Funding you earn now, next payment 05:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.016%
Price spread now: Binance against Arcus+0.134%56s7-day average +0.155% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$210.211% of the position
Funding, last 4 days (all we have)−0.101%−$10 on $10k
+Price spread, last 7 days−0.016%−$2 · spread now +0.134%, 7d avg +0.155%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.022% cheaper against Arcus than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.155%). Swap the legs. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus QQQ-USD | 742.25 | 0.0040 | pay 0.0005% / 1h | 17m 45s | $704K | $1.6M | 25x |
| Short | Binance QQQUSDT | 743.24 | 0 | get 0.0000% / 8h | 3h 17m | $70.3M | $142.7M | 25x |
Arcus QQQ-USD
Binance QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Arcus. 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
- −$8.46
- Price spread: +0.134% → +0.155%
- −$2.15
- Slippage, 4 orders
- −$6.61
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$31.72
- Costs to cover
- 0.211%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 1 min ago; Binance: live order book, 10 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 Arcus live order book, 1 min ago | 0.54 bp | 5.5 bp −$6 | 9.3 bp −$93 | 27.8 bp −$2,776 | doesn't fit |
| Sell Binance live order book, 10 min ago | 0.07 bp | 5.3 bp −$5 | 5.6 bp −$56 | 10.2 bp −$1,024 | 26.2 bp −$13.1K |
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 −0.0138% / S +0.0234% | 1h | 743.02 | +0.104% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0030% | 1h | 741.97 | −0.038% | $4.2M | $1.8M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0011% | 8h | 743.11 | +0.116% | $1.1M | $246K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 743.13 | +0.118% | $824K | $857K | 20x | as long as short |
| Binance QQQUSDTshort | 0.0000% | 8h | 743.24 | +0.134% | $70.3M | $142.7M | 25x | |
| Bybit QQQUSDT | 0.0000% | 8h | 743.21 | +0.129% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 742.92 | +0.090% | $21.5M | $27.3M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 742.39 | +0.019% | $3.3M | $21.2M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.17 | +0.124% | $16.9M | $5.5M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 743.17 | +0.125% | $17.1M | $7.3M | — | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
BloFin QQQ-USDT
Aster QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
Bitget QQQUSDT
Variational Omni QQQShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX QQQ-USDT | 0.0000% | 8h | 743.51 | +0.170% | $2K | $1.9M | 10x | as long as short |
| Coinbase International QQQ-PERP-INTX | 0.0000% | 1h | 742.64 | +0.053% | $1.2M | $537K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 743.43 | +0.159% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 743.24 | +0.133% | $360K | $1.6M | 10x | as long as short |
| RISEx QQQ/USDC | +0.0010% | 1h | 743.05 | +0.107% | $5.4M | $7.3M | 25x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 742.96 | +0.096% | $7.7M | $15.8M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 743.34 | +0.147% | $37.0M | $79.4M | 50x | as long as short |
| Arcus QQQ-USDlong | +0.0040% | 1h | 742.25 | long leg | $704K | $1.6M | 25x | |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 743.93 | +0.226% | — | $337K | 50x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0064% | 8h | 743.36 | +0.149% | $320K | $1.9M | 10x | as long as short |
| Nado QQQ-PERP | +0.0080% | 1h | 742.60 | +0.047% | $1.5M | $745K | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0087% | 1h | 742.81 | +0.075% | $424K | $151K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 742.70 | +0.061% | $3.4M | $340K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 742.87 | +0.084% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 742.72 | +0.063% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.15 | −0.013% | $92K | $1K | 10x | as long as short |
| Phoenix QQQ | +0.0118% | 1h | 742.68 | +0.058% | $38K | $66K | 20x | as long as short |
| edgeX QQQUSDC | +0.0638% | 4h | 743.13 | +0.118% | $760K | $335K | 20x | as long as short |
SunX QQQ-USDT
Coinbase International QQQ-PERP-INTX
HTX QQQ-USDT
Phemex QQQUSDT
RISEx QQQ/USDC
Lighter QQQ
Lighter RH QQQ
Vest QQQ-USD-PERP
GRVT QQQ_USDT_Perp
Nado QQQ-PERP
Deribit QQQ_USDC-PERPETUAL
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Phoenix QQQ
edgeX QQQUSDC