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: KuCoin against Phoenix−0.112%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$188as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

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

Long on Phoenix Short on KuCoin

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)+0.136%+$14 · spread now −0.112%, 7d avg −0.015%

Together, before fees+0.029%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and KuCoin is 0.097% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOOGL	357.29	0.0134	pay 0.0017% / 1h	9m 29s	$137K	$36K	20x
Short	KuCoin GOOGLUSDTM	356.89	0.0100	get 0.0100% / 8h	2h 09m	$3.0M	$106K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phoenix. 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 PhoenixbpFee KuCoinbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$7.19
Price spread: −0.112% → −0.015%: −$9.71
Slippage, 4 orders: −$158.69
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$194.6
Costs to cover: 1.777%
Break-even: never at this rate

Slippage from Phoenix: live order book, 31 min ago; KuCoin: live order book, 3 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 Phoenix live order book, 31 min ago	3.08 bp	9.2 bp −$9	19.7 bp −$197	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 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	357.24	−0.014%	$557K	$86K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.41	+0.034%	$13.7M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.32	+0.008%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.48	+0.053%	$17.3M	$9.9M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.45	+0.045%	$4.7M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.48	+0.052%	$23K	$446K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.45	+0.045%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.22	−0.020%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.49	+0.056%	$115K	$213K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.54	+0.070%	$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	−0.115%	$519K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0020%	1h	357.21	−0.021%	$144K	$47K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.39	+0.028%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.048%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.17	−0.034%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.49	+0.056%	—	$5K	25x	as long as short
Aster GOOGLUSDT	+0.0046%	8h	357.53	+0.067%	$366K	$426K	20x	as long as short
QFEX GOOGL-USD	+0.0047%	1h	357.34	+0.014%	$1.3M	$4.2M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.18	−0.031%	$98.3M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.16	−0.036%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.22	−0.020%	$159	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.19	−0.028%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0058%	8h	357.36	+0.019%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0064%	1h	357.33	+0.010%	$422K	$1.2M	20x	as long as short
Binance GOOGLUSDT	+0.0067%	8h	357.44	+0.041%	$72.1M	$143.7M	50x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	357.18	−0.031%	$33K	—	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.18	−0.032%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTMshort	+0.0100%	8h	356.89	−0.112%	$3.0M	$106K	20x
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.30	+0.003%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.24	−0.014%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.32	+0.008%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.40	+0.031%	$2.0M	$1.3M	20x	as long as short
Phoenix GOOGLlong	+0.0134%	1h	357.29	long leg	$137K	$36K	20x
BloFin GOOGL-USDT	+0.0188%	8h	357.49	+0.056%	$688K	$236K	20x	as long as short
Bybit GOOGLUSDT	+0.0199%	8h	357.50	+0.059%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0578%	4h	357.45	+0.046%	$208K	$1.2M	10x	as long as short