Funding you earn now, next payment 08:00 UTC−0.0208%/8h= −22.8% APRnext payment −$0.26 per $10,000 · paid last 24h −0.012%
Price spread now: Arcus against Phoenix−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 4 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 −$6 a day on $10k at the current rate, and Arcus is 0.038% cheaper against Phoenix 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 | Phoenix QQQ | 741.51 | 0.0248 | pay 0.0031% / 1h | 59m 08s | $38K | $59K | 20x |
| Short | Arcus QQQ-USD | 741.23 | 0.0040 | get 0.0005% / 1h | 59m 08s | $647K | $1.4M | 25x |
Phoenix QQQ
Arcus QQQ-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. 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
- −$43.67
- Price spread: −0.038% → 0.000%
- −$3.78
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$58.95
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Arcus: live order book, 5 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 5 min ago | 0.54 bp | 5.1 bp −$5 | 5.5 bp −$55 | doesn't fit | doesn't fit |
Phoenix: 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 −0.0191% / S +0.0276% | 1h | 742.04 | +0.072% | $25K | — | 26x | as long as short |
| BloFin QQQ-USDT | −0.0010% | 8h | 741.87 | +0.049% | $1.1M | $280K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 742.01 | +0.067% | $857K | $902K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 741.88 | +0.050% | $21.6M | $30.1M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 741.96 | +0.060% | $5.4M | $5.7M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 741.59 | +0.011% | $3.4M | $19.6M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 742.14 | +0.085% | $16.5M | $5.2M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 742.70 | +0.160% | $2K | $1.6M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 742.27 | +0.102% | $251K | $38K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 742.49 | +0.132% | $360K | $1.6M | 10x | as long as short |
GMX QQQ/USD [ETH-USDC]
BloFin QQQ-USDT
Aster QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
SunX QQQ-USDT
HTX QQQ-USDT
Phemex QQQUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni QQQ | +0.0027% | 8h | 741.87 | +0.048% | $16.7M | $7.2M | — | as long as short |
| Lighter QQQ | +0.0032% | 1h | 741.73 | +0.030% | $7.7M | $14.6M | 30x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0032% | 1h | 741.51 | 0.000% | $1.2M | $509K | 20x | as long as short |
| Lighter RH QQQ | +0.0040% | 1h | 742.13 | +0.084% | $38.3M | $76.6M | 50x | as long as short |
| Arcus QQQ-USDshort | +0.0040% | 1h | 741.23 | −0.038% | $647K | $1.4M | 25x | |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 743.00 | +0.201% | — | $337K | 50x | as long as short |
| Ondo Perps QQQ-USD.P | +0.0050% | 1h | 740.71 | −0.108% | $4.2M | $1.8M | 20x | as long as short |
| Binance QQQUSDT | +0.0053% | 8h | 742.10 | +0.080% | $71.0M | $141.7M | 25x | as long as short |
| Bybit QQQUSDT | +0.0081% | 8h | 742.23 | +0.097% | $10.7M | $5.0M | 50x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 741.65 | +0.019% | $3.4M | $410K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 741.48 | −0.004% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 741.87 | +0.049% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 741.34 | −0.022% | $92K | $1K | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0128% | 1h | 741.73 | +0.030% | $424K | $125K | 20x | as long as short |
| Nado QQQ-PERP | +0.0147% | 1h | 741.65 | +0.019% | $1.6M | $750K | 20x | as long as short |
| Phoenix QQQlong | +0.0248% | 1h | 741.51 | long leg | $38K | $59K | 20x | |
| GRVT QQQ_USDT_Perp | +0.0282% | 8h | 742.11 | +0.081% | $315K | $2.0M | 10x | as long as short |
| edgeX QQQUSDC | +0.0476% | 4h | 741.96 | +0.061% | $759K | $337K | 20x | as long as short |
Variational Omni QQQ
Lighter QQQ
Coinbase International QQQ-PERP-INTX
Lighter RH QQQ
Vest QQQ-USD-PERP
Ondo Perps QQQ-USD.P
Binance QQQUSDT
Bybit QQQUSDT
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Deribit QQQ_USDC-PERPETUAL
Nado QQQ-PERP
GRVT QQQ_USDT_Perp
edgeX QQQUSDC