Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h −0.051%

Price spread now: QFEX against OKX−0.014%7-day average −0.041% · 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−$24as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.071%−$7 on $10k

Price spread, last 7 days−0.006%−$1 · spread now −0.014%, 7d avg −0.041%

Together, before fees−0.077%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.027% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.041%. Mind the row above: over the last 4 days funding on this pair cost −0.071%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX GOOGL-USDT-SWAP	357.41	0	get 0.0000% / 8h	33m 04s	$13.6M	$12.8M	50x
Short	QFEX GOOGL-USD	357.36	0.0035	get 0.0004% / 1h	33m 04s	$1.3M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. 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 OKXbpFee QFEXbpOrdersPrice spread, now −0.014%Rate

Funding earned: $7.36
Price spread: −0.014% → −0.041%: $2.68
Slippage, 4 orders: −$6.58
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$16.54
Costs to cover: 0.266%
Break-even: 22.7 days

Slippage from OKX: live order book, 5 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 OKX live order book, 5 min ago	0.14 bp	5.8 bp −$6	10.0 bp −$100	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.82 bp	6.8 bp −$7	7.7 bp −$77	13.4 bp −$1,343	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	−0.0048%	1h	357.09	−0.090%	$512K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAPlong	0.0000%	8h	357.41	long leg	$13.6M	$12.8M	50x
Gate GOOGL_USDT	0.0000%	8h	357.34	−0.020%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.54	+0.036%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.35	−0.018%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.40	−0.003%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.46	+0.014%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.26	−0.042%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.58	+0.048%	$115K	$210K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.50	+0.025%	$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	+0.0007%	1h	357.35	−0.017%	$550K	$91K	20x	as long as short
Aster GOOGLUSDT	+0.0013%	8h	357.50	+0.025%	$366K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0024%	1h	357.25	−0.045%	$144K	$45K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.37	−0.011%	$1.4M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.37	−0.013%	$427K	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.081%	$128K	$45K	30x	as long as short
QFEX GOOGL-USDshort	+0.0035%	1h	357.36	−0.014%	$1.3M	$4.1M	10x
Binance GOOGLUSDT	+0.0036%	8h	357.46	+0.014%	$72.1M	$143.4M	50x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.18	−0.064%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.55	+0.039%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.26	−0.042%	$98.2M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.22	−0.053%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.27	−0.039%	$139	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.03	−0.106%	$2.3M	$4.7M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.42	+0.003%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0062%	8h	357.01	−0.112%	$3.0M	$101K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.23	−0.050%	$42K	$35K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.25	−0.045%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.31	−0.028%	$10K	$11K	20x	as long as short
Bybit GOOGLUSDT	+0.0102%	8h	357.47	+0.017%	$11.5M	$7.9M	100x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.33	−0.022%	$25K	—	10x	as long as short
Hotstuff GOOGL-PERP	+0.0112%	1h	357.27	−0.039%	$33K	—	20x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.08	−0.092%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0142%	8h	357.46	+0.014%	$688K	$236K	20x	as long as short
Lighter GOOGL	+0.0144%	1h	357.43	+0.006%	$2.0M	$1.4M	20x	as long as short
edgeX GOOGLUSDC	+0.0627%	4h	357.28	−0.036%	$208K	$1.2M	10x	as long as short