Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h −0.015%

Price spread now: SunX against QFEX+0.020%7-day average +0.015% · 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−$111as in the Price arb table

costs, in and out, $10k−$1121.115% of the position

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now +0.020%, 7d avg +0.015%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, 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	356.94	0.0038	pay 0.0005% / 1h	9m 29s	$1.3M	$4.2M	10x
Short	SunX GOOGL-USDT	357.01	0	get 0.0000% / 8h	1h 09m	$1K	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$7.95
Price spread: +0.020% → +0.015%: $0.5
Slippage, 4 orders: −$93.51
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$118.95
Costs to cover: 1.115%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; SunX: live order book, 9 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, 4 min ago	1.54 bp	6.5 bp −$7	7.2 bp −$72	13.5 bp −$1,354	doesn't fit
Sell SunX live order book, 9 min ago	44.67 bp	49.2 bp −$49	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	356.60	−0.095%	$511K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.07	+0.036%	$13.6M	$13.1M	50x	as long as short
Hotstuff GOOGL-PERP	0.0000%	1h	356.87	−0.020%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.92	−0.006%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.05	+0.031%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	356.95	+0.003%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.98	+0.011%	$23K	$445K	10x	as long as short
SunX GOOGL-USDTshort	0.0000%	8h	357.01	+0.020%	$1K	$4.0M	20x
HTX GOOGL-USDT	0.0000%	8h	357.16	+0.062%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.11	+0.048%	$2.7M	$88K	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	356.87	−0.019%	$549K	$92K	20x	as long as short
Aster GOOGLUSDT	+0.0014%	8h	357.13	+0.054%	$365K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0019%	1h	356.93	−0.003%	$144K	$46K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.96	+0.006%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.050%	$128K	$45K	30x	as long as short
Binance GOOGLUSDT	+0.0036%	8h	357.05	+0.031%	$72.0M	$143.7M	50x	as long as short
QFEX GOOGL-USDlong	+0.0038%	1h	356.94	long leg	$1.3M	$4.2M	10x
Extended GOOGL-USD	+0.0040%	1h	356.93	−0.002%	$424K	$1.2M	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.77	−0.048%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.11	+0.048%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.85	−0.025%	$98.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.76	−0.050%	$684K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.85	−0.025%	$146	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.67	−0.076%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0052%	8h	356.99	+0.013%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0087%	8h	356.59	−0.098%	$3.0M	$100K	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.84	−0.028%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.82	−0.034%	$42K	$39K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.81	−0.036%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.82	−0.034%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.86	−0.023%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.02	+0.022%	$2.0M	$1.3M	20x	as long as short
Bybit GOOGLUSDT	+0.0132%	8h	357.05	+0.031%	$11.5M	$7.9M	100x	as long as short
BloFin GOOGL-USDT	+0.0147%	8h	357.03	+0.025%	$687K	$236K	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0170%	1h	356.96	+0.006%	$24K	$156K	10x	as long as short
edgeX GOOGLUSDC	+0.0971%	4h	356.92	−0.005%	$208K	$1.2M	10x	as long as short