Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h −0.051%

Price spread now: QFEX against BloFin+0.022%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−$23as in the Price arb table

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

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.195%−$19 on $10k

Price spread, last 4 days (all we have)−0.154%−$15 · spread now +0.022%, 7d avg −0.016%

Together, before fees−0.349%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.039% dearer against BloFin than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of −0.016%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin GOOGL-USDT	359.24	0.0205	pay 0.0205% / 8h	5h 59m	$692K	$242K	20x
Short	QFEX GOOGL-USD	359.32	0.0048	get 0.0006% / 1h	59m 18s	$1.3M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. 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 BloFinbpFee QFEXbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$32.91
Price spread: +0.022% → −0.016%: $3.86
Slippage, 4 orders: −$4.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$55.86
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from BloFin: live order book, 50 min ago; QFEX: live order book, 7 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 BloFin live order book, 50 min ago	0.56 bp	6.6 bp −$7	7.5 bp −$75	14.1 bp −$1,409	doesn't fit
Sell QFEX live order book, 7 min ago	1.81 bp	6.8 bp −$7	7.0 bp −$70	10.6 bp −$1,058	doesn't fit

GOOGL on 36 exchanges

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	−0.1600%	1h	357.90	−0.373%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0040%	1h	358.77	−0.131%	$514K	$1.1M	10x	as long as short
Bybit GOOGLUSDT	0.0000%	8h	359.33	+0.025%	$11.5M	$7.5M	100x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	359.39	+0.042%	$13.5M	$13.5M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	359.19	−0.014%	$3.7M	$6.7M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	359.25	+0.003%	$17.5M	$9.4M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	359.42	+0.050%	$1K	$3.7M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	359.46	+0.061%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	359.45	+0.058%	$2.7M	$113K	10x	as long as short
Variational Omni GOOGL	+0.0011%	8h	359.14	−0.028%	$5.0M	$2.3M	—	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0027%	1h	359.05	−0.053%	$145K	$42K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	359.33	+0.025%	$1.3M	$1.7M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.590%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	359.41	+0.047%	—	$5K	25x	as long as short
Nado GOOGL-PERP	+0.0047%	1h	359.18	−0.015%	$554K	$81K	20x	as long as short
QFEX GOOGL-USDshort	+0.0048%	1h	359.32	+0.022%	$1.3M	$4.1M	10x
tradeXYZ xyz:GOOGL	+0.0050%	1h	359.07	−0.047%	$98.3M	$21.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	359.18	−0.017%	$688K	$413K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	359.12	−0.033%	$115	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	359.12	−0.033%	$2.3M	$3.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0061%	8h	359.29	+0.014%	$295	$253	5x	as long as short
Aster GOOGLUSDT	+0.0064%	8h	359.06	−0.051%	$369K	$420K	20x	as long as short
Arcus GOOGL-USD	+0.0081%	1h	359.16	−0.022%	$211K	$279K	10x	as long as short
Binance GOOGLUSDT	+0.0085%	8h	359.34	+0.028%	$73.4M	$142.9M	50x	as long as short
Extended GOOGL-USD	+0.0088%	1h	359.25	+0.003%	$426K	$2.4M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	359.07	−0.046%	$42K	$20K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	358.97	−0.075%	$3.0M	$239K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	359.02	−0.061%	$28K	$13K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	359.20	−0.011%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	358.96	−0.078%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	359.15	−0.025%	$138K	$36K	20x	as long as short
Lighter GOOGL	+0.0136%	1h	359.24	0.000%	$2.0M	$2.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0168%	1h	359.21	−0.008%	$25K	$148K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0170%	8h	359.08	−0.044%	$23K	$448K	10x	as long as short
BloFin GOOGL-USDTlong	+0.0205%	8h	359.24	long leg	$692K	$242K	20x
edgeX GOOGLUSDC	+0.0388%	4h	359.09	−0.041%	$210K	$1.2M	10x	as long as short