Funding you earn now, next payment 01:00 UTC−0.0151%/8h= −16.5% APRnext payment −$0.19 per $10,000 · paid last 24h +0.003%
Price spread now: Lighter RH against Phoenix+0.066%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.106%−$11 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories
The price spread pays, funding is against you. Lighter RH is 0.066% dearer against Phoenix than usual: you sell high and buy low (spread +0.066% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 35 hours. At the pace of the last 7 days (−0.106% in total) that is about 4.4 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix QQQ | 743.66 | 0.0183 | pay 0.0023% / 1h | 36m 59s | $38K | $66K | 20x |
| Short | Lighter RH QQQ | 744.15 | 0.0032 | get 0.0004% / 1h | 36m 59s | $37.4M | $79.6M | 50x |
Phoenix QQQ
Lighter RH QQQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$31.64
- Price spread: +0.066% → 0.000%
- $6.59
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$32.05
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Lighter RH: live order book, 2 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 RH live order book, 2 min ago | 0.07 bp | 0.2 bp $0 | 1.1 bp −$11 | 7.6 bp −$758 | doesn't fit |
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 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 | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps QQQ-USD.P | −0.0168% | 1h | 743.00 | −0.089% | $4.2M | $1.9M | 20x | as long as short |
| GMX QQQ/USD [ETH-USDC] | L −0.0097% / S +0.0202% | 1h | 744.05 | +0.053% | $25K | — | 26x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 743.95 | +0.039% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.78 | +0.016% | $21.5M | $25.5M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.73 | +0.009% | $3.2M | $21.6M | 50x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.61 | +0.128% | $2K | $2.1M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 744.08 | +0.056% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 744.13 | +0.063% | $360K | $1.4M | 10x | as long as short |
| Aster QQQUSDT | +0.0011% | 8h | 743.98 | +0.043% | $841K | $712K | 20x | as long as short |
| BloFin QQQ-USDT | +0.0026% | 8h | 744.31 | +0.087% | $1.1M | $319K | 20x | as long as short |
Ondo Perps QQQ-USD.P
GMX QQQ/USD [ETH-USDC]
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
SunX QQQ-USDT
HTX QQQ-USDT
Phemex QQQUSDT
Aster QQQUSDT
BloFin QQQ-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter QQQ | +0.0032% | 1h | 743.74 | +0.011% | $7.7M | $17.7M | 30x | as long as short |
| Lighter RH QQQshort | +0.0032% | 1h | 744.15 | +0.066% | $37.4M | $79.6M | 50x | |
| Arcus QQQ-USD | +0.0040% | 1h | 743.17 | −0.066% | $703K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 745.03 | +0.184% | — | $337K | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0048% | 1h | 743.52 | −0.019% | $1.2M | $535K | 20x | as long as short |
| Variational Omni QQQ | +0.0065% | 8h | 744.04 | +0.051% | $17.1M | $7.6M | — | as long as short |
| Bitget QQQUSDT | +0.0074% | 8h | 744.05 | +0.052% | $16.9M | $5.9M | 20x | as long as short |
| Binance QQQUSDT | +0.0087% | 8h | 743.97 | +0.042% | $71.1M | $147.6M | 25x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.76 | +0.013% | $3.4M | $406K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.71 | +0.007% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.82 | +0.022% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.28 | −0.051% | $93K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0121% | 1h | 743.76 | +0.013% | $1.5M | $1.0M | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0127% | 1h | 743.79 | +0.017% | $425K | $148K | 20x | as long as short |
| RISEx QQQ/USDC | +0.0168% | 1h | 744.17 | +0.068% | $5.4M | $8.2M | 25x | as long as short |
| Phoenix QQQlong | +0.0183% | 1h | 743.66 | long leg | $38K | $66K | 20x | |
| GRVT QQQ_USDT_Perp | +0.0230% | 8h | 744.26 | +0.081% | $318K | $1.8M | 10x | as long as short |
| edgeX QQQUSDC | +0.0751% | 4h | 743.92 | +0.035% | $761K | $334K | 20x | as long as short |
Lighter QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Coinbase International QQQ-PERP-INTX
Variational Omni QQQ
Bitget QQQUSDT
Binance QQQUSDT
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
Deribit QQQ_USDC-PERPETUAL
RISEx QQQ/USDC
GRVT QQQ_USDT_Perp
edgeX QQQUSDC