Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: KuCoin against Phemex−0.182%50s7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$209as 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−$2172.169% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.182%, 7d avg −0.098%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.084% cheaper against Phemex than usual: you would sell low and buy high (spread −0.182% now, against its 7-day average of −0.098%). If the spread goes back, that is −$8 on $10k: about 2.8 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.079% in total) that is about 7.5 days. The two prices were read 50 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	Phemex GOOGLUSDT	357.53	0	get 0.0000% / 4h	2h 07m	$2.7M	$87K	10x
Short	KuCoin GOOGLUSDTM	356.88	0.0100	get 0.0100% / 8h	2h 07m	$3.0M	$106K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now −0.182%Rate

Funding earned: $21
Price spread: −0.182% → −0.098%: −$8.41
Slippage, 4 orders: −$192.87
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$204.28
Costs to cover: 2.169%
Break-even: 75.1 days

Slippage from Phemex: live order book, 1 min ago; KuCoin: 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 Phemex live order book, 1 min ago	2.38 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	5.18 bp	48.5 bp −$48	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
Nado GOOGL-PERP	−0.0023%	1h	357.19	−0.095%	$557K	$86K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.37	−0.045%	$13.7M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.24	−0.081%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.42	−0.031%	$17.3M	$9.9M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.45	−0.022%	$4.7M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.48	−0.015%	$23K	$446K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.38	−0.042%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.18	−0.098%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.48	−0.014%	$115K	$213K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	357.53	long leg	$2.7M	$87K	10x

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	−0.182%	$519K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0020%	1h	357.28	−0.070%	$145K	$47K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.35	−0.050%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.115%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.15	−0.106%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.45	−0.022%	—	$5K	25x	as long as short
Aster GOOGLUSDT	+0.0046%	8h	357.53	−0.001%	$366K	$426K	20x	as long as short
QFEX GOOGL-USD	+0.0047%	1h	357.24	−0.081%	$1.2M	$4.2M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.15	−0.106%	$98.2M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.14	−0.109%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.15	−0.106%	$159	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.19	−0.095%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0057%	8h	357.30	−0.063%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0064%	1h	357.27	−0.073%	$422K	$1.2M	20x	as long as short
Binance GOOGLUSDT	+0.0066%	8h	357.37	−0.045%	$72.1M	$143.7M	50x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	357.16	−0.103%	$33K	—	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.13	−0.112%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTMshort	+0.0100%	8h	356.88	−0.182%	$3.0M	$106K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.30	−0.064%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.17	−0.101%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.25	−0.079%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.36	−0.048%	$2.0M	$1.3M	20x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.29	−0.067%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0187%	8h	357.40	−0.036%	$685K	$236K	20x	as long as short
Bybit GOOGLUSDT	+0.0197%	8h	357.43	−0.028%	$12.0M	$7.6M	100x	as long as short
edgeX GOOGLUSDC	+0.0578%	4h	357.45	−0.021%	$208K	$1.2M	10x	as long as short