Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against Orderly+0.117%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
The price spread pays, funding is against you. Phemex is 0.117% dearer against Orderly than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_QQQ_USDC_mythos | 742.50 | 0.0100 | pay 0.0100% / 8h | 3h 04m | $12K | $21K | 20x |
| Short | Phemex QQQUSDT | 743.37 | 0 | get 0.0000% / 8h | 3h 04m | $361K | $1.6M | 10x |
Orderly PERP_QQQ_USDC_mythos
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Orderly. 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
- −$21
- Price spread: +0.117% → 0.000%
- $11.72
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$27.28
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 3 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 3 min ago | 3.77 bp | 32.5 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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 −0.0141% / S +0.0236% | 1h | 742.82 | +0.042% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0010% | 1h | 741.70 | −0.108% | $4.2M | $1.8M | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 742.80 | +0.040% | $824K | $857K | 20x | as long as short |
| Binance QQQUSDT | 0.0000% | 8h | 742.83 | +0.044% | $70.1M | $143.8M | 25x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 742.82 | +0.043% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 742.58 | +0.011% | $21.6M | $27.4M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 742.16 | −0.046% | $3.3M | $21.3M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 742.92 | +0.057% | $16.7M | $5.6M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 742.76 | +0.034% | $17.1M | $7.2M | — | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 743.31 | +0.109% | $2K | $1.9M | 10x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
Aster QQQUSDT
Binance QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
Bitget QQQUSDT
Variational Omni QQQ
SunX QQQ-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 742.39 | −0.015% | $424K | $151K | 20x | as long as short |
| Coinbase International QQQ-PERP-INTX | 0.0000% | 1h | 742.27 | −0.031% | $1.2M | $538K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 742.85 | +0.047% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDTshort | 0.0000% | 8h | 743.37 | +0.117% | $361K | $1.6M | 10x | |
| RISEx QQQ/USDC | +0.0010% | 1h | 742.84 | +0.046% | $5.4M | $7.3M | 25x | as long as short |
| BloFin QQQ-USDT | +0.0022% | 8h | 742.86 | +0.048% | $1.1M | $246K | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 742.63 | +0.018% | $7.7M | $15.9M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 743.01 | +0.069% | $36.9M | $79.5M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 742.03 | −0.063% | $704K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 743.68 | +0.159% | — | $337K | 50x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0073% | 8h | 742.97 | +0.063% | $320K | $1.9M | 10x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 742.46 | −0.005% | $3.4M | $343K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 742.35 | −0.020% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythoslong | +0.0100% | 8h | 742.50 | long leg | $12K | $21K | 20x | |
| Nado QQQ-PERP | +0.0103% | 1h | 742.39 | −0.015% | $1.5M | $763K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 741.98 | −0.070% | $92K | $1K | 10x | as long as short |
| Phoenix QQQ | +0.0118% | 1h | 742.50 | 0.000% | $38K | $66K | 20x | as long as short |
| edgeX QQQUSDC | +0.0178% | 4h | 742.80 | +0.040% | $759K | $334K | 20x | as long as short |
Deribit QQQ_USDC-PERPETUAL
Coinbase International QQQ-PERP-INTX
HTX QQQ-USDT
RISEx QQQ/USDC
BloFin QQQ-USDT
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
GRVT QQQ_USDT_Perp
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Nado QQQ-PERP
Aevo QQQ-PERP
Phoenix QQQ
edgeX QQQUSDC