34 | 0 | get 0.0000% / 8h | 5h 27m | $363K | $1.5M | 10x |
| Short | Lighter RH QQQ | 744.23 | 0.0032 | get 0.0004% / 1h | 27m 42s | $37.3M | $79.4M | 50x |
Phemex QQQUSDT
Lighter RH QQQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- $6.72
- Price spread: −0.015% → −0.057%
- $4.19
- Slippage, 4 orders
- −$53
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$54.09
- Costs to cover
- 0.650%
- Break-even
- 63.3 days
Slippage from Phemex: live order book, 5 min ago; Lighter RH: live order book, 6 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, 5 min ago | 0.67 bp | 35.3 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 6 min ago | 0.07 bp | 0.3 bp $0 | 1.7 bp −$17 | 7.3 bp −$730 | 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 | −0.045% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0049% | 1h | 742.94 | −0.188% | $4.2M | $1.8M | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 744.00 | −0.046% | $841K | $713K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 744.09 | −0.034% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.95 | −0.052% | $21.7M | $26.3M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 744.06 | −0.038% | $5.4M | $7.5M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.68 | −0.089% | $3.3M | $21.1M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 744.37 | +0.004% | $16.9M | $5.7M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.44 | +0.013% | $2K | $2.0M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 743.67 | −0.090% | $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 | +0.019% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDTlong | 0.0000% | 8h | 744.34 | long leg | $363K | $1.5M | 10x | |
| BloFin QQQ-USDT | +0.0020% | 8h | 744.28 | −0.008% | $1.1M | $303K | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 743.75 | −0.079% | $7.7M | $17.1M | 30x | as long as short |
| Lighter RH QQQshort | +0.0032% | 1h | 744.23 | −0.015% | $37.3M | $79.4M | 50x | |
| Coinbase International QQQ-PERP-INTX | +0.0032% | 1h | 743.51 | −0.112% | $1.2M | $534K | 20x | as long as short |
| Variational Omni QQQ | +0.0035% | 8h | 744.15 | −0.025% | $17.1M | $7.5M | — | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 743.14 | −0.161% | $694K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 745.03 | +0.093% | — | $337K | 50x | as long as short |
| Binance QQQUSDT | +0.0063% | 8h | 744.00 | −0.046% | $71.2M | $143.4M | 25x | as long as short |
| Nado QQQ-PERP | +0.0088% | 1h | 743.63 | −0.095% | $1.5M | $923K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.75 | −0.079% | $3.4M | $406K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.97 | −0.050% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.76 | −0.078% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.22 | −0.151% | $92K | $1K | 10x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0144% | 8h | 744.41 | +0.009% | $319K | $1.9M | 10x | as long as short |
| Phoenix QQQ | +0.0161% | 1h | 743.78 | −0.075% | $38K | $66K | 20x | as long as short |
| edgeX QQQUSDC | +0.0872% | 4h | 744.12 | −0.029% | $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