Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0040%/8h= −4.3% APRpaid last 24h −0.016%

Price spread now: QFEX against Orderly+0.008%46s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 46 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	Orderly PERP_GOOGL_USDC	356.40	0.0100	pay 0.0100% / 8h	19m 31s	$10K	$10K	20x
Short	QFEX GOOGL-USD	356.43	0.0060	get 0.0008% / 1h	19m 31s	$1.3M	$4.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Orderly. 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 OrderlybpFee QFEXbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$8.32
Price spread: +0.008% → 0.000%: $0.84
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$23.47
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; QFEX: live order book, 4 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell QFEX live order book, 4 min ago	1.26 bp	6.3 bp −$6	7.2 bp −$72	11.2 bp −$1,116	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	356.39	−0.003%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.54	+0.039%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.26	−0.039%	$22K	$152K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.64	+0.067%	$114K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.59	+0.053%	$2.7M	$66K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0008%	1h	356.40	0.000%	$530K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0017%	1h	356.38	−0.004%	$144K	$54K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.56	+0.045%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.202%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.47	+0.020%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT GOOGL_USDT_Perp	+0.0047%	8h	356.56	+0.045%	$23K	$473K	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.28	−0.034%	$98.2M	$25.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.29	−0.031%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.27	−0.036%	$182	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.17	−0.065%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USDshort	+0.0060%	1h	356.43	+0.008%	$1.3M	$4.9M	10x
Variational Omni GOOGL	+0.0061%	8h	356.49	+0.024%	$4.7M	$2.6M	—	as long as short
Paradex GOOGL-USD-PERP	+0.0087%	8h	356.45	+0.015%	$292	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.20	−0.055%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.30	−0.028%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.39	−0.003%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	356.40	long leg	$10K	$10K	20x
Aevo GOOGL-PERP	+0.0104%	1h	356.43	+0.009%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0108%	8h	356.66	+0.073%	$363K	$455K	20x	as long as short
Nado GOOGL-PERP	+0.0109%	1h	356.27	−0.037%	$559K	$81K	20x	as long as short
Bybit GOOGLUSDT	+0.0119%	8h	356.60	+0.056%	$11.5M	$7.8M	100x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.47	+0.020%	$421K	$1.6M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0128%	1h	356.26	−0.039%	$33K	—	20x	as long as short
Bitget GOOGLUSDT	+0.0128%	8h	356.52	+0.034%	$16.8M	$9.3M	100x	as long as short
Binance GOOGLUSDT	+0.0129%	8h	356.56	+0.045%	$73.1M	$142.9M	50x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.26	−0.039%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0174%	8h	356.57	+0.048%	$13.9M	$12.8M	50x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.29	−0.031%	$202K	$271K	10x	as long as short
BloFin GOOGL-USDT	+0.0251%	8h	356.54	+0.039%	$692K	$236K	20x	as long as short
Lighter GOOGL	+0.0272%	1h	356.53	+0.036%	$2.1M	$1.1M	20x	as long as short
edgeX GOOGLUSDC	+0.0806%	4h	356.54	+0.040%	$210K	$1.2M	10x	as long as short