Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: KuCoin against QFEX−0.098%7-day average −0.029% · 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−$292as in the Price arb table

costs, in and out, $10k−$2852.854% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 7 days+0.025%+$2 · spread now −0.098%, 7d avg −0.029%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.068% cheaper against QFEX than usual: you would sell low and buy high (spread −0.098% now, against its 7-day average of −0.029%). If the spread goes back, that is −$7 on $10k: about 4.5 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.002% in total) that is about 5 months.

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	33m 22s	$1.3M	$4.2M	10x
Short	KuCoin GOOGLUSDTM	357.31	0.0100	get 0.0100% / 8h	4h 33m	$3.0M	$91K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.098%Rate

Funding earned: $10.58
Price spread: −0.098% → −0.029%: −$6.85
Slippage, 4 orders: −$263.4
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$281.67
Costs to cover: 2.854%
Break-even: 193.3 days

Slippage from QFEX: 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 QFEX live order book, 5 min ago	1.12 bp	6.1 bp −$6	6.2 bp −$62	12.1 bp −$1,206	doesn't fit
Sell KuCoin live order book, 4 min ago	4.34 bp	116.1 bp −$116	doesn't fit	doesn't fit	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
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%	$17.5M	$9.6M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.72	+0.017%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.79	+0.036%	$23K	$435K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.75	+0.025%	$2K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.49	−0.048%	$24K	$155K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.87	+0.059%	$115K	$221K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.83	+0.048%	$2.7M	$86K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0014%	1h	357.62	−0.011%	$144K	$49K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
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	357.72	+0.017%	—	$5K	25x	as long as short
QFEX GOOGL-USDlong	+0.0050%	1h	357.66	long leg	$1.3M	$4.2M	10x
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.51	−0.042%	$99.0M	$20.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.48	−0.050%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.51	−0.042%	$151	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.40	−0.073%	$2.3M	$4.9M	15x	as long as short
Aster GOOGLUSDT	+0.0059%	8h	357.86	+0.057%	$366K	$457K	20x	as long as short
Binance GOOGLUSDT	+0.0079%	8h	357.75	+0.025%	$73.1M	$141.3M	50x	as long as short
Extended GOOGL-USD	+0.0080%	1h	357.65	−0.003%	$426K	$1.8M	20x	as long as short
Nado GOOGL-PERP	+0.0090%	1h	357.48	−0.051%	$558K	$80K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.47	−0.053%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTMshort	+0.0100%	8h	357.31	−0.098%	$3.0M	$91K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.47	−0.053%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.47	−0.053%	$10K	$10K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0104%	1h	357.51	−0.042%	$33K	—	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.60	−0.015%	$25K	—	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0105%	8h	357.65	−0.003%	$293	$253	5x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.51	−0.042%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0113%	8h	357.69	+0.008%	$13.8M	$12.4M	50x	as long as short
edgeX GOOGLUSDC	+0.0179%	4h	357.72	+0.017%	$209K	$1.2M	10x	as long as short
Bybit GOOGLUSDT	+0.0188%	8h	357.83	+0.048%	$12.0M	$7.6M	100x	as long as short
BloFin GOOGL-USDT	+0.0197%	8h	357.74	+0.022%	$695K	$234K	20x	as long as short
Lighter GOOGL	+0.0288%	1h	357.76	+0.028%	$2.0M	$1.3M	20x	as long as short