Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0164%/8h= −17.9% APRpaid last 24h −0.075%

Price spread now: QFEX against BloFin−0.039%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$270.265% of the position

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.187%−$19 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.039%, 7d avg −0.016%

Together, before fees−0.239%−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and QFEX is 0.023% cheaper against BloFin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin GOOGL-USDT	357.37	0.0211	pay 0.0211% / 8h	2h 50m	$693K	$235K	20x
Short	QFEX GOOGL-USD	357.23	0.0047	get 0.0006% / 1h	50m 12s	$1.3M	$4.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$34.35
Price spread: −0.039% → −0.016%: −$2.28
Slippage, 4 orders: −$4.53
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$63.15
Costs to cover: 0.265%
Break-even: never at this rate

Slippage from BloFin: live order book, 41 min ago; QFEX: 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 BloFin live order book, 41 min ago	0.14 bp	6.2 bp −$6	7.2 bp −$72	15.0 bp −$1,501	doesn't fit
Sell QFEX live order book, 3 min ago	1.68 bp	6.7 bp −$7	8.2 bp −$82	13.6 bp −$1,364	doesn't fit

GOOGL on 36 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
Hotstuff GOOGL-PERP	0.0000%	1h	357.10	−0.076%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.21	−0.045%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.35	−0.006%	$17.5M	$9.7M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.31	−0.017%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.04	−0.092%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.43	+0.017%	$115K	$215K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.42	+0.014%	$2.7M	$87K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0006%	8h	357.34	−0.008%	$23K	$446K	10x	as long as short
Nado GOOGL-PERP	+0.0012%	1h	357.09	−0.079%	$557K	$86K	20x	as long as short
Variational Omni GOOGL	+0.0014%	8h	357.33	−0.011%	$4.8M	$2.4M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.19	−0.050%	$521K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.26	−0.032%	$144K	$47K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.23	−0.039%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.070%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.15	−0.062%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.32	−0.014%	—	$5K	25x	as long as short
QFEX GOOGL-USDshort	+0.0047%	1h	357.23	−0.039%	$1.3M	$4.3M	10x
OKX GOOGL-USDT-SWAP	+0.0048%	8h	357.28	−0.025%	$13.7M	$12.5M	50x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.11	−0.073%	$99.1M	$20.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.14	−0.064%	$685K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.10	−0.076%	$146	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.04	−0.092%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0064%	8h	357.23	−0.038%	$293	$253	5x	as long as short
Aster GOOGLUSDT	+0.0071%	8h	357.42	+0.014%	$366K	$426K	20x	as long as short
Extended GOOGL-USD	+0.0088%	1h	357.19	−0.052%	$424K	$1.2M	20x	as long as short
Binance GOOGLUSDT	+0.0091%	8h	357.26	−0.031%	$72.2M	$143.1M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.10	−0.076%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.12	−0.070%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.18	−0.053%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.18	−0.053%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.17	−0.057%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0120%	1h	357.24	−0.036%	$2.0M	$1.3M	20x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.24	−0.036%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDTlong	+0.0211%	8h	357.37	long leg	$693K	$235K	20x
Bybit GOOGLUSDT	+0.0225%	8h	357.38	+0.003%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0992%	4h	357.35	−0.007%	$208K	$1.2M	10x	as long as short