Funding you earn now, next payment 21:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.03 per $10,000 · paid last 24h +0.022%
Price spread now: Lighter against Phoenix+0.061%104s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.158%−$16 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.061% dearer against Phoenix than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.158%, so the current rate has only just turned in your favour. The two prices were read 104 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix QQQ | 741.50 | 0.0076 | pay 0.0009% / 1h | 59m 39s | $38K | $73K | 20x |
| Short | Lighter QQQ | 741.95 | 0.0096 | get 0.0012% / 1h | 59m 39s | $7.8M | $21.4M | 30x |
Phoenix QQQ
Lighter QQQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $4.3
- Price spread: +0.061% → 0.000%
- $6.07
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $3.37
- Costs to cover
- 0.070%
- Break-even
- 1.5 days
Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 4 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 Lighter live order book, 4 min ago | 0.34 bp | 1.0 bp −$1 | 2.7 bp −$27 | 18.2 bp −$1,820 | 57.2 bp −$28.6K |
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 −0.0062% / S +0.0175% | 1h | 742.04 | +0.073% | $25K | — | 26x | as long as short |
| BloFin QQQ-USDT | −0.0003% | 8h | 741.79 | +0.039% | $1.0M | $509K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 741.75 | +0.034% | $21.3M | $28.0M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 741.70 | +0.027% | $3.1M | $32.7M | 50x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 742.48 | +0.132% | $1K | $2.4M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 741.76 | +0.035% | $424K | $304K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 742.30 | +0.108% | $256K | $32K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 742.45 | +0.128% | $361K | $1.4M | 10x | as long as short |
| Aster QQQUSDT | +0.0013% | 8h | 741.87 | +0.050% | $840K | $780K | 20x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 741.49 | −0.001% | $735K | $1.5M | 25x | as long as short |
GMX QQQ/USD [ETH-USDC]
BloFin QQQ-USDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
SunX QQQ-USDT
Deribit QQQ_USDC-PERPETUAL
HTX QQQ-USDT
Phemex QQQUSDT
Aster QQQUSDT
Arcus QQQ-USDShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest QQQ-USD-PERP | +0.0046% | 1h | 742.45 | +0.128% | — | $621K | 50x | as long as short |
| Ondo Perps QQQ-USD.P | +0.0050% | 1h | 740.86 | −0.086% | $4.2M | $2.2M | 20x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0064% | 1h | 741.73 | +0.031% | $1.2M | $880K | 20x | as long as short |
| Variational Omni QQQ | +0.0065% | 8h | 742.02 | +0.070% | $17.2M | $10.1M | — | as long as short |
| Phoenix QQQlong | +0.0076% | 1h | 741.50 | long leg | $38K | $73K | 20x | |
| Bybit QQQUSDT | +0.0086% | 8h | 742.20 | +0.094% | $10.7M | $5.4M | 50x | as long as short |
| Binance QQQUSDT | +0.0094% | 8h | 742.13 | +0.085% | $69.8M | $164.8M | 25x | as long as short |
| Lighter QQQshort | +0.0096% | 1h | 741.95 | +0.061% | $7.8M | $21.4M | 30x | |
| KuCoin QQQUSDTM | +0.0100% | 8h | 741.56 | +0.008% | $3.4M | $448K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 741.53 | +0.004% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 741.19 | −0.042% | $7K | $15K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 741.42 | −0.010% | $92K | $1K | 10x | as long as short |
| Lighter RH QQQ | +0.0112% | 1h | 742.25 | +0.101% | $37.7M | $80.6M | 50x | as long as short |
| edgeX QQQUSDC | +0.0129% | 4h | 742.03 | +0.072% | $759K | $337K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0190% | 8h | 742.15 | +0.087% | $316K | $1.7M | 10x | as long as short |
| Bitget QQQUSDT | +0.0229% | 8h | 742.15 | +0.088% | $16.7M | $7.7M | 20x | as long as short |
| Nado QQQ-PERP | +0.0242% | 1h | 741.43 | −0.010% | $1.5M | $1.3M | 20x | as long as short |
| RISEx QQQ/USDC | +0.0315% | 1h | 742.24 | +0.100% | $5.4M | $9.3M | 25x | as long as short |
Vest QQQ-USD-PERP
Ondo Perps QQQ-USD.P
Coinbase International QQQ-PERP-INTX
Variational Omni QQQ
Bybit QQQUSDT
Binance QQQUSDT
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Lighter RH QQQ
edgeX QQQUSDC
GRVT QQQ_USDT_Perp
Bitget QQQUSDT
Nado QQQ-PERP
RISEx QQQ/USDC