Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.051%

Price spread now: BloFin against QFEX+0.011%7-day average +0.016% · 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−$27as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.195%+$20 on $10k

Price spread, last 4 days (all we have)+0.249%+$25 · spread now +0.011%, 7d avg +0.016%

Together, before fees+0.445%+$44 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOOGL-USD	357.27	0.0039	pay 0.0005% / 1h	40m 43s	$1.2M	$4.1M	10x
Short	BloFin GOOGL-USDT	357.31	0.0084	get 0.0084% / 8h	7h 40m	$686K	$233K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against QFEX. 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 QFEXbpFee BloFinbpOrdersPrice spread, now +0.011%Rate

Funding earned: $9.37
Price spread: +0.011% → +0.016%: −$0.52
Slippage, 4 orders: −$4.78
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$17.94
Costs to cover: 0.268%
Break-even: 20.4 days

Slippage from QFEX: live order book, 8 min ago; BloFin: live order book, 36 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 QFEX live order book, 8 min ago	1.40 bp	6.4 bp −$6	7.6 bp −$76	12.6 bp −$1,263	doesn't fit
Sell BloFin live order book, 36 min ago	0.14 bp	6.3 bp −$6	7.6 bp −$76	18.1 bp −$1,815	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	−0.0080%	1h	357.34	+0.020%	$518K	$1.1M	10x	as long as short
Hotstuff GOOGL-PERP	−0.0016%	1h	357.64	+0.104%	$33K	—	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	−0.0002%	1h	356.90	−0.104%	$24K	$153K	10x	as long as short
Aster GOOGLUSDT	0.0000%	8h	357.41	+0.039%	$366K	$422K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.36	+0.025%	$13.5M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.24	−0.008%	$3.6M	$7.1M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.47	+0.056%	$17.3M	$9.6M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.24	−0.010%	$4.8M	$2.4M	—	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.28	+0.003%	$1K	$3.9M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.39	+0.034%	$115K	$209K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDT	0.0000%	4h	357.54	+0.076%	$2.7M	$91K	10x	as long as short
Binance GOOGLUSDT	+0.0020%	8h	357.29	+0.007%	$72.1M	$141.4M	50x	as long as short
Extended GOOGL-USD	+0.0024%	1h	357.15	−0.035%	$424K	$2.5M	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0029%	1h	357.30	+0.009%	$144K	$43K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0031%	8h	357.73	+0.129%	$23K	$427K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.26	−0.003%	$1.3M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.042%	$128K	$45K	30x	as long as short
QFEX GOOGL-USDlong	+0.0039%	1h	357.27	long leg	$1.2M	$4.1M	10x
Arcus GOOGL-USD	+0.0040%	1h	357.12	−0.042%	$209K	$280K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.50	+0.064%	—	$5K	25x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.07	−0.056%	$685K	$415K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.18	−0.025%	$117	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.18	−0.025%	$2.3M	$4.2M	15x	as long as short
tradeXYZ xyz:GOOGL	+0.0052%	1h	357.03	−0.067%	$98.3M	$21.3M	20x	as long as short
KuCoin GOOGLUSDTM	+0.0053%	8h	357.16	−0.031%	$3.0M	$137K	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0058%	8h	357.27	0.000%	$293	$253	5x	as long as short
Nado GOOGL-PERP	+0.0068%	1h	357.16	−0.030%	$549K	$88K	20x	as long as short
BloFin GOOGL-USDTshort	+0.0084%	8h	357.31	+0.011%	$686K	$233K	20x
Phoenix GOOGL	+0.0090%	1h	357.65	+0.106%	$138K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.97	−0.084%	$42K	$25K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.55	+0.078%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.17	−0.028%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.16	−0.031%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0106%	8h	357.22	−0.014%	$11.5M	$7.7M	100x	as long as short
Lighter GOOGL	+0.0232%	1h	357.31	+0.011%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0770%	4h	357.83	+0.157%	$209K	$1.2M	10x	as long as short