Funding arb · Price arb /

GOOGL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0184%/8h= +20.2% APRpaid last 24h +0.022%

Price spread now: Bybit against Arcus+0.053%56s7-day average +0.080% · 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—prices read too far apart to compare

costs, in and out, $10k−$320.320% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.033%−$3 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.053%, 7d avg +0.080%

Together, before fees−0.049%−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.027% cheaper against Arcus than usual: you would sell low and buy high (spread +0.053% now, against its 7-day average of +0.080%). If the spread goes back, that is −$3 on $10k: about 12 hours of funding at the current rate (+$6 a day). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.033% in total (about -3.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus GOOGL-USD	357.25	0.0040	pay 0.0005% / 1h	52m 46s	$207K	$279K	10x
Short	Bybit GOOGLUSDT	357.44	0.0224	get 0.0224% / 8h	2h 52m	$12.0M	$7.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now +0.053%Rate

Funding earned: $38.66
Price spread: +0.053% → +0.080%: −$2.71
Slippage, 4 orders: −$16.53
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $3.91
Costs to cover: 0.320%
Break-even: 6.3 days

Slippage from Arcus: live order book, 61 min ago; Bybit: 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 Arcus live order book, 61 min ago	1.12 bp	7.0 bp −$7	16.6 bp −$166	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.28 bp	8.2 bp −$8	12.6 bp −$126	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
Hotstuff GOOGL-PERP	−0.0048%	1h	357.14	−0.031%	$33K	—	20x	as long as short
Nado GOOGL-PERP	−0.0030%	1h	357.12	−0.037%	$557K	$86K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.27	+0.006%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.47	+0.062%	$17.5M	$9.7M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.40	+0.042%	$965	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.14	−0.031%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.46	+0.059%	$115K	$216K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.67	+0.118%	$2.7M	$87K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0009%	8h	357.63	+0.107%	$23K	$442K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.19	−0.017%	$521K	$1.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GOOGL	+0.0017%	8h	357.50	+0.071%	$4.8M	$2.4M	—	as long as short
Aftermath Perps GOOGLUSD	+0.0021%	1h	357.29	+0.011%	$144K	$47K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.28	+0.008%	$1.3M	$2.1M	20x	as long as short
edgeX GOOGLUSDC	+0.0032%	4h	357.44	+0.054%	$208K	$1.2M	10x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.036%	$128K	$45K	30x	as long as short
Arcus GOOGL-USDlong	+0.0040%	1h	357.25	long leg	$207K	$279K	10x
Vest GOOGL-USD-PERP	+0.0046%	1h	357.41	+0.045%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0047%	1h	357.30	+0.014%	$1.3M	$4.2M	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0049%	8h	357.32	+0.020%	$13.7M	$12.5M	50x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.15	−0.028%	$99.2M	$20.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.17	−0.022%	$685K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.15	−0.028%	$155	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.08	−0.048%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0062%	8h	357.27	+0.005%	$293	$253	5x	as long as short
Aster GOOGLUSDT	+0.0071%	8h	357.45	+0.057%	$366K	$426K	20x	as long as short
Extended GOOGL-USD	+0.0088%	1h	357.29	+0.012%	$424K	$1.2M	20x	as long as short
Lighter GOOGL	+0.0088%	1h	357.29	+0.011%	$2.0M	$1.3M	20x	as long as short
Binance GOOGLUSDT	+0.0090%	8h	357.39	+0.039%	$72.3M	$143.0M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.12	−0.037%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.17	−0.022%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.44	+0.053%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.23	−0.006%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.20	−0.015%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.24	−0.003%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0210%	8h	357.41	+0.045%	$693K	$235K	20x	as long as short
Bybit GOOGLUSDTshort	+0.0224%	8h	357.44	+0.053%	$12.0M	$7.5M	100x