Funding you earn now, next payment 08:00 UTC−0.0203%/8h= −22.2% APRnext payment −$0.25 per $10,000 · paid last 24h −0.009%
Price spread now: Vest against Phoenix+0.333%58s7-day average — · you sell dearer than you buy
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
=The price spread pays, funding is against you. Vest is 0.333% dearer against Phoenix than usual: you sell high and buy low (spread +0.333% now, against zero (this spread has no 7-day history yet)): +$33 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 5.5 days. The two prices were read 58 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 | Phoenix QQQ | 739.00 | 0.0248 | pay 0.0031% / 1h | 20m 25s | $38K | $65K | 20x |
| Short | Vest QQQ-USD-PERP | 741.46 | 0.0046 | get 0.0006% / 1h | 20m 25s | — | $337K | 50x |
Phoenix QQQ
Vest QQQ-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$42.53
- Price spread: +0.333% → 0.000%
- $33.29
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$18.25
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Vest: no order-book sample. 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 Vest no order-book sample | — | — | — | — | — |
Phoenix and Vest: 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 −0.0187% / S +0.0273% | 1h | 740.46 | +0.197% | $25K | — | 26x | as long as short |
| BloFin QQQ-USDT | −0.0009% | 8h | 740.02 | +0.138% | $1.1M | $278K | 20x | as long as short |
| Aster QQQUSDT | 0.0000% | 8h | 739.71 | +0.096% | $820K | $903K | 20x | as long as short |
| Bybit QQQUSDT | 0.0000% | 8h | 740.58 | +0.214% | $10.6M | $5.0M | 50x | as long as short |
| OKX QQQ-USDT-SWAP | 0.0000% | 8h | 740.22 | +0.165% | $21.8M | $29.9M | 50x | as long as short |
| RISEx QQQ/USDC | 0.0000% | 1h | 740.23 | +0.166% | $5.4M | $5.7M | 25x | as long as short |
| Gate QQQ_USDT | 0.0000% | 8h | 739.86 | +0.116% | $3.3M | $20.8M | 50x | as long as short |
| Bitget QQQUSDT | 0.0000% | 8h | 740.44 | +0.195% | $16.5M | $5.1M | 20x | as long as short |
| SunX QQQ-USDT | 0.0000% | 8h | 740.78 | +0.241% | $2K | $1.6M | 10x | as long as short |
| Deribit QQQ_USDC-PERPETUAL | 0.0000% | 1h | 740.09 | +0.147% | $423K | $128K | 20x | as long as short |
GMX QQQ/USD [ETH-USDC]
BloFin QQQ-USDT
Aster QQQUSDT
Bybit QQQUSDT
OKX QQQ-USDT-SWAP
RISEx QQQ/USDC
Gate QQQ_USDT
Bitget QQQUSDT
SunX QQQ-USDT
Deribit QQQ_USDC-PERPETUALShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX QQQ-USDT | 0.0000% | 8h | 739.76 | +0.103% | $250K | $38K | 30x | as long as short |
| Phemex QQQUSDT | 0.0000% | 8h | 740.62 | +0.219% | $365K | $1.6M | 10x | as long as short |
| Variational Omni QQQ | +0.0003% | 8h | 740.38 | +0.186% | $16.7M | $7.2M | — | as long as short |
| Coinbase International QQQ-PERP-INTX | +0.0024% | 1h | 739.81 | +0.110% | $1.2M | $499K | 20x | as long as short |
| Lighter QQQ | +0.0032% | 1h | 740.19 | +0.161% | $7.6M | $15.5M | 30x | as long as short |
| Lighter RH QQQ | +0.0032% | 1h | 740.64 | +0.222% | $37.6M | $80.3M | 50x | as long as short |
| Binance QQQUSDT | +0.0032% | 8h | 740.48 | +0.200% | $70.3M | $141.0M | 25x | as long as short |
| Arcus QQQ-USD | +0.0040% | 1h | 739.55 | +0.074% | $647K | $1.5M | 25x | as long as short |
| Vest QQQ-USD-PERPshort | +0.0046% | 1h | 741.46 | +0.333% | — | $337K | 50x | |
| Ondo Perps QQQ-USD.P | +0.0050% | 1h | 739.35 | +0.047% | $4.2M | $1.8M | 20x | as long as short |
| KuCoin QQQUSDTM | +0.0100% | 8h | 739.91 | +0.123% | $3.4M | $392K | 20x | as long as short |
| ApeX Omni QQQUSDT | +0.0100% | 1h | 739.50 | +0.068% | $20K | $2.2M | 50x | as long as short |
| Orderly PERP_QQQ_USDC_mythos | +0.0100% | 8h | 739.94 | +0.127% | $12K | $21K | 20x | as long as short |
| Aevo QQQ-PERP | +0.0104% | 1h | 739.46 | +0.062% | $92K | $1K | 10x | as long as short |
| GRVT QQQ_USDT_Perp | +0.0137% | 8h | 740.00 | +0.136% | $314K | $2.0M | 10x | as long as short |
| Nado QQQ-PERP | +0.0151% | 1h | 739.95 | +0.128% | $1.6M | $747K | 20x | as long as short |
| Phoenix QQQlong | +0.0248% | 1h | 739.00 | long leg | $38K | $65K | 20x | |
| edgeX QQQUSDC | +0.0541% | 4h | 739.75 | +0.102% | $756K | $335K | 20x | as long as short |
HTX QQQ-USDT
Phemex QQQUSDT
Variational Omni QQQ
Coinbase International QQQ-PERP-INTX
Lighter QQQ
Lighter RH QQQ
Binance QQQUSDT
Arcus QQQ-USD
Ondo Perps QQQ-USD.P
KuCoin QQQUSDTM
ApeX Omni QQQUSDT
Orderly PERP_QQQ_USDC_mythos
Aevo QQQ-PERP
GRVT QQQ_USDT_Perp
Nado QQQ-PERP
edgeX QQQUSDC