Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0162%/8h= +17.8% APRpaid last 24h +0.074%

Price spread now: BloFin against QFEX+0.025%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−$24as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.188%+$19 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now +0.025%, 7d avg +0.016%

Together, before fees+0.294%+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOOGL-USD	357.66	0.0050	pay 0.0006% / 1h	10m 01s	$1.3M	$4.2M	10x
Short	BloFin GOOGL-USDT	357.75	0.0212	get 0.0212% / 8h	4h 10m	$694K	$234K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against QFEX. 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 QFEXbpFee BloFinbpOrdersPrice spread, now +0.025%Rate

Funding earned: $34.09
Price spread: +0.025% → +0.016%: $0.91
Slippage, 4 orders: −$2.97
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $10.02
Costs to cover: 0.250%
Break-even: 4.9 days

Slippage from QFEX: live order book, 3 min ago; BloFin: live order book, 27 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 QFEX live order book, 3 min ago	1.12 bp	6.1 bp −$6	6.1 bp −$61	12.1 bp −$1,208	doesn't fit
Sell BloFin live order book, 27 min ago	0.14 bp	6.4 bp −$6	7.8 bp −$78	16.1 bp −$1,607	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	357.54	−0.034%	$526K	$1.1M	10x	as long as short
Hotstuff GOOGL-PERP	−0.0008%	1h	357.48	−0.050%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.63	−0.008%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.77	+0.031%	$17.4M	$9.6M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.76	+0.028%	$23K	$432K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.75	+0.025%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.89	+0.064%	$115K	$220K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.83	+0.048%	$2.7M	$86K	10x	as long as short
Variational Omni GOOGL	+0.0009%	8h	357.68	+0.005%	$4.8M	$2.3M	—	as long as short
Aftermath Perps GOOGLUSD	+0.0021%	1h	357.63	−0.009%	$144K	$48K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit GOOGL_USDC-PERPETUAL	+0.0030%	1h	357.52	−0.039%	$24K	$155K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.77	+0.031%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.151%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.44	−0.062%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.68	+0.006%	—	$5K	25x	as long as short
QFEX GOOGL-USDlong	+0.0050%	1h	357.66	long leg	$1.3M	$4.2M	10x
Polymarket Perps GOOG-USD	+0.0050%	1h	357.49	−0.048%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.53	−0.036%	$146	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.34	−0.089%	$2.3M	$4.9M	15x	as long as short
tradeXYZ xyz:GOOGL	+0.0051%	1h	357.55	−0.031%	$99.1M	$20.5M	20x	as long as short
Aster GOOGLUSDT	+0.0073%	8h	357.92	+0.072%	$366K	$426K	20x	as long as short
Nado GOOGL-PERP	+0.0080%	1h	357.46	−0.056%	$558K	$81K	20x	as long as short
Binance GOOGLUSDT	+0.0093%	8h	357.77	+0.031%	$73.0M	$141.2M	50x	as long as short
Extended GOOGL-USD	+0.0096%	1h	357.67	+0.003%	$423K	$1.8M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.43	−0.063%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.32	−0.095%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.48	−0.050%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.64	−0.006%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.63	−0.009%	$25K	—	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0108%	8h	357.66	+0.001%	$293	$253	5x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.60	−0.017%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0113%	8h	357.74	+0.022%	$13.8M	$12.4M	50x	as long as short
BloFin GOOGL-USDTshort	+0.0212%	8h	357.75	+0.025%	$694K	$234K	20x
Bybit GOOGLUSDT	+0.0219%	8h	357.81	+0.042%	$12.0M	$7.5M	100x	as long as short
Lighter GOOGL	+0.0280%	1h	357.77	+0.031%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0650%	4h	357.72	+0.016%	$209K	$1.2M	10x	as long as short