Funding you earn now, next payment 04:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h −0.003%
Price spread now: Coinbase International against Arcus−0.038%7-day average +0.077% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$240.240% of the position
Funding, last 4 days (all we have)+0.072%+$7 on $10k
+Price spread, last 4 days (all we have)+0.211%+$21 · spread now −0.038%, 7d avg +0.077%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.115% cheaper against Arcus than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.077%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.072%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus QQQ-USD | 742.92 | 0.0040 | pay 0.0005% / 1h | 43m 51s | $703K | $1.6M | 25x |
| Short | Coinbase International QQQ-PERP-INTX | 742.64 | 0 | get 0.0000% / 1h | 43m 51s | $1.2M | $536K | 20x |
Arcus QQQ-USD
Coinbase International QQQ-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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: −0.038% → +0.077%
- −$11.51
- Slippage, 4 orders
- −$9.5
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$43.97
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 5 min ago; Coinbase International: live order book, 5 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, 5 min ago | 0.47 bp | 5.7 bp −$6 | 8.7 bp −$87 | 24.4 bp −$2,436 | doesn't fit |
| Sell Coinbase International live order book, 5 min ago | 0.07 bp | 6.2 bp −$6 | 7.2 bp −$72 | 36.0 bp −$3,599 | doesn't fit |
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 −0.0132% / S +0.0230% | 1h | 743.63 | +0.095% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0032% | 1h | 742.52 | −0.054% | $4.2M | $1.8M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0029% | 8h | 743.43 | +0.069% | $1.1M | $256K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 743.69 | +0.103% | $840K | $714K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 743.61 | +0.093% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.43 | +0.069% | $21.4M | $26.9M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.10 | +0.024% | $3.3M | $20.8M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.74 | +0.110% | $16.9M | $5.5M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 743.66 | +0.100% | $17.1M | $7.4M | — | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.08 | +0.156% | $2K | $1.9M | 10x | 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 QQQ
SunX QQQ-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International QQQ-PERP-INTXshort | 0.0000% | 1h | 742.64 | −0.038% | $1.2M | $536K | 20x | |
| HTX QQQ-USDT | 0.0000% | 8h | 743.82 | +0.121% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 743.74 | +0.110% | $361K | $1.6M | 10x | as long as short |
| Binance QQQUSDT | +0.0009% | 8h | 743.61 | +0.093% | $70.9M | $141.3M | 25x | as long as short |
| RISEx QQQ/USDC | +0.0010% | 1h | 743.70 | +0.105% | $5.4M | $7.3M | 25x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 743.52 | +0.081% | $7.7M | $15.8M | 30x | as long as short |
| Lighter RH QQQ | +0.0040% | 1h | 743.93 | +0.136% | $37.0M | $78.4M | 50x | as long as short |
| Arcus QQQ-USDlong | +0.0040% | 1h | 742.92 | long leg | $703K | $1.6M | 25x | |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 744.63 | +0.230% | — | $337K | 50x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0059% | 1h | 743.43 | +0.069% | $425K | $150K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0079% | 8h | 743.34 | +0.057% | $326K | $1.9M | 10x | as long as short |
| Nado QQQ-PERP | +0.0092% | 1h | 743.34 | +0.056% | $1.5M | $779K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.33 | +0.055% | $3.4M | $342K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.43 | +0.069% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.37 | +0.061% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.83 | −0.013% | $92K | $1K | 10x | as long as short |
| Phoenix QQQ | +0.0118% | 1h | 743.26 | +0.046% | $38K | $66K | 20x | as long as short |
| edgeX QQQUSDC | +0.0750% | 4h | 743.65 | +0.098% | $760K | $336K | 20x | as long as short |
HTX QQQ-USDT
Phemex QQQUSDT
Binance QQQUSDT
RISEx QQQ/USDC
Lighter QQQ
Lighter RH QQQ
Vest QQQ-USD-PERP
Deribit QQQ_USDC-PERPETUAL
GRVT QQQ_USDT_Perp
Nado QQQ-PERP
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Phoenix QQQ
edgeX QQQUSDC