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: QFEX against KuCoin+0.095%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$279as in the Price arb table

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

Long on KuCoin Short on QFEX

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−0.022%−$2 · spread now +0.095%, 7d avg +0.029%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.066% dearer against KuCoin than usual: you sell high and buy low (spread +0.095% now, against its 7-day average of +0.029%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.4 days. 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	KuCoin GOOGLUSDTM	357.32	0.0100	pay 0.0100% / 8h	4h 33m	$3.0M	$91K	20x
Short	QFEX GOOGL-USD	357.66	0.0050	get 0.0006% / 1h	33m 52s	$1.3M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$10.58
Price spread: +0.095% → +0.029%: $6.58
Slippage, 4 orders: −$263.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$289.41
Costs to cover: 2.854%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	4.34 bp	157.0 bp −$157	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.12 bp	6.1 bp −$6	6.1 bp −$61	11.4 bp −$1,139	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	+0.062%	$526K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.63	+0.087%	$3.6M	$7.4M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.72	+0.113%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.79	+0.132%	$23K	$435K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.75	+0.120%	$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	+0.154%	$115K	$221K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.83	+0.143%	$2.7M	$86K	10x	as long as short
Bitget GOOGLUSDT	+0.0003%	8h	357.77	+0.126%	$17.5M	$9.6M	100x	as long as short
Aftermath Perps GOOGLUSD	+0.0014%	1h	357.61	+0.082%	$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	+0.126%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.056%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.44	+0.034%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.72	+0.112%	—	$5K	25x	as long as short
QFEX GOOGL-USDshort	+0.0050%	1h	357.66	+0.095%	$1.3M	$4.2M	10x
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.51	+0.053%	$99.0M	$20.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.49	+0.048%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.51	+0.053%	$151	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.40	+0.022%	$2.3M	$4.9M	15x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	357.55	+0.064%	$33K	—	20x	as long as short
Aster GOOGLUSDT	+0.0058%	8h	357.88	+0.158%	$366K	$457K	20x	as long as short
Binance GOOGLUSDT	+0.0078%	8h	357.75	+0.120%	$73.1M	$141.3M	50x	as long as short
Extended GOOGL-USD	+0.0080%	1h	357.66	+0.095%	$426K	$1.8M	20x	as long as short
Nado GOOGL-PERP	+0.0092%	1h	357.49	+0.049%	$558K	$80K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.70	+0.106%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTMlong	+0.0100%	8h	357.32	long leg	$3.0M	$91K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.48	+0.045%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.47	+0.042%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.61	+0.081%	$25K	—	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0106%	8h	357.67	+0.098%	$293	$253	5x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.58	+0.073%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0113%	8h	357.71	+0.109%	$13.8M	$12.4M	50x	as long as short
Bybit GOOGLUSDT	+0.0187%	8h	357.84	+0.146%	$12.0M	$7.6M	100x	as long as short
BloFin GOOGL-USDT	+0.0197%	8h	357.74	+0.118%	$695K	$234K	20x	as long as short
Lighter GOOGL	+0.0288%	1h	357.76	+0.123%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0572%	4h	357.70	+0.106%	$209K	$1.2M	10x	as long as short