Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.015%

Price spread now: QFEX against HTX−0.014%7-day average −0.045% · 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−$27as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now −0.014%, 7d avg −0.045%

Together, before fees−0.062%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.031% dearer against HTX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX GOOGL-USDT	356.76	0	get 0.0000% / 8h	7h 53m	$115K	$224K	30x
Short	QFEX GOOGL-USD	356.71	0.0064	get 0.0008% / 1h	53m 28s	$1.3M	$4.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now −0.014%Rate

Funding earned: $13.34
Price spread: −0.014% → −0.045%: $3.1
Slippage, 4 orders: −$7.83
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$13.4
Costs to cover: 0.298%
Break-even: 14.0 days

Slippage from HTX: live order book, 18 min ago; QFEX: live order book, 10 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 HTX live order book, 18 min ago	2.66 bp	8.7 bp −$9	9.9 bp −$99	doesn't fit	doesn't fit
Sell QFEX live order book, 10 min ago	1.12 bp	6.1 bp −$6	6.9 bp −$69	11.8 bp −$1,183	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
Gate GOOGL_USDT	0.0000%	8h	356.69	−0.020%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.56	−0.056%	$2K	$4.2M	20x	as long as short
HTX GOOGL-USDTlong	0.0000%	8h	356.76	long leg	$115K	$224K	30x
Phemex GOOGLUSDT	0.0000%	4h	356.69	−0.020%	$2.7M	$66K	10x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0003%	1h	356.40	−0.101%	$23K	$152K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0018%	1h	356.26	−0.139%	$144K	$53K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.83	+0.020%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	356.24	−0.146%	$530K	$1.1M	10x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.101%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.71	−0.014%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.55	−0.059%	$98.2M	$24.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.60	−0.045%	$684K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.28	−0.135%	$179	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.31	−0.126%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USDshort	+0.0064%	1h	356.71	−0.014%	$1.3M	$4.8M	10x
Variational Omni GOOGL	+0.0064%	8h	356.63	−0.037%	$4.8M	$2.7M	—	as long as short
Hotstuff GOOGL-PERP	+0.0096%	1h	356.36	−0.112%	$33K	—	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0100%	8h	356.74	−0.006%	$293	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.50	−0.073%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.39	−0.104%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.33	−0.121%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.71	−0.014%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.60	−0.045%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0113%	8h	356.83	+0.020%	$365K	$457K	20x	as long as short
Nado GOOGL-PERP	+0.0116%	1h	356.58	−0.049%	$560K	$81K	20x	as long as short
Binance GOOGLUSDT	+0.0134%	8h	356.84	+0.022%	$73.2M	$142.6M	50x	as long as short
Extended GOOGL-USD	+0.0136%	1h	356.76	0.000%	$421K	$1.6M	20x	as long as short
Bitget GOOGLUSDT	+0.0142%	8h	356.84	+0.022%	$16.9M	$9.1M	100x	as long as short
GRVT GOOGL_USDT_Perp	+0.0144%	8h	356.66	−0.029%	$23K	$472K	10x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.56	−0.056%	$137K	$48K	20x	as long as short
Lighter GOOGL	+0.0168%	1h	356.76	0.000%	$2.1M	$1.1M	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0199%	8h	356.87	+0.031%	$13.8M	$12.9M	50x	as long as short
BloFin GOOGL-USDT	+0.0253%	8h	356.61	−0.042%	$688K	$235K	20x	as long as short
Bybit GOOGLUSDT	+0.0276%	8h	356.91	+0.042%	$11.5M	$7.7M	100x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.45	−0.087%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0950%	4h	356.56	−0.056%	$210K	$1.2M	10x	as long as short