Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%
Price spread now: Phemex against Coinbase International+0.085%7-day average +0.098% · you sell dearer than you buy
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$770.772% of the position
Funding, last 7 days−0.238%−$24 on $10k
+Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.085%, 7d avg +0.098%
=The price spread sits at its 7-day average of +0.098%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International QQQ-PERP-INTX | 743.74 | 0.0032 | pay 0.0004% / 1h | 46m 31s | $1.2M | $534K | 20x |
| Short | Phemex QQQUSDT | 744.37 | 0 | get 0.0000% / 8h | 5h 46m | $360K | $1.4M | 10x |
Coinbase International QQQ-PERP-INTX
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Coinbase International. 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
- −$6.72
- Price spread: +0.085% → +0.098%
- −$1.33
- Slippage, 4 orders
- −$55.18
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$85.23
- Costs to cover
- 0.772%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 2 min ago; Phemex: live order book, 1 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 Coinbase International live order book, 2 min ago | 0.34 bp | 6.6 bp −$7 | 8.6 bp −$86 | 40.9 bp −$4,088 | doesn't fit |
| Sell Phemex live order book, 1 min ago | 2.08 bp | 28.4 bp −$28 | doesn't fit | doesn't fit | 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 −0.0107% / S +0.0210% | 1h | 744.09 | +0.046% | $25K | — | 26x | as long as short |
| BloFin QQQ-USDT | −0.0004% | 8h | 744.03 | +0.039% | — | $304K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 744.10 | +0.049% | $841K | $713K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 744.11 | +0.050% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 744.09 | +0.047% | $21.7M | $26.3M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 744.15 | +0.055% | $5.4M | $7.5M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.68 | −0.008% | $3.3M | $20.7M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 744.44 | +0.094% | $16.9M | $5.8M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.53 | +0.106% | $2K | $2.0M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 743.77 | +0.004% | $425K | $149K | 20x | as long as short |
GMX QQQ/USD [ETH-USDC]
BloFin QQQ-USDT
Aster QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
SunX QQQ-USDT
Deribit QQQ_USDC-PERPETUALShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX QQQ-USDT | 0.0000% | 8h | 744.24 | +0.067% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDTshort | 0.0000% | 8h | 744.37 | +0.085% | $360K | $1.4M | 10x | |
| Ondo Perps QQQ-USD.P | +0.0015% | 1h | 743.16 | −0.078% | $4.2M | $1.9M | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 743.92 | +0.024% | $7.7M | $17.1M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 744.34 | +0.081% | $37.3M | $78.6M | 50x | as long as short |
| Coinbase International QQQ-PERP-INTXlong | +0.0032% | 1h | 743.74 | long leg | $1.2M | $534K | 20x | |
| Arcus QQQ-USD | +0.0040% | 1h | 743.27 | −0.063% | $705K | $1.5M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 745.06 | +0.177% | — | $337K | 50x | as long as short |
| Variational Omni QQQ | +0.0049% | 8h | 744.19 | +0.060% | $17.1M | $7.5M | — | as long as short |
| Binance QQQUSDT | +0.0073% | 8h | 744.14 | +0.054% | $71.1M | $144.4M | 25x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.86 | +0.016% | $3.4M | $413K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.67 | −0.009% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.82 | +0.011% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.33 | −0.056% | $93K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0117% | 1h | 743.72 | −0.003% | $1.5M | $923K | 20x | as long as short |
| Phoenix QQQ | +0.0161% | 1h | 743.80 | +0.008% | $38K | $66K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0165% | 8h | 744.45 | +0.095% | $322K | $1.9M | 10x | as long as short |
| edgeX QQQUSDC | +0.0877% | 4h | 744.12 | +0.051% | $761K | $335K | 20x | as long as short |
HTX QQQ-USDT
Ondo Perps QQQ-USD.P
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Variational Omni QQQ
Binance QQQUSDT
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
Phoenix QQQ
GRVT QQQ_USDT_Perp
edgeX QQQUSDC