Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.012%
Price spread now: Coinbase International against Lighter−0.112%7-day average −0.036% · you buy dearer than you sell
Net, funding: paid 7d − costs+$2as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$130.131% of the position
Funding, last 7 days+0.146%+$15 on $10k
+Price spread, last 4 days (all we have)+0.230%+$23 · spread now −0.112%, 7d avg −0.036%
=Together, before fees+0.376%+ Points / potential airdropLighter: Season 3 · farm board+$38 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.075% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.036%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.146%, 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 | Lighter QQQ | 743.47 | 0.0032 | pay 0.0004% / 1h | 42m 15s | $7.7M | $15.8M | 30x |
| Short | Coinbase International QQQ-PERP-INTX | 742.64 | 0 | get 0.0000% / 1h | 42m 15s | $1.2M | $536K | 20x |
Lighter QQQ
Coinbase International QQQ-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. 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: −0.112% → −0.036%
- −$7.54
- Slippage, 4 orders
- −$3.06
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$27.32
- Costs to cover
- 0.131%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; Coinbase International: 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 Lighter live order book, 6 min ago | 0.74 bp | 0.7 bp −$1 | 1.7 bp −$17 | 15.0 bp −$1,501 | 53.1 bp −$26.5K |
| Sell Coinbase International live order book, 1 min ago | 0.07 bp | 5.5 bp −$5 | 7.3 bp −$73 | 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 −0.0133% / S +0.0230% | 1h | 743.62 | +0.020% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0035% | 1h | 742.52 | −0.128% | $4.2M | $1.8M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0011% | 8h | 743.43 | −0.005% | $1.1M | $256K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 743.48 | +0.001% | $840K | $714K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 743.55 | +0.011% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.48 | +0.001% | $21.5M | $26.9M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.15 | −0.043% | $3.3M | $20.8M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.72 | +0.034% | $16.9M | $5.5M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 743.66 | +0.026% | $17.1M | $7.4M | — | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.07 | +0.081% | $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 | −0.112% | $1.2M | $536K | 20x | |
| HTX QQQ-USDT | 0.0000% | 8h | 743.82 | +0.047% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 743.75 | +0.038% | $361K | $1.6M | 10x | as long as short |
| Binance QQQUSDT | +0.0007% | 8h | 743.53 | +0.008% | $70.9M | $141.2M | 25x | as long as short |
| RISEx QQQ/USDC | +0.0010% | 1h | 743.62 | +0.020% | $5.4M | $7.3M | 25x | as long as short |
| Lighter QQQlong | +0.0032% | 1h | 743.47 | long leg | $7.7M | $15.8M | 30x | |
| Lighter RH QQQ | +0.0040% | 1h | 743.88 | +0.055% | $37.0M | $78.5M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 742.88 | −0.079% | $703K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 744.55 | +0.145% | — | $337K | 50x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0076% | 8h | 743.87 | +0.054% | $326K | $1.9M | 10x | as long as short |
| Nado QQQ-PERP | +0.0089% | 1h | 743.27 | −0.026% | $1.5M | $773K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.30 | −0.023% | $3.4M | $342K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.33 | −0.019% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.29 | −0.024% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.77 | −0.094% | $92K | $1K | 10x | as long as short |
| Phoenix QQQ | +0.0118% | 1h | 743.26 | −0.028% | $38K | $66K | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0154% | 1h | 743.44 | −0.004% | $425K | $150K | 20x | as long as short |
| edgeX QQQUSDC | +0.0750% | 4h | 743.65 | +0.024% | $760K | $336K | 20x | as long as short |
HTX QQQ-USDT
Phemex QQQUSDT
Binance QQQUSDT
RISEx QQQ/USDC
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
GRVT QQQ_USDT_Perp
Nado QQQ-PERP
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Phoenix QQQ
Deribit QQQ_USDC-PERPETUAL
edgeX QQQUSDC