Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0085%/8h= −9.3% APRpaid last 24h −0.042%

Price spread now: QFEX against Bybit−0.034%7-day average −0.046% · 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−$28as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.063%−$6 on $10k

Price spread, last 7 days+0.005%$0 · spread now −0.034%, 7d avg −0.046%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.046%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GOOGLUSDT	357.15	0.0123	pay 0.0123% / 8h	1h 01m	$11.5M	$7.9M	100x
Short	QFEX GOOGL-USD	357.03	0.0038	get 0.0005% / 1h	1m 56s	$1.3M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$17.89
Price spread: −0.034% → −0.046%: $1.24
Slippage, 4 orders: −$8.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$45.77
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; QFEX: live order book, 7 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 Bybit live order book, 1 min ago	0.14 bp	9.3 bp −$9	15.1 bp −$151	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	1.12 bp	6.1 bp −$6	6.2 bp −$62	11.8 bp −$1,181	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
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.60	−0.154%	$511K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.19	+0.011%	$13.6M	$12.9M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.03	−0.034%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.20	+0.014%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.04	−0.030%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.10	−0.014%	$23K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.16	+0.003%	$1K	$4.0M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.24	+0.025%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.15	0.000%	$2.7M	$88K	10x	as long as short
Aster GOOGLUSDT	+0.0012%	8h	357.29	+0.039%	$365K	$424K	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado GOOGL-PERP	+0.0012%	1h	356.93	−0.062%	$549K	$92K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0020%	1h	356.99	−0.043%	$144K	$45K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.10	−0.014%	$1.3M	$2.1M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.08	−0.020%	$425K	$1.5M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0032%	1h	356.96	−0.053%	$33K	—	20x	as long as short
Binance GOOGLUSDT	+0.0033%	8h	357.21	+0.017%	$72.0M	$143.7M	50x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.008%	$128K	$45K	30x	as long as short
QFEX GOOGL-USDshort	+0.0038%	1h	357.03	−0.034%	$1.3M	$4.2M	10x
Arcus GOOGL-USD	+0.0040%	1h	356.84	−0.087%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.21	+0.017%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.99	−0.045%	$98.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.84	−0.087%	$684K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.97	−0.050%	$141	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.81	−0.095%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0052%	8h	357.05	−0.029%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0079%	8h	356.64	−0.143%	$3.0M	$100K	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.90	−0.070%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.89	−0.073%	$42K	$39K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.88	−0.076%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.97	−0.050%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.00	−0.043%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.09	−0.017%	$2.0M	$1.3M	20x	as long as short
Bybit GOOGLUSDTlong	+0.0123%	8h	357.15	long leg	$11.5M	$7.9M	100x
BloFin GOOGL-USDT	+0.0134%	8h	357.15	0.000%	$688K	$236K	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0226%	1h	357.10	−0.014%	$24K	$156K	10x	as long as short
edgeX GOOGLUSDC	+0.0253%	4h	357.06	−0.026%	$208K	$1.2M	10x	as long as short