Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.014%

Price spread now: QFEX against Phemex−0.039%7-day average −0.032% · 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−$81as in the Price arb table

costs, in and out, $10k−$800.804% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now −0.039%, 7d avg −0.032%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	357.44	0	get 0.0000% / 4h	7m 27s	$2.7M	$116K	10x
Short	QFEX GOOGL-USD	357.30	0.0066	get 0.0008% / 1h	7m 27s	$1.3M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $13.78
Price spread: −0.039% → −0.032%: −$0.7
Slippage, 4 orders: −$58.43
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$67.36
Costs to cover: 0.804%
Break-even: 41.2 days

Slippage from Phemex: live order book, 4 min ago; QFEX: 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, 4 min ago	2.10 bp	33.3 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.68 bp	6.7 bp −$7	6.7 bp −$67	10.8 bp −$1,078	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
Coinbase International GOOGL-PERP-INTX	−0.0016%	1h	356.94	−0.140%	$531K	$1.2M	10x	as long as short
Bybit GOOGLUSDT	0.0000%	8h	357.38	−0.017%	$11.7M	$7.6M	100x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.40	−0.011%	$13.4M	$13.3M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.30	−0.039%	$3.7M	$6.3M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.29	−0.043%	$5.0M	$2.3M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.36	−0.023%	$12K	$451K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.43	−0.003%	$2K	$3.4M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.58	+0.039%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	357.44	long leg	$2.7M	$116K	10x
Lighter RH GOOGL	+0.0032%	1h	357.39	−0.014%	$1.4M	$1.9M	20x	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	+0.0033%	1h	357.31	−0.037%	$144K	$40K	10x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.090%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0034%	8h	357.55	+0.032%	$369K	$41K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.38	−0.017%	—	$5K	25x	as long as short
Bitget GOOGLUSDT	+0.0047%	8h	357.38	−0.017%	$18.1M	$9.5M	100x	as long as short
Extended GOOGL-USD	+0.0048%	1h	357.29	−0.043%	$423K	$2.9M	20x	as long as short
Binance GOOGLUSDT	+0.0050%	8h	357.41	−0.009%	$73.0M	$141.4M	50x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.20	−0.067%	$98.0M	$20.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.24	−0.056%	$719K	$508K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.22	−0.062%	$92	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.88	−0.157%	$2.3M	$3.6M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0059%	8h	357.24	−0.057%	$293	—	5x	as long as short
QFEX GOOGL-USDshort	+0.0066%	1h	357.30	−0.039%	$1.3M	$4.0M	10x
Nado GOOGL-PERP	+0.0085%	1h	357.15	−0.082%	$549K	$85K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.03	−0.114%	$42K	$17K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.96	−0.134%	$3.0M	$366K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.15	−0.081%	$36K	$17K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.30	−0.039%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.28	−0.044%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0120%	1h	357.34	−0.028%	$2.0M	$2.2M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0136%	1h	357.09	−0.098%	$33K	—	20x	as long as short
BloFin GOOGL-USDT	+0.0168%	8h	357.49	+0.014%	$689K	$226K	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0170%	1h	357.26	−0.050%	$29K	$143K	10x	as long as short
Phoenix GOOGL	+0.0179%	1h	357.34	−0.028%	$137K	$60K	20x	as long as short
edgeX GOOGLUSDC	+0.0186%	4h	357.38	−0.018%	$207K	$1.2M	10x	as long as short
Arcus GOOGL-USD	+0.0303%	1h	357.20	−0.067%	$212K	$204K	10x	as long as short