Funding you earn now, next payment 11:00 UTC+0.0309%/8h= +33.9% APRnext payment +$0.39 per $10,000 · paid last 24h +0.006%
Price spread now: Phoenix against ApeX Omni−0.038%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.027%−$3 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Phoenix is 0.038% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 10 hours of funding at the current rate (+$9 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.027% in total (about -1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.39 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 | ApeX Omni QQQUSDT | 741.81 | 0.0100 | pay 0.0013% / 1h | 43m 10s | $20K | $2.2M | 50x |
| Short | Phoenix QQQ | 741.53 | 0.0409 | get 0.0051% / 1h | 43m 10s | $38K | $59K | 20x |
ApeX Omni QQQUSDT
Phoenix QQQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against ApeX Omni. 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
- $64.96
- Price spread: −0.038% → 0.000%
- −$3.77
- Slippage, 4 orders
- no order book: not counted
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $44.19
- Costs to cover
- 0.170%
- Break-even
- 2.2 days
Slippage unknown: ApeX Omni: live order book, 4 min ago; Phoenix: no order-book sample. 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 ApeX Omni live order book, 4 min ago | 3.91 bp | 11.2 bp −$11 | 41.0 bp −$410 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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 | 742.43 | +0.084% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0035% | 1h | 740.62 | −0.160% | $4.2M | $1.8M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0007% | 8h | 742.17 | +0.049% | $1.1M | $242K | 20x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 742.18 | +0.050% | $22.1M | $31.0M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 742.08 | +0.036% | $5.5M | $5.7M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 741.77 | −0.005% | $3.6M | $19.9M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 742.50 | +0.093% | $17.0M | $6.0M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 742.93 | +0.151% | $2K | $1.5M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 742.67 | +0.116% | $247K | $45K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 742.84 | +0.139% | $360K | $1.7M | 10x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
BloFin QQQ-USDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
SunX QQQ-USDT
HTX QQQ-USDT
Phemex QQQUSDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus QQQ-USD | +0.0004% | 1h | 741.19 | −0.084% | $653K | $1.4M | 25x | as long as short |
| Aster QQQUSDT | +0.0010% | 8h | 742.16 | +0.047% | $855K | $915K | 20x | as long as short |
| Bybit QQQUSDT | +0.0010% | 8h | 742.25 | +0.059% | $10.9M | $5.1M | 50x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 741.70 | −0.015% | $7.2M | $16.5M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 742.47 | +0.089% | $38.9M | $76.4M | 50x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0033% | 1h | 741.97 | +0.022% | $398K | $103K | 20x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 743.26 | +0.195% | — | $337K | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0048% | 1h | 741.72 | −0.012% | $1.2M | $590K | 20x | as long as short |
| Variational Omni QQQ | +0.0081% | 8h | 741.84 | +0.003% | $16.8M | $6.9M | — | as long as short |
| Nado QQQ-PERP | +0.0098% | 1h | 741.89 | +0.011% | $1.6M | $785K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 741.88 | +0.009% | $3.4M | $512K | 20x | as long as short |
| ApeX Omni QQQUSDTlong | +0.0100% | 1h | 741.81 | long leg | $20K | $2.2M | 50x | |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 742.02 | +0.028% | $12K | $21K | 20x | as long as short |
| Binance QQQUSDT | +0.0102% | 8h | 742.43 | +0.084% | $72.6M | $148.7M | 25x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 741.51 | −0.041% | $92K | $1K | 10x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0257% | 8h | 742.42 | +0.083% | $317K | $2.1M | 10x | as long as short |
| Phoenix QQQshort | +0.0409% | 1h | 741.53 | −0.038% | $38K | $59K | 20x | |
| edgeX QQQUSDC | +0.0854% | 4h | 741.91 | +0.014% | $759K | $337K | 20x | as long as short |
Arcus QQQ-USD
Aster QQQUSDT
Bybit QQQUSDT
Lighter QQQ
Lighter RH QQQ
Deribit QQQ_USDC-PERPETUAL
Vest QQQ-USD-PERP
Coinbase International QQQ-PERP-INTX
Variational Omni QQQ
Nado QQQ-PERP
KuCoin QQQUSDTM
Orderly PERP_QQQ_USDC_mythos
Binance QQQUSDT
Aevo QQQ-PERP
GRVT QQQ_USDT_Perp
edgeX QQQUSDC