Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against KuCoin+0.135%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$247as in the Funding arb table

Net, price: spread back to 7d avg − costs−$236as in the Price arb table

costs, in and out, $10k−$2392.393% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.135%, 7d avg +0.098%

Together, before fees−0.096%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.036% dearer against KuCoin than usual: you sell high and buy low (spread +0.135% now, against its 7-day average of +0.098%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.079% in total) that is about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin GOOGLUSDTM	356.59	0.0100	pay 0.0100% / 8h	1h 25m	$3.0M	$103K	20x
Short	Phemex GOOGLUSDT	357.07	0	get 0.0000% / 4h	1h 25m	$2.7M	$87K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$21
Price spread: +0.135% → +0.098%: $3.64
Slippage, 4 orders: −$215.26
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$256.62
Costs to cover: 2.393%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; Phemex: 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 KuCoin live order book, 11 min ago	6.18 bp	106.2 bp −$106	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.98 bp	30.1 bp −$30	doesn't fit	doesn't fit	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	+0.003%	$511K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	356.94	+0.098%	$13.6M	$13.0M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.88	+0.081%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.04	+0.126%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	356.93	+0.096%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.82	+0.063%	$23K	$447K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.99	+0.112%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.76	+0.048%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.13	+0.151%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	357.07	+0.135%	$2.7M	$87K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0020%	1h	356.60	+0.002%	$144K	$46K	10x	as long as short
Aster GOOGLUSDT	+0.0025%	8h	357.09	+0.141%	$365K	$424K	20x	as long as short
Nado GOOGL-PERP	+0.0031%	1h	356.83	+0.067%	$549K	$92K	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.97	+0.107%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.149%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0038%	1h	356.93	+0.095%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.63	+0.011%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.10	+0.143%	—	$5K	25x	as long as short
Binance GOOGLUSDT	+0.0046%	8h	357.01	+0.118%	$72.0M	$143.8M	50x	as long as short
Extended GOOGL-USD	+0.0048%	1h	356.91	+0.091%	$423K	$1.2M	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.83	+0.067%	$98.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.75	+0.045%	$684K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.83	+0.067%	$154	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.60	+0.003%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0053%	8h	356.97	+0.106%	$293	$253	5x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.69	+0.028%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.94	+0.098%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTMlong	+0.0100%	8h	356.59	long leg	$3.0M	$103K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.75	+0.045%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.83	+0.067%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.85	+0.073%	$25K	—	10x	as long as short
Hotstuff GOOGL-PERP	+0.0112%	1h	356.81	+0.062%	$33K	—	20x	as long as short
Lighter GOOGL	+0.0128%	1h	356.98	+0.109%	$2.0M	$1.3M	20x	as long as short
Bybit GOOGLUSDT	+0.0152%	8h	357.01	+0.118%	$11.5M	$7.9M	100x	as long as short
BloFin GOOGL-USDT	+0.0168%	8h	356.95	+0.101%	$690K	$236K	20x	as long as short
edgeX GOOGLUSDC	+0.0854%	4h	356.87	+0.077%	$208K	$1.2M	10x	as long as short