Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h −0.015%

Price spread now: QFEX against KuCoin+0.098%7-day average +0.029% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$210as in the Price arb table

costs, in and out, $10k−$2172.169% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days−0.021%−$2 · spread now +0.098%, 7d avg +0.029%

Together, before fees−0.022%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.068% dearer against KuCoin than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of +0.029%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.3 days. At the pace of the last 4 days (−0.001% in total) that is about 8 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin GOOGLUSDTM	357.60	0.0100	pay 0.0100% / 8h	3h 15m	$3.0M	$106K	20x
Short	QFEX GOOGL-USD	357.95	0.0064	get 0.0008% / 1h	15m 50s	$1.3M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$7.64
Price spread: +0.098% → +0.029%: $6.85
Slippage, 4 orders: −$194.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$217.65
Costs to cover: 2.169%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; QFEX: live order book, 8 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, 6 min ago	1.82 bp	102.4 bp −$102	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	1.40 bp	6.4 bp −$6	8.2 bp −$82	14.4 bp −$1,439	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	357.89	+0.081%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	358.09	+0.137%	$17.5M	$9.7M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	358.05	+0.126%	$2K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.78	+0.050%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.98	+0.106%	$115K	$217K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	358.11	+0.143%	$2.7M	$85K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.67	+0.020%	$522K	$1.1M	10x	as long as short
Nado GOOGL-PERP	+0.0017%	1h	357.78	+0.050%	$558K	$86K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.78	+0.049%	$145K	$47K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0027%	8h	357.98	+0.106%	$24K	$443K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH GOOGL	+0.0032%	1h	358.05	+0.126%	$1.3M	$2.1M	20x	as long as short
Variational Omni GOOGL	+0.0033%	8h	357.99	+0.110%	$4.8M	$2.4M	—	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.134%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.73	+0.036%	$208K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	358.01	+0.115%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.81	+0.059%	$99.2M	$20.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.81	+0.059%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.79	+0.053%	$148	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.63	+0.008%	$2.3M	$4.9M	15x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	357.79	+0.053%	$33K	—	20x	as long as short
QFEX GOOGL-USDshort	+0.0064%	1h	357.95	+0.098%	$1.3M	$4.2M	10x
Paradex GOOGL-USD-PERP	+0.0068%	8h	357.97	+0.102%	$294	$253	5x	as long as short
OKX GOOGL-USDT-SWAP	+0.0084%	8h	357.98	+0.106%	$13.8M	$12.5M	50x	as long as short
Aster GOOGLUSDT	+0.0089%	8h	357.80	+0.056%	$366K	$426K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.98	+0.106%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTMlong	+0.0100%	8h	357.60	long leg	$3.0M	$106K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.71	+0.031%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.77	+0.048%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.92	+0.090%	$25K	—	10x	as long as short
Binance GOOGLUSDT	+0.0109%	8h	358.04	+0.124%	$72.5M	$142.6M	50x	as long as short
Extended GOOGL-USD	+0.0112%	1h	357.95	+0.098%	$419K	$1.2M	20x	as long as short
Phoenix GOOGL	+0.0179%	1h	357.75	+0.042%	$138K	$36K	20x	as long as short
Lighter GOOGL	+0.0208%	1h	358.04	+0.123%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0228%	8h	358.01	+0.115%	$694K	$234K	20x	as long as short
Bybit GOOGLUSDT	+0.0246%	8h	358.10	+0.140%	$12.1M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0716%	4h	357.99	+0.108%	$209K	$1.2M	10x	as long as short