Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against KuCoin+0.077%7-day average +0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$124as in the Funding arb table
Net, price: spread back to 7d avg − costs−$103as in the Price arb table
costs, in and out, $10k−$1041.035% of the position
Funding, last 7 days−0.203%−$20 on $10k
+Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.077%, 7d avg +0.075%
=The price spread sits at its 7-day average of +0.075%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin QQQUSDTM | 742.93 | 0.0100 | pay 0.0100% / 8h | 3h 36m | $3.4M | $339K | 20x |
| Short | Phemex QQQUSDT | 743.50 | 0 | get 0.0000% / 8h | 3h 36m | $358K | $1.6M | 10x |
KuCoin QQQUSDTM
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against KuCoin. 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
- −$21
- Price spread: +0.077% → +0.075%
- $0.17
- Slippage, 4 orders
- −$79.52
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$124.36
- Costs to cover
- 1.035%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago | 1.75 bp | 10.7 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 1 min ago | 1.55 bp | 29.3 bp −$29 | 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 −0.0134% / S +0.0231% | 1h | 743.20 | +0.036% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0043% | 1h | 742.40 | −0.071% | $4.2M | $1.8M | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 743.15 | +0.029% | $840K | $714K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 743.10 | +0.023% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.00 | +0.009% | $21.4M | $26.9M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 742.77 | −0.022% | $3.3M | $20.9M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.32 | +0.052% | $16.9M | $5.5M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 743.22 | +0.040% | $17.1M | $7.3M | — | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 743.58 | +0.087% | $1K | $1.9M | 10x | as long as short |
| Coinbase International QQQ-PERP-INTX | 0.0000% | 1h | 742.64 | −0.039% | $1.2M | $536K | 20x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
Aster QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
Bitget QQQUSDT
Variational Omni QQQ
SunX QQQ-USDT
Coinbase International QQQ-PERP-INTXShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX QQQ-USDT | 0.0000% | 8h | 743.57 | +0.086% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDTshort | 0.0000% | 8h | 743.50 | +0.077% | $358K | $1.6M | 10x | |
| Binance QQQUSDT | +0.0004% | 8h | 743.22 | +0.039% | $70.8M | $141.4M | 25x | as long as short |
| RISEx QQQ/USDC | +0.0010% | 1h | 743.19 | +0.035% | $5.4M | $7.3M | 25x | as long as short |
| BloFin QQQ-USDT | +0.0019% | 8h | 743.11 | +0.024% | $1.1M | $256K | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 743.10 | +0.023% | $7.7M | $15.8M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 743.51 | +0.078% | $37.0M | $78.7M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 742.55 | −0.051% | $702K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 744.19 | +0.170% | — | $337K | 50x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0071% | 8h | 743.29 | +0.048% | $315K | $1.9M | 10x | as long as short |
| Nado QQQ-PERP | +0.0092% | 1h | 742.82 | −0.015% | $1.5M | $763K | 20x | as long as short |
| edgeX QQQUSDC | +0.0096% | 4h | 743.10 | +0.023% | $760K | $334K | 20x | as long as short |
| KuCoin QQQUSDTMlong | +0.0100% | 8h | 742.93 | long leg | $3.4M | $339K | 20x | |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 742.79 | −0.019% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 742.92 | −0.001% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.38 | −0.074% | $92K | $1K | 10x | as long as short |
| Phoenix QQQ | +0.0118% | 1h | 742.77 | −0.022% | $38K | $66K | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0127% | 1h | 743.04 | +0.015% | $424K | $150K | 20x | as long as short |
HTX QQQ-USDT
Binance QQQUSDT
RISEx QQQ/USDC
BloFin QQQ-USDT
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
GRVT QQQ_USDT_Perp
Nado QQQ-PERP
edgeX QQQUSDC
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Phoenix QQQ
Deribit QQQ_USDC-PERPETUAL