Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against KuCoin+0.087%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$242as in the Funding arb table

Net, price: spread back to 7d avg − costs−$235as in the Price arb table

costs, in and out, $10k−$2342.337% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 3 days (all we have)+0.030%+$3 · spread now +0.087%, 7d avg +0.097%

Together, before fees−0.049%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.097%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin GOOGLUSDTM	356.16	0.0100	pay 0.0100% / 8h	6h 58m	$3.0M	$65K	20x
Short	Phemex GOOGLUSDT	356.47	0	get 0.0000% / 4h	2h 58m	$2.7M	$67K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$21
Price spread: +0.087% → +0.097%: −$0.97
Slippage, 4 orders: −$209.68
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$255.65
Costs to cover: 2.337%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Phemex: 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 KuCoin live order book, 4 min ago	5.20 bp	74.0 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.96 bp	29.7 bp −$30	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
Deribit GOOGL_USDC-PERPETUAL	−0.0171%	1h	356.06	−0.028%	$23K	$153K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.22	+0.017%	$528K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.36	+0.056%	$3.6M	$7.5M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.44	+0.078%	$23K	$452K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.48	+0.090%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.57	+0.115%	$114K	$227K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	356.47	+0.087%	$2.7M	$67K	10x
Aftermath Perps GOOGLUSD	+0.0010%	1h	356.22	+0.016%	$144K	$52K	10x	as long as short
Bitget GOOGLUSDT	+0.0020%	8h	356.45	+0.081%	$16.9M	$9.3M	100x	as long as short
Variational Omni GOOGL	+0.0027%	8h	356.41	+0.071%	$4.8M	$2.3M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter GOOGL	+0.0032%	1h	356.37	+0.059%	$2.1M	$1.1M	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.47	+0.087%	$1.4M	$2.3M	20x	as long as short
Nado GOOGL-PERP	+0.0032%	1h	356.30	+0.039%	$556K	$80K	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.270%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.50	+0.095%	—	$5K	25x	as long as short
Hotstuff GOOGL-PERP	+0.0048%	1h	356.22	+0.017%	$33K	—	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.19	+0.008%	$98.3M	$22.0M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.22	+0.017%	$683K	$441K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.21	+0.014%	$170	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.16	0.000%	$2.2M	$4.8M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.36	+0.056%	$1.3M	$4.6M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0065%	8h	356.43	+0.075%	$292	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0076%	8h	356.47	+0.087%	$11.5M	$7.5M	100x	as long as short
Aster GOOGLUSDT	+0.0078%	8h	356.55	+0.110%	$364K	$458K	20x	as long as short
Extended GOOGL-USD	+0.0096%	1h	356.34	+0.051%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0099%	8h	356.43	+0.076%	$72.7M	$142.1M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.23	+0.019%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTMlong	+0.0100%	8h	356.16	long leg	$3.0M	$65K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.17	+0.003%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.28	+0.034%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.32	+0.045%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.30	+0.039%	$137K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0178%	8h	356.53	+0.104%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0219%	8h	356.49	+0.093%	$647K	$234K	20x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.24	+0.022%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0952%	4h	356.41	+0.071%	$209K	$1.2M	10x	as long as short