Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.038%

Price spread now: QFEX against Binance−0.025%7-day average −0.014% · 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−$25as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.056%−$6 on $10k

Price spread, last 2 days (all we have)+0.025%+$2 · spread now −0.025%, 7d avg −0.014%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, 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	Binance GOOGLUSDT	357.71	0.0056	pay 0.0056% / 8h	5h 47m	$72.9M	$141.5M	50x
Short	QFEX GOOGL-USD	357.62	0.0028	get 0.0003% / 1h	47m 52s	$1.3M	$4.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$5.92
Price spread: −0.025% → −0.014%: −$1.08
Slippage, 4 orders: −$4.24
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$31.24
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; QFEX: 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 Binance live order book, 10 min ago	0.14 bp	5.4 bp −$5	7.7 bp −$77	19.3 bp −$1,926	doesn't fit
Sell QFEX live order book, 5 min ago	1.82 bp	6.8 bp −$7	7.9 bp −$79	13.7 bp −$1,366	doesn't fit

GOOGL on 35 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
Deribit GOOGL_USDC-PERPETUAL	−0.0365%	1h	357.32	−0.109%	$23K	$154K	10x	as long as short
Nado GOOGL-PERP	−0.0067%	1h	357.59	−0.032%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.29	−0.117%	$523K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.63	−0.022%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.62	−0.026%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.65	−0.018%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.75	+0.011%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.88	+0.048%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.76	+0.014%	$2.7M	$75K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.41	−0.084%	$144K	$50K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit GOOGLUSDT	+0.0024%	8h	357.81	+0.028%	$11.8M	$7.5M	100x	as long as short
QFEX GOOGL-USDshort	+0.0028%	1h	357.62	−0.025%	$1.3M	$4.4M	10x
Lighter RH GOOGL	+0.0032%	1h	357.76	+0.014%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.165%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0036%	8h	357.64	−0.018%	$366K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.43	−0.078%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.84	+0.036%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.54	−0.048%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.40	−0.087%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.54	−0.048%	$147	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.32	−0.109%	$2.3M	$4.8M	15x	as long as short
Bitget GOOGLUSDT	+0.0053%	8h	357.71	0.000%	$17.0M	$9.3M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.72	+0.004%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.65	−0.017%	$421K	$1.8M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	357.54	−0.048%	$33K	—	20x	as long as short
Binance GOOGLUSDTlong	+0.0056%	8h	357.71	long leg	$72.9M	$141.5M	50x
Lighter GOOGL	+0.0096%	1h	357.78	+0.020%	$2.1M	$1.2M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.47	−0.066%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.30	−0.115%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.46	−0.070%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.59	−0.034%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.57	−0.040%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.54	−0.048%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0135%	8h	357.71	0.000%	$13.8M	$12.4M	50x	as long as short
edgeX GOOGLUSDC	+0.0644%	4h	357.54	−0.047%	$209K	$1.2M	10x	as long as short