Funding you earn now, next payment 02:00 UTC−0.0121%/8h= −13.3% APRnext payment −$0.15 per $10,000 · paid last 24h 0.000%
Price spread now: Arcus against Phoenix−0.071%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Arcus is 0.071% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix QQQ | 744.14 | 0.0161 | pay 0.0020% / 1h | 3m 15s | $38K | $66K | 20x |
| Short | Arcus QQQ-USD | 743.61 | 0.0040 | get 0.0005% / 1h | 3m 15s | $695K | $1.6M | 25x |
Phoenix QQQ
Arcus QQQ-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. 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
- −$25.42
- Price spread: −0.071% → 0.000%
- −$7.12
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$44.05
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Arcus: live order book, 1 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 1 min ago | 0.20 bp | 4.7 bp −$5 | 11.7 bp −$117 | doesn't fit | doesn't fit |
Phoenix: 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 | |
|---|---|---|---|---|---|---|---|---|
| GMX QQQ/USD [ETH-USDC] | L −0.0116% / S +0.0217% | 1h | 744.48 | +0.045% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0075% | 1h | 743.24 | −0.121% | $4.2M | $1.8M | 20x | as long as short |
| BloFin QQQ-USDT | −0.0010% | 8h | 744.38 | +0.032% | $1.1M | $271K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 744.43 | +0.039% | $841K | $714K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 744.58 | +0.059% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 744.36 | +0.030% | $21.5M | $26.8M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 744.54 | +0.054% | $5.4M | $7.5M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 744.01 | −0.017% | $3.3M | $21.2M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 744.59 | +0.060% | $16.9M | $5.7M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 744.92 | +0.105% | $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
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
SunX QQQ-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX QQQ-USDT | 0.0000% | 8h | 744.78 | +0.086% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 744.77 | +0.085% | $360K | $1.5M | 10x | as long as short |
| Variational Omni QQQ | +0.0018% | 8h | 744.37 | +0.031% | $17.1M | $7.5M | — | as long as short |
| Lighter QQQ | +0.0032% | 1h | 744.32 | +0.024% | $7.7M | $17.2M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 744.76 | +0.083% | $37.1M | $80.8M | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0032% | 1h | 743.92 | −0.030% | $1.2M | $535K | 20x | as long as short |
| Arcus QQQ-USDshort | +0.0040% | 1h | 743.61 | −0.071% | $695K | $1.6M | 25x | |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 745.48 | +0.180% | — | $337K | 50x | as long as short |
| Binance QQQUSDT | +0.0052% | 8h | 744.50 | +0.048% | $71.2M | $142.6M | 25x | as long as short |
| Nado QQQ-PERP | +0.0083% | 1h | 744.13 | −0.002% | $1.5M | $876K | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 744.17 | +0.004% | $3.4M | $403K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 744.22 | +0.011% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 744.23 | +0.012% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.68 | −0.062% | $93K | $1K | 10x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0122% | 8h | 744.71 | +0.077% | $322K | $1.9M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | +0.0126% | 1h | 744.30 | +0.022% | $425K | $149K | 20x | as long as short |
| Phoenix QQQlong | +0.0161% | 1h | 744.14 | long leg | $38K | $66K | 20x | |
| edgeX QQQUSDC | +0.0453% | 4h | 744.45 | +0.042% | $761K | $335K | 20x | as long as short |
HTX QQQ-USDT
Phemex QQQUSDT
Variational Omni QQQ
Lighter QQQ
Lighter RH QQQ
Coinbase International QQQ-PERP-INTX
Vest QQQ-USD-PERP
Binance QQQUSDT
Nado QQQ-PERP
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
GRVT QQQ_USDT_Perp
Deribit QQQ_USDC-PERPETUAL
edgeX QQQUSDC