Funding you earn now, next payment 01:00 UTC−0.0125%/8h= −13.7% APRpaid last 24h +0.012%
Price spread now: Variational Omni against Phoenix+0.041%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
The price spread pays, funding is against you. Variational Omni is 0.041% dearer against Phoenix than usual: you sell high and buy low (spread +0.041% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 26 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix QQQ | 744.18 | 0.0183 | pay 0.0023% / 1h | 17m 23s | $38K | $66K | 20x |
| Short | Variational Omni QQQ | 744.49 | 0.0057 | get 0.0057% / 8h | 6h 17m | $17.1M | $7.5M | — |
Phoenix QQQ
Variational Omni QQQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$26.33
- Price spread: +0.041% → 0.000%
- $4.13
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$29.2
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 2 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 Variational Omni RFQ quote, 2 min ago | 1.90 bp | doesn't fit | 2.0 bp −$20 | 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 27 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 −0.0101% / S +0.0205% | 1h | 744.72 | +0.072% | $25K | — | 26x | as long as short |
| Ondo Perps QQQ-USD.P | −0.0097% | 1h | 743.32 | −0.116% | $4.2M | $1.9M | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 744.80 | +0.083% | $10.7M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 744.61 | +0.058% | $21.7M | $26.5M | 50x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 744.22 | +0.005% | $3.3M | $23.2M | 50x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 745.09 | +0.122% | $2K | $2.1M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 744.30 | +0.016% | $425K | $148K | 20x | as long as short |
| HTX QQQ-USDT | 0.0000% | 8h | 744.70 | +0.070% | $257K | $29K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 744.77 | +0.079% | $357K | $1.4M | 10x | as long as short |
| Aster QQQUSDT | +0.0006% | 8h | 744.46 | +0.038% | $841K | $712K | 20x | as long as short |
GMX QQQ/USD [ETH-USDC]
Ondo Perps QQQ-USD.P
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
Gate QQQ_USDT
SunX QQQ-USDT
Deribit QQQ_USDC-PERPETUAL
HTX QQQ-USDT
Phemex QQQUSDT
Aster QQQUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget QQQUSDT | +0.0030% | 8h | 744.69 | +0.069% | $16.9M | $5.9M | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 744.47 | +0.039% | $7.7M | $17.8M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 744.89 | +0.095% | $37.4M | $80.3M | 50x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 743.72 | −0.062% | $705K | $1.6M | 25x | as long as short |
| Vest QQQ-USD-PERP | +0.0046% | 1h | 745.57 | +0.187% | — | $337K | 50x | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0048% | 1h | 744.11 | −0.009% | $1.2M | $538K | 20x | as long as short |
| Variational Omni QQQshort | +0.0057% | 8h | 744.49 | +0.041% | $17.1M | $7.5M | — | |
| Binance QQQUSDT | +0.0083% | 8h | 744.64 | +0.062% | $71.1M | $147.3M | 25x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 744.31 | +0.017% | $3.4M | $412K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 744.10 | −0.011% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 744.36 | +0.024% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 743.83 | −0.047% | $93K | $1K | 10x | as long as short |
| Nado QQQ-PERP | +0.0122% | 1h | 744.28 | +0.013% | $1.5M | $952K | 20x | as long as short |
| RISEx QQQ/USDC | +0.0168% | 1h | 744.67 | +0.066% | $5.4M | $8.0M | 25x | as long as short |
| Phoenix QQQlong | +0.0183% | 1h | 744.18 | long leg | $38K | $66K | 20x | |
| GRVT QQQ_USDT_Perp | +0.0198% | 8h | 744.63 | +0.060% | $320K | $1.8M | 10x | as long as short |
| edgeX QQQUSDC | +0.0490% | 4h | 744.37 | +0.026% | $761K | $335K | 20x | as long as short |
Bitget QQQUSDT
Lighter QQQ
Lighter RH QQQ
Arcus QQQ-USD
Vest QQQ-USD-PERP
Coinbase International QQQ-PERP-INTX
Binance QQQUSDT
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
Nado QQQ-PERP
RISEx QQQ/USDC
GRVT QQQ_USDT_Perp
edgeX QQQUSDC