Funding you earn now, next payment 00:00 UTC−0.0100%/8hnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against Orderly+0.210%53s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Phemex is 0.210% dearer against Orderly than usual: you sell high and buy low (spread +0.210% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.0 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_QQQ_USDC_mythos | 742.04 | 0.0100 | pay 0.0100% / 8h | 4h 18m | $7K | $15K | 20x |
| Short | Phemex QQQUSDT | 743.60 | 0 | get 0.0000% / 8h | 4h 18m | $364K | $1.3M | 10x |
Orderly PERP_QQQ_USDC_mythos
Phemex QQQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Orderly. 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: +0.210% → 0.000%
- $21.02
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$17.98
- Costs to cover
- 0.180%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 4 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 2.35 bp | 27.7 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0096% | 1h | 741.76 | −0.038% | $4.2M | $2.3M | 20x | as long as short |
| Arcus QQQ-USD | −0.0037% | 1h | 742.47 | +0.058% | $757K | $1.5M | 25x | as long as short |
| GMX QQQ/USD [ETH-USDC] | L −0.0028% / S +0.0136% | 1h | 743.21 | +0.157% | $25K | — | 53x | as long as short |
| Gate QQQ_USDT | −0.0023% | 8h | 742.76 | +0.097% | $3.1M | $33.8M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 743.12 | +0.146% | $21.4M | $26.6M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 743.12 | +0.145% | $5.2M | $9.1M | 25x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 743.66 | +0.218% | $2K | $2.4M | 10x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 743.16 | +0.151% | $257K | $33K | 30x | as long as short |
| Phemex QQQUSDTshort | 0.0000% | 8h | 743.60 | +0.210% | $364K | $1.3M | 10x | |
| Phoenix QQQ | +0.0022% | 1h | 743.12 | +0.146% | $38K | $73K | 20x | as long as short |
Ondo Perps QQQ-USD.P
Arcus QQQ-USD
GMX QQQ/USD [ETH-USDC]
Gate QQQ_USDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
SunX QQQ-USDT
HTX QQQ-USDT
Phoenix QQQShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter QQQ | +0.0032% | 1h | 743.15 | +0.150% | $8.0M | $21.6M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 743.60 | +0.210% | $39.1M | $84.7M | 50x | as long as short |
| Aster QQQUSDT | +0.0037% | 8h | 743.16 | +0.151% | $846K | $585K | 20x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 743.91 | +0.252% | — | $621K | 50x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0060% | 1h | 743.02 | +0.132% | $425K | $303K | 20x | as long as short |
| Bybit QQQUSDT | +0.0064% | 8h | 743.28 | +0.167% | $10.6M | $5.9M | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0064% | 1h | 742.77 | +0.098% | $1.2M | $847K | 20x | as long as short |
| Variational Omni QQQ | +0.0099% | 8h | 743.51 | +0.198% | $17.2M | $10.4M | — | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 742.83 | +0.106% | $3.4M | $440K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 743.23 | +0.160% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythoslong | +0.0100% | 8h | 742.04 | long leg | $7K | $15K | 20x | |
| Aevo QQQ-PERP | +0.0104% | 1h | 742.63 | +0.079% | $92K | $1K | 10x | as long as short |
| Binance QQQUSDT | +0.0118% | 8h | 743.16 | +0.151% | $69.7M | $155.4M | 25x | as long as short |
| BloFin QQQ-USDT | +0.0120% | 8h | 743.09 | +0.142% | $1.0M | $501K | 20x | as long as short |
| Nado QQQ-PERP | +0.0152% | 1h | 743.08 | +0.139% | $1.5M | $1.4M | 20x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0203% | 8h | 743.18 | +0.153% | $322K | $1.5M | 10x | as long as short |
| edgeX QQQUSDC | +0.0204% | 4h | 743.43 | +0.187% | $760K | $336K | 20x | as long as short |
| Bitget QQQUSDT | +0.0282% | 8h | 743.23 | +0.160% | $16.9M | $7.5M | 20x | as long as short |
Lighter QQQ
Lighter RH QQQ
Aster QQQUSDT
Vest QQQ-USD-PERP
Deribit QQQ_USDC-PERPETUAL
Bybit QQQUSDT
Coinbase International QQQ-PERP-INTX
Variational Omni QQQ
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Aevo QQQ-PERP
Binance QQQUSDT
BloFin QQQ-USDT
Nado QQQ-PERP
GRVT QQQ_USDT_Perp
edgeX QQQUSDC
Bitget QQQUSDT