Funding you earn now, next payment 07:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h −0.009%
Price spread now: Coinbase International against Deribit−0.042%7-day average −0.008% · 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−$25as in the Price arb table
costs, in and out, $10k−$210.213% of the position
Funding, last 5 days (all we have)+0.046%+$5 on $10k
+Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.042%, 7d avg −0.008%
=Funding pays, the price is against you. Coinbase International is 0.034% cheaper against Deribit than usual: you would sell low and buy high (spread −0.042% now, against its 7-day average of −0.008%). If the spread goes back, that is −$3 on $10k: about 12 days of funding at the current rate ($0 a day). At the pace of the last 5 days (+0.046% in total) that is about 3.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit QQQ_USDC-PERPETUAL | 741.46 | 0.0006 | pay 0.0001% / 1h | 9m 44s | $424K | $156K | 20x |
| Short | Coinbase International QQQ-PERP-INTX | 741.15 | 0.0016 | get 0.0002% / 1h | 9m 44s | $1.2M | $488K | 20x |
Deribit QQQ_USDC-PERPETUAL
Coinbase International QQQ-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. 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
- $2.03
- Price spread: −0.042% → −0.008%
- −$3.36
- Slippage, 4 orders
- −$4.31
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$22.63
- Costs to cover
- 0.213%
- Break-even
- 84.9 days
Slippage from Deribit: live order book, 29 min ago; Coinbase International: live order book, 4 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 Deribit live order book, 29 min ago | 0.07 bp | 3.6 bp −$4 | 4.3 bp −$43 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 0.07 bp | 5.3 bp −$5 | 6.2 bp −$62 | 38.1 bp −$3,809 | 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 −0.0177% / S +0.0265% | 1h | 741.80 | +0.047% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0137% | 1h | 740.63 | −0.112% | $4.2M | $1.8M | 20x | as long as short |
| Gate QQQ_USDT | −0.0093% | 8h | 741.23 | −0.031% | $3.3M | $21.7M | 50x | as long as short |
| BloFin QQQ-USDT | −0.0008% | 8h | 741.40 | −0.008% | $1.1M | $274K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 741.69 | +0.031% | $824K | $864K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 741.70 | +0.032% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 741.47 | +0.001% | $21.5M | $28.3M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 741.49 | +0.004% | $5.4M | $5.9M | 25x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 741.81 | +0.047% | $16.5M | $5.3M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 741.57 | +0.015% | $16.8M | $7.2M | — | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
Gate QQQ_USDT
BloFin QQQ-USDT
Aster QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
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 | 742.13 | +0.090% | $2K | $1.7M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 741.93 | +0.063% | $250K | $41K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 742.09 | +0.085% | $360K | $1.6M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUALlong | +0.0006% | 1h | 741.46 | long leg | $424K | $156K | 20x | |
| Coinbase International QQQ-PERP-INTXshort | +0.0016% | 1h | 741.15 | −0.042% | $1.2M | $488K | 20x | |
| Binance QQQUSDT | +0.0024% | 8h | 741.73 | +0.036% | $70.3M | $140.9M | 25x | as long as short |
| edgeX QQQUSDC | +0.0027% | 4h | 741.76 | +0.040% | $758K | $337K | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 741.47 | +0.001% | $7.7M | $15.4M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 741.84 | +0.051% | $37.3M | $81.3M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 740.87 | −0.080% | $647K | $1.7M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 742.68 | +0.165% | — | $337K | 50x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 741.29 | −0.023% | $3.4M | $352K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 741.53 | +0.009% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 741.54 | +0.011% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 741.00 | −0.062% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0140% | 1h | 741.12 | −0.046% | $1.6M | $745K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0143% | 8h | 742.13 | +0.090% | $315K | $2.0M | 10x | as long as short |
| Phoenix QQQ | +0.0227% | 1h | 741.64 | +0.024% | $38K | $65K | 20x | as long as short |
SunX QQQ-USDT
HTX QQQ-USDT
Phemex QQQUSDT
Binance QQQUSDT
edgeX QQQUSDC
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
GRVT QQQ_USDT_Perp
Phoenix QQQ