Funding you earn now, next payment 02:00 UTC+0.0121%/8h= +13.3% APRnext payment +$0.15 per $10,000 · paid last 24h −0.011%
Price spread now: Deribit against Lighter+0.004%7-day average −0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$120.118% of the position
Funding, last 5 days (all we have)+0.041%+$4 on $10k
+Price spread, last 3 days (all we have)+0.003%$0 · spread now +0.004%, 7d avg −0.030%
=Together, before fees+0.044%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.034% dearer against Lighter than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.030%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter QQQ | 743.85 | 0.0032 | pay 0.0004% / 1h | 35m 37s | $7.8M | $17.7M | 30x |
| Short | Deribit QQQ_USDC-PERPETUAL | 743.88 | 0.0153 | get 0.0019% / 1h | 35m 37s | $425K | $148K | 20x |
Lighter QQQ
Deribit QQQ_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $25.5
- Price spread: +0.004% → −0.030%
- $3.44
- Slippage, 4 orders
- −$4.84
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $17.11
- Costs to cover
- 0.118%
- Break-even
- 2.3 days
Slippage from Lighter: live order book, 8 min ago; Deribit: live order book, 33 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, 8 min ago | 0.54 bp | 1.2 bp −$1 | 2.5 bp −$25 | 13.8 bp −$1,381 | 48.3 bp −$24.1K |
| Sell Deribit live order book, 33 min ago | 0.07 bp | 6.0 bp −$6 | 8.8 bp −$88 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps QQQ-USD.P | −0.0165% | 1h | 742.89 | −0.129% | $4.2M | $1.9M | 20x | as long as short |
| GMX QQQ/USD [ETH-USDC] | L −0.0097% / S +0.0202% | 1h | 744.07 | +0.029% | $25K | — | 26x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 744.01 | +0.022% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.89 | +0.005% | $21.5M | $25.6M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 743.68 | −0.023% | $3.3M | $21.7M | 50x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.46 | +0.082% | $2K | $2.1M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 744.08 | +0.031% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 744.20 | +0.047% | $361K | $1.4M | 10x | as long as short |
| Aster QQQUSDT | +0.0009% | 8h | 744.09 | +0.032% | $841K | $712K | 20x | as long as short |
| BloFin QQQ-USDT | +0.0026% | 8h | 744.31 | +0.062% | $1.1M | $319K | 20x | as long as short |
Ondo Perps QQQ-USD.P
GMX QQQ/USD [ETH-USDC]
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
SunX QQQ-USDT
HTX QQQ-USDT
Phemex QQQUSDT
Aster QQQUSDT
BloFin QQQ-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter QQQlong | +0.0032% | 1h | 743.85 | long leg | $7.8M | $17.7M | 30x | |
| Lighter RH QQQ | +0.0032% | 1h | 744.26 | +0.055% | $37.4M | $79.7M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 743.15 | −0.094% | $703K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 745.08 | +0.165% | — | $337K | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0048% | 1h | 743.40 | −0.060% | $1.2M | $536K | 20x | as long as short |
| Variational Omni QQQ | +0.0062% | 8h | 743.95 | +0.013% | $17.1M | $7.6M | — | as long as short |
| Bitget QQQUSDT | +0.0066% | 8h | 744.13 | +0.038% | $16.9M | $5.9M | 20x | as long as short |
| Binance QQQUSDT | +0.0086% | 8h | 744.06 | +0.029% | $71.1M | $147.6M | 25x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 743.83 | −0.003% | $3.4M | $406K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.62 | −0.031% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.81 | −0.005% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.30 | −0.074% | $93K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0121% | 1h | 743.72 | −0.018% | $1.5M | $1.0M | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUALshort | +0.0153% | 1h | 743.88 | +0.004% | $425K | $148K | 20x | |
| RISEx QQQ/USDC | +0.0168% | 1h | 744.13 | +0.038% | $5.4M | $8.1M | 25x | as long as short |
| Phoenix QQQ | +0.0183% | 1h | 743.66 | −0.026% | $38K | $66K | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0230% | 8h | 744.26 | +0.056% | $318K | $1.8M | 10x | as long as short |
| edgeX QQQUSDC | +0.0751% | 4h | 743.92 | +0.010% | $761K | $334K | 20x | as long as short |
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Coinbase International QQQ-PERP-INTX
Variational Omni QQQ
Bitget QQQUSDT
Binance QQQUSDT
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
RISEx QQQ/USDC
Phoenix QQQ
GRVT QQQ_USDT_Perp
edgeX QQQUSDC