Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0034%/8h= +3.8% APRpaid last 24h +0.009%

Price spread now: Phoenix against KuCoin+0.101%78s7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$167as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1781.777% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 4 days (all we have)−0.125%−$12 · spread now +0.101%, 7d avg +0.015%

Together, before fees−0.018%−$2 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 Phoenix is 0.086% dearer against KuCoin than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.015%. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin GOOGLUSDTM	356.89	0.0100	pay 0.0100% / 8h	2h 10m	$3.0M	$106K	20x
Short	Phoenix GOOGL	357.25	0.0134	get 0.0017% / 1h	10m 07s	$137K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.101%Rate

Funding earned: $7.19
Price spread: +0.101% → +0.015%: $8.6
Slippage, 4 orders: −$158.69
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$161.9
Costs to cover: 1.777%
Break-even: 164.6 days

Slippage from KuCoin: live order book, 2 min ago; Phoenix: live order book, 31 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, 2 min ago	5.18 bp	110.8 bp −$111	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 31 min ago	3.08 bp	9.2 bp −$9	19.7 bp −$197	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
Nado GOOGL-PERP	−0.0022%	1h	357.28	+0.109%	$557K	$86K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.40	+0.143%	$13.7M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.31	+0.118%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.48	+0.165%	$17.3M	$9.9M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.45	+0.158%	$4.7M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.32	+0.120%	$23K	$447K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.45	+0.157%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.22	+0.092%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.49	+0.168%	$115K	$213K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.54	+0.182%	$2.7M	$87K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	356.88	−0.003%	$519K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0020%	1h	357.21	+0.091%	$144K	$47K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.43	+0.151%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.064%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.18	+0.081%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.55	+0.185%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0047%	1h	357.34	+0.126%	$1.3M	$4.2M	10x	as long as short
Aster GOOGLUSDT	+0.0047%	8h	357.53	+0.179%	$366K	$426K	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.19	+0.084%	$98.3M	$21.8M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.16	+0.076%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.22	+0.092%	$159	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.19	+0.084%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0058%	8h	357.40	+0.142%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0064%	1h	357.34	+0.125%	$422K	$1.2M	20x	as long as short
Binance GOOGLUSDT	+0.0067%	8h	357.42	+0.148%	$72.1M	$143.7M	50x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	357.21	+0.090%	$33K	—	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.21	+0.090%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTMlong	+0.0100%	8h	356.89	long leg	$3.0M	$106K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.26	+0.104%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.24	+0.098%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.32	+0.120%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.45	+0.157%	$2.0M	$1.3M	20x	as long as short
Phoenix GOOGLshort	+0.0134%	1h	357.25	+0.101%	$137K	$36K	20x
BloFin GOOGL-USDT	+0.0188%	8h	357.49	+0.168%	$688K	$236K	20x	as long as short
Bybit GOOGLUSDT	+0.0199%	8h	357.52	+0.177%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0494%	4h	357.41	+0.147%	$208K	$1.2M	10x	as long as short