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: KuCoin against Phemex−0.160%50s7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$236as 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−$2442.438% of the position

Long on Phemex Short on KuCoin

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)+0.022%+$2 · spread now −0.160%, 7d avg −0.098%

Together, before fees+0.100%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.062% cheaper against Phemex than usual: you would sell low and buy high (spread −0.160% now, against its 7-day average of −0.098%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.079% in total) that is about 5.5 days. The two prices were read 50 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	Phemex GOOGLUSDT	357.28	0	get 0.0000% / 4h	1h 52m	$2.7M	$87K	10x
Short	KuCoin GOOGLUSDTM	356.71	0.0100	get 0.0100% / 8h	1h 52m	$3.0M	$109K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now −0.160%Rate

Funding earned: $21
Price spread: −0.160% → −0.098%: −$6.19
Slippage, 4 orders: −$219.81
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$228.99
Costs to cover: 2.438%
Break-even: 83.3 days

Slippage from Phemex: live order book, 6 min ago; KuCoin: live order book, 5 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 Phemex live order book, 6 min ago	2.24 bp	32.0 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	3.50 bp	76.6 bp −$77	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	356.88	−0.112%	$519K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0004%	1h	356.98	−0.085%	$557K	$86K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.09	−0.053%	$13.6M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.03	−0.070%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.23	−0.014%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.09	−0.052%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.15	−0.035%	$24K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.17	−0.031%	$2K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.90	−0.106%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.32	+0.011%	$115K	$212K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDTlong	0.0000%	4h	357.28	long leg	$2.7M	$87K	10x
Aftermath Perps GOOGLUSD	+0.0024%	1h	357.22	−0.017%	$144K	$46K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.09	−0.053%	$1.4M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.045%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0038%	1h	357.03	−0.070%	$1.3M	$4.2M	10x	as long as short
Aster GOOGLUSDT	+0.0040%	8h	357.32	+0.010%	$365K	$424K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0040%	1h	356.92	−0.101%	$33K	—	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.90	−0.106%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.23	−0.014%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.95	−0.092%	$98.1M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.98	−0.084%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.91	−0.104%	$158	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.84	−0.123%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0056%	8h	357.11	−0.049%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0061%	8h	357.17	−0.031%	$72.1M	$143.6M	50x	as long as short
Extended GOOGL-USD	+0.0064%	1h	357.07	−0.058%	$422K	$1.2M	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	357.09	−0.053%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.96	−0.089%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTMshort	+0.0100%	8h	356.71	−0.160%	$3.0M	$109K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.00	−0.078%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.97	−0.087%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.03	−0.069%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0176%	1h	357.16	−0.034%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0181%	8h	357.13	−0.042%	$690K	$235K	20x	as long as short
Bybit GOOGLUSDT	+0.0182%	8h	357.19	−0.025%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0833%	4h	357.10	−0.051%	$208K	$1.2M	10x	as long as short