Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.005%
Price spread now: Coinbase International against Lighter RH−0.116%7-day average −0.044% · you buy dearer than you sell
Net, funding: paid 7d − costs$0as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$120.118% of the position
Funding, last 7 days+0.115%+$12 on $10k
+Price spread, last 4 days (all we have)+0.170%+$17 · spread now −0.116%, 7d avg −0.044%
=Together, before fees+0.285%+ Points / potential airdropLighter RH: Points live · farm board+$29 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.072% cheaper against Lighter RH than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.044%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.115%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH QQQ | 743.63 | 0.0032 | pay 0.0004% / 1h | 9m 25s | $37.0M | $80.9M | 50x |
| Short | Coinbase International QQQ-PERP-INTX | 742.77 | 0 | get 0.0000% / 1h | 9m 25s | $1.2M | $541K | 20x |
Lighter RH QQQ
Coinbase International QQQ-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter RH. 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: −0.116% → −0.044%
- −$7.16
- Slippage, 4 orders
- −$1.76
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$25.65
- Costs to cover
- 0.118%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 5 min ago; Coinbase International: live order book, 4 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 Lighter RH live order book, 5 min ago | 0.14 bp | 1.0 bp −$1 | 1.8 bp −$18 | 10.3 bp −$1,026 | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 0.07 bp | 5.6 bp −$6 | 6.9 bp −$69 | 33.8 bp −$3,383 | 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 −0.0152% / S +0.0246% | 1h | 743.35 | −0.038% | $25K | — | 26x | as long as short |
| BloFin QQQ-USDT | −0.0020% | 8h | 742.85 | −0.105% | $1.1M | $277K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 742.97 | −0.089% | $824K | $857K | 20x | as long as short |
| Binance QQQUSDT | 0.0000% | 8h | 743.37 | −0.035% | $70.0M | $145.0M | 25x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 743.45 | −0.024% | $10.6M | $5.2M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.15 | −0.065% | $21.5M | $28.3M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 743.38 | −0.034% | $5.4M | $6.7M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 742.74 | −0.120% | $3.3M | $21.4M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.50 | −0.017% | $16.6M | $5.6M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 743.18 | −0.060% | $16.9M | $7.3M | — | as long as short |
GMX QQQ/USD [ETH-USDC]
BloFin QQQ-USDT
Aster QQQUSDT
Binance QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
Variational Omni QQQShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX QQQ-USDT | 0.0000% | 8h | 743.76 | +0.017% | $2K | $1.8M | 10x | as long as short |
| Coinbase International QQQ-PERP-INTXshort | 0.0000% | 1h | 742.77 | −0.116% | $1.2M | $541K | 20x | |
| HTX QQQ-USDT | 0.0000% | 8h | 743.33 | −0.040% | $251K | $41K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 743.50 | −0.017% | $361K | $1.6M | 10x | as long as short |
| Ondo Perps QQQ-USD.P | +0.0001% | 1h | 742.06 | −0.211% | $4.2M | $1.8M | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 743.29 | −0.046% | $7.6M | $15.7M | 30x | as long as short |
| Lighter RH QQQlong | +0.0032% | 1h | 743.63 | long leg | $37.0M | $80.9M | 50x | |
| Arcus QQQ-USD | +0.0040% | 1h | 742.15 | −0.199% | $689K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 744.28 | +0.087% | — | $337K | 50x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0095% | 8h | 743.38 | −0.033% | $316K | $2.0M | 10x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.06 | −0.077% | $3.4M | $363K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 742.75 | −0.118% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.04 | −0.079% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.59 | −0.140% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0122% | 1h | 742.92 | −0.096% | $1.5M | $748K | 20x | as long as short |
| Phoenix QQQ | +0.0129% | 1h | 742.54 | −0.147% | $38K | $66K | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0140% | 1h | 743.08 | −0.074% | $424K | $152K | 20x | as long as short |
| edgeX QQQUSDC | +0.0987% | 4h | 743.21 | −0.057% | $760K | $334K | 20x | as long as short |
SunX QQQ-USDT
HTX QQQ-USDT
Phemex QQQUSDT
Ondo Perps QQQ-USD.P
Lighter QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
GRVT QQQ_USDT_Perp
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
Phoenix QQQ
Deribit QQQ_USDC-PERPETUAL
edgeX QQQUSDC