Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h −0.018%

Price spread now: QFEX against Bybit−0.017%7-day average −0.046% · 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−$26as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.069%−$7 on $10k

Price spread, last 7 days−0.012%−$1 · spread now −0.017%, 7d avg −0.046%

Together, before fees−0.081%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.029% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.046%. Mind the row above: over the last 4 days funding on this pair cost −0.069%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GOOGLUSDT	358.86	0.0007	pay 0.0007% / 8h	6h 16m	$11.5M	$7.5M	100x
Short	QFEX GOOGL-USD	358.80	0.0048	get 0.0006% / 1h	16m 17s	$1.3M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.017%Rate

Funding earned: $8.78
Price spread: −0.017% → −0.046%: $2.9
Slippage, 4 orders: −$7.88
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$17.2
Costs to cover: 0.289%
Break-even: 20.7 days

Slippage from Bybit: live order book, 5 min ago; QFEX: live order book, 5 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 Bybit live order book, 5 min ago	0.28 bp	7.5 bp −$8	11.2 bp −$112	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.39 bp	6.4 bp −$6	6.4 bp −$64	10.5 bp −$1,052	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	−0.0056%	1h	358.00	−0.240%	$516K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	358.95	+0.025%	$13.5M	$13.5M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	358.73	−0.036%	$3.7M	$6.8M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	358.97	+0.031%	$17.5M	$9.4M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	358.85	−0.002%	$5.0M	$2.4M	—	as long as short
SunX GOOGL-USDT	0.0000%	8h	358.91	+0.014%	$2K	$3.7M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	359.07	+0.059%	$115K	$210K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	359.01	+0.042%	$2.7M	$106K	10x	as long as short
Bybit GOOGLUSDTlong	+0.0007%	8h	358.86	long leg	$11.5M	$7.5M	100x
Aftermath Perps GOOGLUSD	+0.0030%	1h	358.68	−0.051%	$145K	$43K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH GOOGL	+0.0032%	1h	358.85	−0.003%	$1.3M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.485%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	358.93	+0.020%	—	$5K	25x	as long as short
QFEX GOOGL-USDshort	+0.0048%	1h	358.80	−0.017%	$1.3M	$4.1M	10x
Aster GOOGLUSDT	+0.0049%	8h	358.55	−0.086%	$368K	$420K	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	358.65	−0.059%	$98.3M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	358.74	−0.033%	$687K	$413K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	358.67	−0.053%	$110	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	358.47	−0.109%	$2.3M	$3.9M	15x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0057%	1h	358.69	−0.047%	$25K	$148K	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0062%	8h	358.78	−0.021%	$294	$253	5x	as long as short
Extended GOOGL-USD	+0.0064%	1h	358.84	−0.007%	$424K	$2.4M	20x	as long as short
Binance GOOGLUSDT	+0.0068%	8h	358.94	+0.022%	$73.3M	$141.4M	50x	as long as short
Nado GOOGL-PERP	+0.0079%	1h	358.65	−0.060%	$552K	$81K	20x	as long as short
Arcus GOOGL-USD	+0.0081%	1h	358.66	−0.056%	$211K	$279K	10x	as long as short
Hotstuff GOOGL-PERP	+0.0096%	1h	358.66	−0.056%	$33K	—	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	358.55	−0.086%	$42K	$20K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	358.48	−0.106%	$3.0M	$222K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	358.52	−0.095%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	358.82	−0.011%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	358.75	−0.031%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	358.61	−0.070%	$138K	$36K	20x	as long as short
GRVT GOOGL_USDT_Perp	+0.0145%	8h	358.89	+0.008%	$23K	$447K	10x	as long as short
BloFin GOOGL-USDT	+0.0187%	8h	358.91	+0.014%	$688K	$240K	20x	as long as short
Lighter GOOGL	+0.0192%	1h	358.85	−0.003%	$2.0M	$2.2M	20x	as long as short
edgeX GOOGLUSDC	+0.0260%	4h	358.82	−0.010%	$209K	$1.2M	10x	as long as short