Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: KuCoin against Phemex−0.146%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$252as in the Price arb table

costs, in and out, $10k−$2472.474% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.146%, 7d avg −0.097%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.049% cheaper against Phemex than usual: you would sell low and buy high (spread −0.146% now, against its 7-day average of −0.097%). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.079% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	357.28	0	get 0.0000% / 4h	2h 13m	$2.7M	$73K	10x
Short	KuCoin GOOGLUSDTM	356.76	0.0100	get 0.0100% / 8h	6h 13m	$3.0M	$65K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now −0.146%Rate

Funding earned: $21
Price spread: −0.146% → −0.097%: −$4.9
Slippage, 4 orders: −$223.36
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$231.26
Costs to cover: 2.474%
Break-even: 84.1 days

Slippage from Phemex: live order book, 5 min ago; KuCoin: live order book, 4 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 Phemex live order book, 5 min ago	2.66 bp	25.1 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	6.45 bp	135.6 bp −$136	doesn't fit	doesn't fit	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
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.86	−0.118%	$523K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0022%	1h	357.04	−0.067%	$557K	$81K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.15	−0.036%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.15	−0.037%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.22	−0.017%	$23K	$436K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.23	−0.014%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.02	−0.073%	$23K	$154K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.25	−0.008%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	357.28	long leg	$2.7M	$73K	10x
Aftermath Perps GOOGLUSD	+0.0006%	1h	356.94	−0.094%	$144K	$51K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GOOGLUSDT	+0.0013%	8h	357.23	−0.014%	$17.0M	$9.3M	100x	as long as short
Hotstuff GOOGL-PERP	+0.0024%	1h	357.08	−0.056%	$33K	—	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.21	−0.020%	$1.3M	$2.4M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.045%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	357.13	−0.042%	$1.3M	$4.4M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.98	−0.084%	$202K	$272K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.26	−0.006%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.08	−0.056%	$98.9M	$22.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.91	−0.104%	$684K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.10	−0.050%	$152	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.86	−0.118%	$2.3M	$4.9M	15x	as long as short
Aster GOOGLUSDT	+0.0053%	8h	357.06	−0.063%	$365K	$458K	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0057%	8h	357.17	−0.031%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0072%	1h	357.15	−0.036%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0074%	8h	357.21	−0.019%	$72.8M	$141.5M	50x	as long as short
Lighter GOOGL	+0.0080%	1h	357.20	−0.022%	$2.1M	$1.2M	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	357.12	−0.045%	$137K	$36K	20x	as long as short
Bybit GOOGLUSDT	+0.0091%	8h	357.30	+0.006%	$11.6M	$7.5M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.96	−0.089%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTMshort	+0.0100%	8h	356.76	−0.146%	$3.0M	$65K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.06	−0.062%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.07	−0.059%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.05	−0.063%	$25K	—	10x	as long as short
edgeX GOOGLUSDC	+0.0160%	4h	357.19	−0.025%	$208K	$1.2M	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0163%	8h	357.19	−0.025%	$13.8M	$12.7M	50x	as long as short