Funding you earn now, next payment 16:00 UTC−0.0057%/8h= −6.3% APRnext payment −$0.57 per $10,000 · paid last 24h −0.018%
Price spread now: Phemex against Binance+0.016%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$720.716% of the position
Funding, last 7 days+0.029%+$3 on $10k
+Price spread, last 4 days (all we have)+0.029%+$3 · spread now +0.016%, 7d avg +0.040%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.024% cheaper against Binance than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.040%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance QQQUSDT | 742.33 | 0.0057 | pay 0.0057% / 8h | 6h 08m | $71.2M | $141.5M | 25x |
| Short | Phemex QQQUSDT | 742.45 | 0 | get 0.0000% / 8h | 6h 08m | $362K | $1.6M | 10x |
Binance QQQUSDT
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Binance. 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
- −$12.07
- Price spread: +0.016% → +0.040%
- −$2.4
- Slippage, 4 orders
- −$49.63
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$86.1
- Costs to cover
- 0.716%
- Break-even
- never at this rate
Slippage from Binance: live order book, 13 min ago; Phemex: live order book, 3 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 Binance live order book, 13 min ago | 0.07 bp | 5.1 bp −$5 | 5.2 bp −$52 | 9.3 bp −$932 | 28.6 bp −$14.3K |
| Sell Phemex live order book, 3 min ago | 2.22 bp | 32.7 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
QQQ on 28 exchanges
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 −0.0202% / S +0.0285% | 1h | 742.34 | +0.001% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0110% | 1h | 740.80 | −0.206% | $4.2M | $1.8M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0015% | 8h | 741.88 | −0.061% | $1.1M | $228K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 742.01 | −0.043% | $857K | $902K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 742.11 | −0.030% | $21.7M | $29.7M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 741.99 | −0.046% | $5.4M | $5.7M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 741.76 | −0.077% | $3.5M | $20.3M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 742.25 | −0.011% | $16.7M | $5.4M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 742.79 | +0.062% | $2K | $1.5M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 742.48 | +0.020% | $251K | $38K | 30x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
BloFin QQQ-USDT
Aster QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
SunX QQQ-USDT
HTX QQQ-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex QQQUSDTshort | 0.0000% | 8h | 742.45 | +0.016% | $362K | $1.6M | 10x | |
| Variational Omni QQQ | +0.0030% | 8h | 742.09 | −0.033% | $16.8M | $7.2M | — | as long as short |
| Lighter QQQ | +0.0032% | 1h | 741.92 | −0.055% | $7.5M | $15.1M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 742.36 | +0.004% | $38.4M | $78.4M | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0032% | 1h | 741.31 | −0.137% | $1.2M | $527K | 20x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 741.31 | −0.137% | $650K | $1.4M | 25x | as long as short |
| Bybit QQQUSDT | +0.0043% | 8h | 742.41 | +0.011% | $10.7M | $4.9M | 50x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 743.15 | +0.110% | — | $337K | 50x | as long as short |
| Binance QQQUSDTlong | +0.0057% | 8h | 742.33 | long leg | $71.2M | $141.5M | 25x | |
| KuCoin QQQUSDTM | +0.0100% | 8h | 741.82 | −0.069% | $3.4M | $453K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 741.70 | −0.085% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 741.99 | −0.046% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 741.41 | −0.124% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0114% | 1h | 741.74 | −0.080% | $1.6M | $772K | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0155% | 1h | 741.94 | −0.053% | $424K | $125K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0198% | 8h | 742.32 | −0.001% | $321K | $2.0M | 10x | as long as short |
| edgeX QQQUSDC | +0.0207% | 4h | 742.08 | −0.033% | $759K | $334K | 20x | as long as short |
| Phoenix QQQ | +0.0280% | 1h | 741.60 | −0.098% | $38K | $59K | 20x | as long as short |
Variational Omni QQQ
Lighter QQQ
Lighter RH QQQ
Coinbase International QQQ-PERP-INTX
Arcus QQQ-USD
Bybit QQQUSDT
Vest QQQ-USD-PERP
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
Deribit QQQ_USDC-PERPETUAL
GRVT QQQ_USDT_Perp
edgeX QQQUSDC
Phoenix QQQ