Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h +0.005%

Price spread now: Phoenix against KuCoin−0.017%93s7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1221.216% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now −0.017%, 7d avg +0.013%

Together, before fees+0.095%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.030% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.013%). If the spread goes back, that is −$3 on $10k: about 42 hours of funding at the current rate (+$2 a day). The two prices were read 93 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	KuCoin GOOGLUSDTM	356.32	0.0100	pay 0.0100% / 8h	15m 45s	$3.0M	$66K	20x
Short	Phoenix GOOGL	356.26	0.0157	get 0.0020% / 1h	15m 45s	$137K	$48K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.017%Rate

Funding earned: $11.98
Price spread: −0.017% → +0.013%: −$2.99
Slippage, 4 orders: −$102.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$112.6
Costs to cover: 1.216%
Break-even: 72.8 days

Slippage from KuCoin: live order book, 2 min ago; Phoenix: live order book, 55 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, 2 min ago	6.74 bp	45.5 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 55 min ago	3.09 bp	9.1 bp −$9	19.2 bp −$192	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
Gate GOOGL_USDT	0.0000%	8h	356.44	+0.034%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.61	+0.081%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.67	+0.098%	$114K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.65	+0.093%	$2.7M	$66K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0008%	1h	356.24	−0.022%	$530K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0018%	1h	356.38	+0.018%	$144K	$53K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.57	+0.070%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.225%	$128K	$45K	30x	as long as short
GRVT GOOGL_USDT_Perp	+0.0043%	8h	356.56	+0.067%	$23K	$473K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.52	+0.056%	—	$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	356.27	−0.014%	$98.2M	$25.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.29	−0.008%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.32	0.000%	$177	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.26	−0.017%	$2.3M	$4.9M	15x	as long as short
Variational Omni GOOGL	+0.0059%	8h	356.56	+0.068%	$4.7M	$2.6M	—	as long as short
QFEX GOOGL-USD	+0.0060%	1h	356.49	+0.048%	$1.3M	$4.9M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0084%	8h	356.51	+0.052%	$292	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.24	−0.024%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTMlong	+0.0100%	8h	356.32	long leg	$3.0M	$66K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.36	+0.011%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.44	+0.034%	$10K	$10K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0104%	1h	356.31	−0.003%	$33K	—	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.48	+0.044%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0108%	8h	356.69	+0.105%	$363K	$457K	20x	as long as short
Nado GOOGL-PERP	+0.0109%	1h	356.28	−0.010%	$559K	$81K	20x	as long as short
Bybit GOOGLUSDT	+0.0123%	8h	356.62	+0.084%	$11.5M	$7.8M	100x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.50	+0.051%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0129%	8h	356.56	+0.068%	$73.1M	$142.9M	50x	as long as short
Bitget GOOGLUSDT	+0.0129%	8h	356.52	+0.056%	$16.8M	$9.3M	100x	as long as short
Phoenix GOOGLshort	+0.0157%	1h	356.26	−0.017%	$137K	$48K	20x
OKX GOOGL-USDT-SWAP	+0.0177%	8h	356.60	+0.079%	$13.8M	$12.9M	50x	as long as short
BloFin GOOGL-USDT	+0.0249%	8h	356.63	+0.087%	$692K	$236K	20x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.35	+0.008%	$202K	$271K	10x	as long as short
Lighter GOOGL	+0.0264%	1h	356.53	+0.059%	$2.1M	$1.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0283%	1h	356.42	+0.028%	$23K	$152K	10x	as long as short
edgeX GOOGLUSDC	+0.0808%	4h	356.50	+0.050%	$210K	$1.2M	10x	as long as short