Funding you earn now, next payment 00:00 UTC+0.0076%/8h= +8.3% APRnext payment +$0.76 per $10,000 · paid last 24h −0.085%
Price spread now: Binance against Phemex−0.063%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$730.729% of the position
Funding, last 7 days−0.039%−$4 on $10k
+Price spread, last 2 days (all we have)+0.046%+$5 · spread now −0.063%, 7d avg −0.031%
=Funding pays, the price is against you. Binance is 0.032% cheaper against Phemex than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of −0.031%). If the spread goes back, that is −$3 on $10k: about 34 hours of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex QQQUSDT | 743.97 | 0 | get 0.0000% / 8h | 13m 21s | $363K | $1.4M | 10x |
| Short | Binance QQQUSDT | 743.50 | 0.0076 | get 0.0076% / 8h | 13m 21s | $71.1M | $160.7M | 25x |
Phemex QQQUSDT
Binance QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- $15.94
- Price spread: −0.063% → −0.031%
- −$3.22
- Slippage, 4 orders
- −$50.9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$60.18
- Costs to cover
- 0.729%
- Break-even
- 33.4 days
Slippage from Phemex: live order book, 4 min ago; Binance: live order book, 15 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 Phemex live order book, 4 min ago | 2.08 bp | 35.0 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 15 min ago | 0.07 bp | 5.1 bp −$5 | 5.4 bp −$54 | 9.4 bp −$936 | 25.0 bp −$12.5K |
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 −0.0077% / S +0.0187% | 1h | 743.50 | −0.063% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0046% | 1h | 742.08 | −0.254% | $4.2M | $2.1M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0002% | 8h | 743.09 | −0.118% | $1.1M | $320K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 743.51 | −0.062% | $845K | $784K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.31 | −0.089% | $21.5M | $27.6M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.14 | −0.112% | $3.1M | $32.8M | 50x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.02 | +0.007% | $2K | $2.3M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 743.13 | −0.113% | $257K | $25K | 30x | as long as short |
| Phemex QQQUSDTlong | 0.0000% | 8h | 743.97 | long leg | $363K | $1.4M | 10x | |
| Lighter RH QQQ | +0.0032% | 1h | 743.65 | −0.043% | $37.4M | $80.8M | 50x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
BloFin QQQ-USDT
Aster QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
SunX QQQ-USDT
HTX QQQ-USDT
Lighter RH QQQShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus QQQ-USD | +0.0040% | 1h | 742.82 | −0.155% | $747K | $1.5M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 743.96 | −0.001% | — | $621K | 50x | as long as short |
| Variational Omni QQQ | +0.0046% | 8h | 743.47 | −0.068% | $17.6M | $10.3M | — | as long as short |
| Lighter QQQ | +0.0064% | 1h | 743.35 | −0.083% | $7.6M | $20.9M | 30x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0072% | 1h | 743.11 | −0.116% | $1.2M | $866K | 20x | as long as short |
| Binance QQQUSDTshort | +0.0076% | 8h | 743.50 | −0.063% | $71.1M | $160.7M | 25x | |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.03 | −0.126% | $3.4M | $415K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.07 | −0.121% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.24 | −0.098% | $12K | $21K | 20x | as long as short |
| Bybit QQQUSDT | +0.0101% | 8h | 743.60 | −0.050% | $10.7M | $5.2M | 50x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.83 | −0.154% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0173% | 1h | 743.03 | −0.126% | $1.5M | $1.3M | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0181% | 1h | 743.26 | −0.095% | $425K | $157K | 20x | as long as short |
| Bitget QQQUSDT | +0.0181% | 8h | 743.52 | −0.060% | $16.9M | $7.0M | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0191% | 8h | 743.70 | −0.036% | $323K | $1.8M | 10x | as long as short |
| RISEx QQQ/USDC | +0.0193% | 1h | 743.58 | −0.052% | $5.6M | $9.0M | 25x | as long as short |
| Phoenix QQQ | +0.0194% | 1h | 743.06 | −0.122% | $38K | $73K | 20x | as long as short |
| edgeX QQQUSDC | +0.0546% | 4h | 743.47 | −0.067% | $760K | $337K | 20x | as long as short |
Arcus QQQ-USD
Vest QQQ-USD-PERP
Variational Omni QQQ
Lighter QQQ
Coinbase International QQQ-PERP-INTX
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Bybit QQQUSDT
Aevo QQQ-PERP
Nado QQQ-PERP
Deribit QQQ_USDC-PERPETUAL
Bitget QQQUSDT
GRVT QQQ_USDT_Perp
RISEx QQQ/USDC
Phoenix QQQ
edgeX QQQUSDC