Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.015%

Price spread now: QFEX against SunX−0.034%7-day average −0.014% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1131.129% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now −0.034%, 7d avg −0.014%

Together, before fees−0.007%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX GOOGL-USDT	356.61	0	get 0.0000% / 8h	7h 47m	$1K	$4.2M	20x
Short	QFEX GOOGL-USD	356.49	0.0064	get 0.0008% / 1h	47m 47s	$1.3M	$4.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $13.34
Price spread: −0.034% → −0.014%: −$1.96
Slippage, 4 orders: −$94.9
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$101.52
Costs to cover: 1.129%
Break-even: 60.3 days

Slippage from SunX: live order book, 10 min ago; QFEX: live order book, 6 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 SunX live order book, 10 min ago	44.73 bp	49.2 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	2.24 bp	7.2 bp −$7	8.1 bp −$81	14.6 bp −$1,457	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
Gate GOOGL_USDT	0.0000%	8h	356.51	−0.028%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDTlong	0.0000%	8h	356.61	long leg	$1K	$4.2M	20x
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.34	−0.076%	$23K	$153K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.70	+0.025%	$115K	$225K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.64	+0.008%	$2.7M	$66K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0017%	1h	356.38	−0.064%	$144K	$53K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.62	+0.003%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	356.34	−0.076%	$529K	$1.1M	10x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.143%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.60	−0.003%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff GOOGL-PERP	+0.0048%	1h	356.36	−0.070%	$33K	—	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.41	−0.056%	$98.2M	$24.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.38	−0.064%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.34	−0.076%	$173	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.16	−0.126%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USDshort	+0.0064%	1h	356.49	−0.034%	$1.3M	$4.8M	10x
Variational Omni GOOGL	+0.0068%	8h	356.63	+0.006%	$4.8M	$2.7M	—	as long as short
Nado GOOGL-PERP	+0.0087%	1h	356.39	−0.061%	$560K	$81K	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0095%	8h	356.54	−0.021%	$292	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.49	−0.033%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.12	−0.137%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.62	+0.003%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.37	−0.067%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.47	−0.040%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	356.61	0.000%	$2.1M	$1.1M	20x	as long as short
Aster GOOGLUSDT	+0.0113%	8h	356.72	+0.032%	$365K	$457K	20x	as long as short
GRVT GOOGL_USDT_Perp	+0.0121%	8h	356.81	+0.056%	$23K	$472K	10x	as long as short
Binance GOOGLUSDT	+0.0134%	8h	356.63	+0.006%	$73.2M	$142.4M	50x	as long as short
Extended GOOGL-USD	+0.0136%	1h	356.53	−0.022%	$429K	$1.7M	20x	as long as short
Bitget GOOGLUSDT	+0.0143%	8h	356.59	−0.006%	$16.9M	$9.2M	100x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.56	−0.014%	$137K	$48K	20x	as long as short
Bybit GOOGLUSDT	+0.0197%	8h	356.73	+0.034%	$11.5M	$7.7M	100x	as long as short
OKX GOOGL-USDT-SWAP	+0.0200%	8h	356.57	−0.011%	$13.8M	$12.8M	50x	as long as short
BloFin GOOGL-USDT	+0.0254%	8h	356.66	+0.014%	$688K	$235K	20x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.43	−0.050%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0476%	4h	356.74	+0.035%	$210K	$1.2M	10x	as long as short