Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.041%

Price spread now: Bybit against QFEX+0.081%7-day average +0.044% · 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−$24as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.067%+$7 on $10k

Price spread, last 7 days−0.090%−$9 · spread now +0.081%, 7d avg +0.044%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.037% dearer against QFEX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOOGL-USD	356.56	0.0039	pay 0.0005% / 1h	43m 13s	$1.3M	$4.5M	10x
Short	Bybit GOOGLUSDT	356.85	0.0094	get 0.0094% / 8h	6h 43m	$11.6M	$7.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.081%Rate

Funding earned: $11.57
Price spread: +0.081% → +0.044%: $3.71
Slippage, 4 orders: −$7.08
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$12.8
Costs to cover: 0.281%
Break-even: 14.7 days

Slippage from QFEX: live order book, 5 min ago; Bybit: 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 QFEX live order book, 5 min ago	1.82 bp	6.8 bp −$7	8.2 bp −$82	14.7 bp −$1,467	doesn't fit
Sell Bybit live order book, 5 min ago	0.28 bp	7.0 bp −$7	11.6 bp −$116	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
Hotstuff GOOGL-PERP	−0.0088%	1h	356.46	−0.028%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.00	−0.157%	$528K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.59	+0.008%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	356.66	+0.028%	$16.9M	$9.3M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.57	+0.003%	$23K	$438K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.67	+0.031%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.46	−0.028%	$23K	$153K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.82	+0.073%	$115K	$227K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.63	+0.020%	$2.7M	$67K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0009%	1h	356.27	−0.082%	$144K	$51K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado GOOGL-PERP	+0.0013%	1h	356.44	−0.033%	$556K	$80K	20x	as long as short
Variational Omni GOOGL	+0.0020%	8h	356.45	−0.031%	$4.8M	$2.3M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.70	+0.039%	$1.4M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.157%	$128K	$45K	30x	as long as short
QFEX GOOGL-USDlong	+0.0039%	1h	356.56	long leg	$1.3M	$4.5M	10x
Arcus GOOGL-USD	+0.0040%	1h	356.34	−0.062%	$202K	$272K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.63	+0.020%	—	$5K	25x	as long as short
Lighter GOOGL	+0.0048%	1h	356.62	+0.017%	$2.1M	$1.1M	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.55	−0.003%	$98.4M	$22.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.40	−0.045%	$683K	$433K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.54	−0.006%	$160	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.32	−0.067%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0064%	8h	356.58	+0.007%	$292	$253	5x	as long as short
Aster GOOGLUSDT	+0.0074%	8h	356.59	+0.009%	$364K	$458K	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.47	−0.025%	$137K	$36K	20x	as long as short
Bybit GOOGLUSDTshort	+0.0094%	8h	356.85	+0.081%	$11.6M	$7.5M	100x
Extended GOOGL-USD	+0.0096%	1h	356.60	+0.011%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0096%	8h	356.71	+0.042%	$72.7M	$141.5M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.36	−0.056%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.24	−0.090%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.25	−0.087%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.50	−0.017%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.53	−0.010%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0181%	8h	356.82	+0.073%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0215%	8h	356.47	−0.025%	$651K	$234K	20x	as long as short
edgeX GOOGLUSDC	+0.0635%	4h	356.43	−0.036%	$209K	$1.2M	10x	as long as short