Funding arb · Price arb /

QCOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0417%/8h= −45.6% APRnext payment −$0.52 per $10,000 · paid last 24h —

Price spread now: Lighter against Phoenix−0.107%74s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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 against this trade now: funding costs −$13 a day on $10k at the current rate, and Lighter is 0.107% cheaper against Phoenix than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 74 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 QCOM	196.01	0.0449	pay 0.0056% / 1h	28m 00s	$98K	$239K	10x
Short	Lighter QCOM	195.80	0.0032	get 0.0004% / 1h	28m 00s	—	—	10x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee LighterbpOrdersPrice spread, now −0.107%Rate

Funding earned: −$87.53
Price spread: −0.107% → 0.000%: −$10.71
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$105.25
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 32 min ago; Lighter: 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 Phoenix live order book, 32 min ago	7.64 bp	21.5 bp −$22	47.5 bp −$475	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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.

QCOM on 21 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
Aster QCOMUSDT	0.0000%	8h	195.95	−0.032%	$18K	$11K	20x	as long as short
Bybit QCOMUSDT	0.0000%	8h	195.78	−0.117%	$2.5M	$1.8M	25x	as long as short
OKX QCOM-USDT-SWAP	0.0000%	8h	195.95	−0.031%	$1.8M	$3.7M	20x	as long as short
Gate QCOM_USDT	0.0000%	8h	195.96	−0.026%	$4.4M	$3.3M	50x	as long as short
Bitget QCOMUSDT	0.0000%	8h	195.94	−0.036%	$1.3M	$1.1M	20x	as long as short
GRVT QCOM_USDT_Perp	0.0000%	8h	195.92	−0.044%	$6K	$191K	10x	as long as short
SunX QCOM-USDT	0.0000%	8h	195.69	−0.163%	$838	$4.6M	10x	as long as short
HTX QCOM-USDT	0.0000%	8h	196.02	+0.005%	$10K	$10K	20x	as long as short
Phemex QCOMUSDT	0.0000%	8h	195.91	−0.051%	$1.6M	$999K	10x	as long as short
Lighter QCOMshort	+0.0032%	1h	195.80	−0.107%	—	—	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX QCOM-USD	+0.0062%	1h	195.89	−0.061%	$1.2M	$3.3M	10x	as long as short
KuCoin QCOMUSDTM	+0.0100%	8h	195.74	−0.138%	$319K	$546K	20x	as long as short
Variational Omni QCOM	+0.0113%	8h	195.93	−0.041%	$322K	$75K	—	as long as short
Extended QCOM-USD	+0.0160%	1h	195.77	−0.121%	$107K	$412K	10x	as long as short
Binance QCOMUSDT	+0.0161%	8h	195.84	−0.088%	$11.1M	$23.4M	20x	as long as short
BloFin QCOM-USDT	+0.0178%	8h	195.89	−0.061%	$128K	$55K	20x	as long as short
Polymarket Perps QCOM-USD	+0.0218%	1h	195.96	−0.026%	$83K	$894K	10x	as long as short
Injective QCOM/USDC PERP	+0.0220%	1h	215.37	+9.877%	$26K	$25K	12x	as long as short
Phoenix QCOMlong	+0.0449%	1h	196.01	long leg	$98K	$239K	10x
tradeXYZ xyz:QCOM	+0.0581%	1h	196.05	+0.020%	$7.4M	$2.3M	10x	as long as short
edgeX QCOMUSDC	+0.0725%	4h	195.96	−0.026%	$81K	$271K	10x	as long as short