Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h +0.015%

Price spread now: KuCoin against QFEX−0.090%7-day average −0.029% · 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−$199as in the Price arb table

costs, in and out, $10k−$1931.926% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.002%$0 on $10k

Price spread, last 7 days+0.006%+$1 · spread now −0.090%, 7d avg −0.029%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.060% cheaper against QFEX than usual: you would sell low and buy high (spread −0.090% now, against its 7-day average of −0.029%). If the spread goes back, that is −$6 on $10k: about 3.3 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.002% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOOGL-USD	356.66	0.0039	pay 0.0005% / 1h	37m 59s	$1.3M	$4.5M	10x
Short	KuCoin GOOGLUSDTM	356.34	0.0100	get 0.0100% / 8h	6h 37m	$3.0M	$65K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.090%Rate

Funding earned: $12.85
Price spread: −0.090% → −0.029%: −$6.04
Slippage, 4 orders: −$170.62
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$185.81
Costs to cover: 1.926%
Break-even: 108.2 days

Slippage from QFEX: live order book, 5 min ago; KuCoin: live order book, 4 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	1.54 bp	6.5 bp −$7	8.3 bp −$83	14.8 bp −$1,478	doesn't fit
Sell KuCoin live order book, 4 min ago	5.33 bp	104.3 bp −$104	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	356.40	−0.073%	$529K	$1.1M	10x	as long as short
Hotstuff GOOGL-PERP	0.0000%	1h	356.64	−0.006%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.70	+0.011%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	356.75	+0.025%	$16.9M	$9.3M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.71	+0.015%	$24K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.71	+0.014%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.51	−0.042%	$23K	$153K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.84	+0.050%	$114K	$227K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.72	+0.017%	$2.7M	$67K	10x	as long as short
Nado GOOGL-PERP	+0.0004%	1h	356.61	−0.013%	$556K	$80K	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0008%	1h	356.38	−0.079%	$144K	$51K	10x	as long as short
Variational Omni GOOGL	+0.0022%	8h	356.66	0.000%	$4.7M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.76	+0.028%	$1.4M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.129%	$128K	$45K	30x	as long as short
QFEX GOOGL-USDlong	+0.0039%	1h	356.66	long leg	$1.3M	$4.5M	10x
Arcus GOOGL-USD	+0.0040%	1h	356.46	−0.056%	$202K	$272K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.82	+0.045%	—	$5K	25x	as long as short
Lighter GOOGL	+0.0048%	1h	356.74	+0.022%	$2.1M	$1.2M	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.66	0.000%	$98.6M	$22.2M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.47	−0.053%	$683K	$433K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.65	−0.003%	$160	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.40	−0.073%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0063%	8h	356.71	+0.013%	$292	$253	5x	as long as short
Aster GOOGLUSDT	+0.0073%	8h	356.66	+0.001%	$365K	$458K	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.70	+0.011%	$137K	$36K	20x	as long as short
Binance GOOGLUSDT	+0.0095%	8h	356.75	+0.025%	$72.7M	$141.5M	50x	as long as short
Extended GOOGL-USD	+0.0096%	1h	356.66	+0.001%	$421K	$1.8M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.53	−0.037%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTMshort	+0.0100%	8h	356.34	−0.090%	$3.0M	$65K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.36	−0.084%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.63	−0.008%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.60	−0.017%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0116%	8h	356.93	+0.076%	$11.6M	$7.6M	100x	as long as short
OKX GOOGL-USDT-SWAP	+0.0182%	8h	356.77	+0.031%	$13.8M	$12.8M	50x	as long as short
BloFin GOOGL-USDT	+0.0215%	8h	356.47	−0.053%	$651K	$234K	20x	as long as short
edgeX GOOGLUSDC	+0.0814%	4h	356.62	−0.010%	$209K	$1.2M	10x	as long as short