Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.014%

Price spread now: QFEX against Phemex−0.039%7-day average −0.032% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$690.690% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.049%−$5 · spread now −0.039%, 7d avg −0.032%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	356.63	0	get 0.0000% / 4h	17m 16s	$2.7M	$66K	10x
Short	QFEX GOOGL-USD	356.49	0.0060	get 0.0008% / 1h	17m 16s	$1.3M	$4.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $12.68
Price spread: −0.039% → −0.032%: −$0.69
Slippage, 4 orders: −$47.01
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$57.02
Costs to cover: 0.690%
Break-even: 38.5 days

Slippage from Phemex: live order book, 1 min ago; QFEX: live order book, 6 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, 1 min ago	0.42 bp	26.1 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	1.26 bp	6.3 bp −$6	7.2 bp −$72	11.2 bp −$1,116	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	356.46	−0.048%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.61	−0.006%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.76	+0.036%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	356.63	long leg	$2.7M	$66K	10x
Coinbase International GOOGL-PERP-INTX	+0.0008%	1h	356.40	−0.064%	$530K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0018%	1h	356.38	−0.070%	$144K	$54K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.60	−0.008%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.137%	$128K	$45K	30x	as long as short
GRVT GOOGL_USDT_Perp	+0.0043%	8h	356.56	−0.020%	$23K	$473K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.52	−0.031%	—	$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	356.31	−0.090%	$98.2M	$25.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.33	−0.084%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.32	−0.087%	$179	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.19	−0.123%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USDshort	+0.0060%	1h	356.49	−0.039%	$1.3M	$4.9M	10x
Variational Omni GOOGL	+0.0061%	8h	356.49	−0.040%	$4.7M	$2.6M	—	as long as short
Paradex GOOGL-USD-PERP	+0.0085%	8h	356.49	−0.039%	$292	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.25	−0.107%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.32	−0.087%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.36	−0.076%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.46	−0.048%	$10K	$10K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0104%	1h	356.32	−0.087%	$33K	—	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.48	−0.042%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0108%	8h	356.68	+0.014%	$363K	$455K	20x	as long as short
Nado GOOGL-PERP	+0.0108%	1h	356.29	−0.095%	$559K	$81K	20x	as long as short
Bybit GOOGLUSDT	+0.0121%	8h	356.66	+0.008%	$11.5M	$7.8M	100x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.54	−0.024%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0129%	8h	356.60	−0.010%	$73.1M	$142.9M	50x	as long as short
Bitget GOOGLUSDT	+0.0129%	8h	356.52	−0.031%	$16.8M	$9.3M	100x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.26	−0.104%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0176%	8h	356.65	+0.006%	$13.9M	$12.8M	50x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0199%	1h	356.43	−0.056%	$23K	$152K	10x	as long as short
BloFin GOOGL-USDT	+0.0249%	8h	356.63	0.000%	$692K	$236K	20x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.36	−0.076%	$202K	$271K	10x	as long as short
Lighter GOOGL	+0.0264%	1h	356.57	−0.017%	$2.1M	$1.1M	20x	as long as short
edgeX GOOGLUSDC	+0.0808%	4h	356.50	−0.037%	$210K	$1.2M	10x	as long as short