Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.014%

Price spread now: QFEX against HTX−0.089%7-day average −0.046% · 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−$35as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.035%−$4 · spread now −0.089%, 7d avg −0.046%

Together, before fees−0.007%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.044% cheaper against HTX than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of −0.046%). If the spread goes back, that is −$4 on $10k: about 2.2 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.028% in total) that is about 6.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX GOOGL-USDT	357.72	0	get 0.0000% / 8h	4h 57m	$115K	$212K	30x
Short	QFEX GOOGL-USD	357.40	0.0066	get 0.0008% / 1h	57m 05s	$1.2M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now −0.089%Rate

Funding earned: $13.78
Price spread: −0.089% → −0.046%: −$4.36
Slippage, 4 orders: −$8.94
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$21.53
Costs to cover: 0.309%
Break-even: 17.9 days

Slippage from HTX: live order book, 47 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 HTX live order book, 47 min ago	2.79 bp	8.8 bp −$9	10.0 bp −$100	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.68 bp	6.7 bp −$7	8.2 bp −$82	12.4 bp −$1,242	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	−0.0088%	1h	357.32	−0.112%	$33K	—	20x	as long as short
Nado GOOGL-PERP	−0.0020%	1h	357.37	−0.099%	$552K	$83K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0016%	1h	357.33	−0.109%	$530K	$1.2M	10x	as long as short
Bybit GOOGLUSDT	0.0000%	8h	357.56	−0.045%	$11.6M	$7.8M	100x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.55	−0.048%	$13.4M	$13.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.50	−0.062%	$3.7M	$6.2M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.62	−0.028%	$17.4M	$9.9M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.72	0.000%	$5.0M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.77	+0.014%	$12K	$467K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.54	−0.050%	$1K	$3.7M	20x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.33	−0.109%	$29K	$151K	10x	as long as short
HTX GOOGL-USDTlong	0.0000%	8h	357.72	long leg	$115K	$212K	30x
Phemex GOOGLUSDT	0.0000%	4h	357.71	−0.003%	$2.7M	$116K	10x	as long as short
Aster GOOGLUSDT	+0.0032%	8h	357.56	−0.045%	$367K	$420K	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.63	−0.025%	$1.4M	$1.9M	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0032%	1h	357.53	−0.053%	$144K	$42K	10x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.168%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.62	−0.028%	—	$5K	25x	as long as short
Extended GOOGL-USD	+0.0048%	1h	357.47	−0.069%	$426K	$2.8M	20x	as long as short
Binance GOOGLUSDT	+0.0049%	8h	357.60	−0.035%	$73.0M	$146.0M	50x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.35	−0.103%	$98.0M	$21.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.45	−0.075%	$684K	$440K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.36	−0.101%	$104	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.33	−0.109%	$2.3M	$3.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0059%	8h	357.47	−0.069%	$293	$253	5x	as long as short
QFEX GOOGL-USDshort	+0.0066%	1h	357.40	−0.089%	$1.2M	$4.1M	10x
Pacifica GOOGL	+0.0100%	1h	357.26	−0.129%	$42K	$20K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.28	−0.123%	$3.0M	$313K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.56	−0.045%	$36K	$17K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.41	−0.087%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.38	−0.094%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.62	−0.028%	$138K	$36K	20x	as long as short
Lighter GOOGL	+0.0168%	1h	357.54	−0.050%	$2.0M	$2.1M	20x	as long as short
BloFin GOOGL-USDT	+0.0169%	8h	357.61	−0.031%	$694K	$231K	20x	as long as short
edgeX GOOGLUSDC	+0.0226%	4h	357.67	−0.013%	$208K	$1.2M	10x	as long as short
Arcus GOOGL-USD	+0.0303%	1h	357.34	−0.106%	$212K	$222K	10x	as long as short