Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.012%
Price spread now: Phemex against Lighter RH+0.011%7-day average +0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$600.599% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.011%, 7d avg +0.054%
=Together, before fees−0.049%+ Points / potential airdropLighter RH: Points live · farm board−$5 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 Phemex is 0.044% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.054%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH QQQ | 743.38 | 0.0032 | pay 0.0004% / 1h | 10m 27s | $36.9M | $80.9M | 50x |
| Short | Phemex QQQUSDT | 743.46 | 0 | get 0.0000% / 8h | 2h 10m | $361K | $1.6M | 10x |
Lighter RH QQQ
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Lighter RH. 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: +0.011% → +0.054%
- −$4.36
- Slippage, 4 orders
- −$47.93
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$71.01
- Costs to cover
- 0.599%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 4 min ago; Phemex: live order book, 3 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 RH live order book, 4 min ago | 0.14 bp | 1.0 bp −$1 | 1.8 bp −$18 | 10.3 bp −$1,026 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 2.02 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 −0.0152% / S +0.0245% | 1h | 743.38 | +0.001% | $25K | — | 26x | as long as short |
| BloFin QQQ-USDT | −0.0020% | 8h | 742.85 | −0.071% | $1.1M | $277K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 742.82 | −0.075% | $824K | $857K | 20x | as long as short |
| Binance QQQUSDT | 0.0000% | 8h | 743.28 | −0.013% | $70.0M | $144.8M | 25x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 743.30 | −0.011% | $10.6M | $5.2M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.07 | −0.042% | $21.5M | $28.3M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 743.09 | −0.039% | $5.4M | $6.7M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 742.56 | −0.110% | $3.3M | $21.4M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 743.31 | −0.009% | $16.6M | $5.6M | 20x | as long as short |
| Variational Omni QQQ | 0.0000% | 8h | 743.18 | −0.026% | $16.9M | $7.3M | — | as long as short |
GMX QQQ/USD [ETH-USDC]
BloFin QQQ-USDT
Aster QQQUSDT
Binance QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
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 | 743.79 | +0.055% | $2K | $1.8M | 10x | as long as short |
| Coinbase International QQQ-PERP-INTX | 0.0000% | 1h | 742.77 | −0.082% | $1.2M | $541K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 743.33 | −0.007% | $251K | $41K | 30x | as long as short |
| Phemex QQQUSDTshort | 0.0000% | 8h | 743.46 | +0.011% | $361K | $1.6M | 10x | |
| Ondo Perps QQQ-USD.P | +0.0003% | 1h | 742.06 | −0.178% | $4.2M | $1.8M | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 743.05 | −0.044% | $7.6M | $15.7M | 30x | as long as short |
| Lighter RH QQQlong | +0.0032% | 1h | 743.38 | long leg | $36.9M | $80.9M | 50x | |
| Arcus QQQ-USD | +0.0040% | 1h | 742.04 | −0.180% | $688K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 744.08 | +0.094% | — | $337K | 50x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0090% | 8h | 742.89 | −0.066% | $315K | $2.0M | 10x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 742.80 | −0.078% | $3.4M | $363K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 742.56 | −0.110% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 743.01 | −0.050% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.54 | −0.113% | $92K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0122% | 1h | 742.76 | −0.083% | $1.5M | $748K | 20x | as long as short |
| Phoenix QQQ | +0.0129% | 1h | 742.54 | −0.113% | $38K | $66K | 20x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0275% | 1h | 743.07 | −0.042% | $424K | $152K | 20x | as long as short |
| edgeX QQQUSDC | +0.0907% | 4h | 742.99 | −0.053% | $760K | $333K | 20x | as long as short |
SunX QQQ-USDT
Coinbase International QQQ-PERP-INTX
HTX QQQ-USDT
Ondo Perps QQQ-USD.P
Lighter QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
GRVT QQQ_USDT_Perp
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
Phoenix QQQ
Deribit QQQ_USDC-PERPETUAL
edgeX QQQUSDC