Funding you earn now, next payment 10:00 UTC−0.0270%/8h= −29.5% APRnext payment −$0.34 per $10,000 · paid last 24h −0.014%
Price spread now: Lighter against Phoenix+0.030%74s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.095%−$9 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
The price spread pays, funding is against you. Lighter is 0.030% dearer against Phoenix than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.095% in total) that is about 2.2 days. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.095% in total (about -4.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.34 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix QQQ | 742.33 | 0.0302 | pay 0.0038% / 1h | 44m 08s | $38K | $59K | 20x |
| Short | Lighter QQQ | 742.55 | 0.0032 | get 0.0004% / 1h | 44m 08s | $7.3M | $15.7M | 30x |
Phoenix QQQ
Lighter QQQFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$56.6
- Price spread: +0.030% → 0.000%
- $2.96
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$60.64
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 8 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 8 min ago | 0.34 bp | 0.4 bp $0 | 6.6 bp −$66 | 24.9 bp −$2,495 | 64.8 bp −$32.4K |
Phoenix: 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 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 −0.0203% / S +0.0285% | 1h | 743.09 | +0.102% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0129% | 1h | 740.96 | −0.185% | $4.2M | $1.8M | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 743.16 | +0.112% | $857K | $903K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 742.89 | +0.075% | $21.7M | $30.3M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 742.87 | +0.072% | $5.4M | $5.7M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 742.61 | +0.038% | $3.5M | $19.8M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.03 | +0.094% | $17.0M | $5.9M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 743.62 | +0.174% | $2K | $1.5M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 742.68 | +0.047% | $398K | $108K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 743.27 | +0.127% | $247K | $45K | 30x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
Aster QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
SunX QQQ-USDT
Deribit QQQ_USDC-PERPETUAL
HTX QQQ-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex QQQUSDT | 0.0000% | 8h | 743.40 | +0.144% | $362K | $1.6M | 10x | as long as short |
| BloFin QQQ-USDT | +0.0016% | 8h | 742.87 | +0.073% | $1.1M | $237K | 20x | as long as short |
| Lighter QQQshort | +0.0032% | 1h | 742.55 | +0.030% | $7.3M | $15.7M | 30x | |
| Lighter RH QQQ | +0.0032% | 1h | 743.16 | +0.112% | $38.7M | $77.0M | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0032% | 1h | 742.87 | +0.073% | $1.2M | $541K | 20x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 741.93 | −0.054% | $659K | $1.4M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 743.86 | +0.206% | — | $337K | 50x | as long as short |
| Variational Omni QQQ | +0.0052% | 8h | 742.97 | +0.086% | $16.8M | $6.9M | — | as long as short |
| Bybit QQQUSDT | +0.0068% | 8h | 743.09 | +0.102% | $10.5M | $4.8M | 50x | as long as short |
| Binance QQQUSDT | +0.0076% | 8h | 743.17 | +0.113% | $71.6M | $145.9M | 25x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 742.73 | +0.054% | $3.4M | $470K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 742.82 | +0.066% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 742.84 | +0.069% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.30 | −0.004% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0134% | 1h | 742.50 | +0.023% | $1.6M | $770K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0250% | 8h | 743.56 | +0.166% | $318K | $2.1M | 10x | as long as short |
| Phoenix QQQlong | +0.0302% | 1h | 742.33 | long leg | $38K | $59K | 20x | |
| edgeX QQQUSDC | +0.0715% | 4h | 743.15 | +0.111% | $760K | $336K | 20x | as long as short |
Phemex QQQUSDT
BloFin QQQ-USDT
Lighter RH QQQ
Coinbase International QQQ-PERP-INTX
Arcus QQQ-USD
Vest QQQ-USD-PERP
Variational Omni QQQ
Bybit QQQUSDT
Binance QQQUSDT
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
GRVT QQQ_USDT_Perp
edgeX QQQUSDC