Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0090%/8h= +9.8% APRpaid last 24h +0.010%

Price spread now: Phoenix against Aster−0.158%105s7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as 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−$480.480% of the position

Long on Aster Short on Phoenix

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)+0.080%+$8 · spread now −0.158%, 7d avg −0.067%

Together, before fees+0.159%+ Points / potential airdropAster: Stage 5 · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.091% cheaper against Aster than usual: you would sell low and buy high (spread −0.158% now, against its 7-day average of −0.067%). If the spread goes back, that is −$9 on $10k: about 3.4 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 8.1 days. The two prices were read 105 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	Aster GOOGLUSDT	357.58	0	get 0.0000% / 8h	7h 51m	$366K	$422K	20x
Short	Phoenix GOOGL	357.01	0.0090	get 0.0011% / 1h	51m 44s	$137K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now −0.158%Rate

Funding earned: $18.81
Price spread: −0.158% → −0.067%: −$9.11
Slippage, 4 orders: −$32.96
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$38.27
Costs to cover: 0.480%
Break-even: 21.2 days

Slippage from Aster: live order book, 46 min ago; Phoenix: live order book, 39 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 Aster live order book, 46 min ago	2.52 bp	23.6 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 39 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	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
Coinbase International GOOGL-PERP-INTX	−0.0080%	1h	357.25	−0.091%	$512K	$1.1M	10x	as long as short
Hotstuff GOOGL-PERP	−0.0032%	1h	357.04	−0.150%	$33K	—	20x	as long as short
Aster GOOGLUSDTlong	0.0000%	8h	357.58	long leg	$366K	$422K	20x
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.50	−0.021%	$13.5M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.36	−0.060%	$3.6M	$7.0M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.56	−0.004%	$17.3M	$9.6M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.23	−0.098%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.24	−0.094%	$23K	$441K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.50	−0.021%	$2K	$3.9M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.66	+0.023%	$115K	$209K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDT	0.0000%	4h	357.60	+0.007%	$2.7M	$88K	10x	as long as short
Extended GOOGL-USD	+0.0016%	1h	357.42	−0.044%	$427K	$2.5M	20x	as long as short
Binance GOOGLUSDT	+0.0018%	8h	357.51	−0.018%	$72.1M	$141.5M	50x	as long as short
Aftermath Perps GOOGLUSD	+0.0028%	1h	357.40	−0.049%	$144K	$44K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.36	−0.060%	$1.4M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.128%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	357.42	−0.044%	$1.3M	$4.1M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.22	−0.100%	$207K	$279K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0045%	8h	357.01	−0.158%	$3.0M	$126K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.50	−0.021%	—	$5K	25x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.15	−0.119%	$685K	$415K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.31	−0.074%	$128	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.20	−0.105%	$2.3M	$4.4M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0053%	8h	357.33	−0.068%	$293	$253	5x	as long as short
Nado GOOGL-PERP	+0.0062%	1h	357.25	−0.093%	$549K	$87K	20x	as long as short
BloFin GOOGL-USDT	+0.0070%	8h	357.51	−0.018%	$689K	$234K	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0082%	1h	357.26	−0.088%	$98.3M	$21.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0086%	1h	357.32	−0.072%	$24K	$157K	10x	as long as short
Phoenix GOOGLshort	+0.0090%	1h	357.01	−0.158%	$137K	$36K	20x
Pacifica GOOGL	+0.0100%	1h	357.10	−0.134%	$42K	$25K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.03	−0.153%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.36	−0.060%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.28	−0.083%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0112%	8h	357.54	−0.010%	$11.5M	$7.7M	100x	as long as short
Lighter GOOGL	+0.0232%	1h	357.42	−0.044%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0618%	4h	357.20	−0.105%	$208K	$1.2M	10x	as long as short