Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.015%

Price spread now: QFEX against SunX−0.025%7-day average −0.014% · 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−$113as in the Price arb table

costs, in and out, $10k−$1121.124% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.201%−$20 · spread now −0.025%, 7d avg −0.014%

Together, before fees−0.177%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX GOOGL-USDT	357.71	0	get 0.0000% / 8h	5h 46m	$1K	$4.1M	20x
Short	QFEX GOOGL-USD	357.62	0.0028	get 0.0003% / 1h	46m 29s	$1.3M	$4.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now −0.025%Rate

Funding earned: $5.86
Price spread: −0.025% → −0.014%: −$1.07
Slippage, 4 orders: −$94.36
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$107.57
Costs to cover: 1.124%
Break-even: 135.4 days

Slippage from SunX: live order book, 12 min ago; QFEX: live order book, 7 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 SunX live order book, 12 min ago	44.89 bp	49.4 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	1.82 bp	6.8 bp −$7	7.9 bp −$79	13.7 bp −$1,366	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
Deribit GOOGL_USDC-PERPETUAL	−0.0617%	1h	357.24	−0.131%	$23K	$154K	10x	as long as short
Nado GOOGL-PERP	−0.0065%	1h	357.59	−0.033%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.29	−0.117%	$523K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.64	−0.020%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.62	−0.026%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.65	−0.018%	$23K	$437K	10x	as long as short
SunX GOOGL-USDTlong	0.0000%	8h	357.71	long leg	$1K	$4.1M	20x
HTX GOOGL-USDT	0.0000%	8h	357.88	+0.048%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.75	+0.011%	$2.7M	$75K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.44	−0.075%	$144K	$50K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit GOOGLUSDT	+0.0020%	8h	357.81	+0.028%	$11.8M	$7.5M	100x	as long as short
QFEX GOOGL-USDshort	+0.0028%	1h	357.62	−0.025%	$1.3M	$4.4M	10x
Lighter RH GOOGL	+0.0032%	1h	357.75	+0.011%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.165%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0034%	8h	357.65	−0.018%	$366K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.43	−0.078%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.85	+0.039%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.54	−0.048%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.40	−0.087%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.54	−0.048%	$144	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.39	−0.089%	$2.2M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.70	−0.002%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0054%	8h	357.73	+0.006%	$72.9M	$141.5M	50x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.65	−0.016%	$421K	$1.8M	20x	as long as short
Bitget GOOGLUSDT	+0.0058%	8h	357.74	+0.008%	$17.0M	$9.3M	100x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	357.54	−0.048%	$33K	—	20x	as long as short
Lighter GOOGL	+0.0088%	1h	357.78	+0.020%	$2.1M	$1.2M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.50	−0.059%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.36	−0.098%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.57	−0.039%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.61	−0.028%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.58	−0.037%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.54	−0.048%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0132%	8h	357.71	0.000%	$13.8M	$12.4M	50x	as long as short
BloFin GOOGL-USDT	+0.0175%	8h	357.69	−0.006%	—	$234K	20x	as long as short
edgeX GOOGLUSDC	+0.0789%	4h	357.68	−0.009%	$209K	$1.2M	10x	as long as short