Funding arb · Price arb / RWA

GOOGL

RWAAll GOOGL markets →

LONGBackpack▾Backpack +0.0497%

⇄⇅

SHORTReya▾Reya −0.6909%

Backtest 30d

☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BackpackGOOGL.US_USDC_PERP	282.92	+0.0497	pay 0.0062% / 1h	45m 31s	$268K	$584K	10x	Long Backpack
SHORT	ReyaGOOGLRUSDPERP	281.95	−0.6909	pay 0.0864% / 1h	45m 31s	$184K	$212K	15x	Short Reya

Price gap−0.344%

Funding gap−0.7406% /8h

Both sides work against this direction now: funding costs $222 a day on $10k and the gap is 0.239% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −1.419% in total, about −0.0676%/8h on average.

Price and funding

Price spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Price spread?

Prices?

Funding?per 8h

PRICE SPREAD · 7D

Now−0.344%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

BackpackReya

GOOGL on 43 exchanges

lowest funding first

Before you open

2 ok · 3 to watch

• i
  Note: Order book unknown—

  No order-book sample for Reya: its slippage is not counted.
• i
  Note: Margin at max leverage$1,000 + $667

  Backpack 10x, Reya 15x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Backpack · 1h−$14.92

  Short Reya · 1h−$207.27

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$222.19Long Backpack: 24 payments, −$14.92; short Reya: 24 payments, −$207.27.
• !
  Watch: Gap narrower than usual−0.344% vs −0.104%

  Less room for the price leg to pay you. If it goes back to average, the short loses.
• !
  Watch: Short leg is thinner$184K vs $268K OI

  Reya sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legReya points

  Volume here counts toward the points program.
• !
  Watch: KYCBackpack Yes · Reya No

  KYC (ID, face scan, residency and source of income) before any trading.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0676%/8h × 21 periods−$141.88

Price spread−0.344% → −0.104% (7d avg)−$23.94

Slippage, 4 ordersno data for Reya—

Fee Backpack bp × 2 orders−$10.00

Fee Reya bp × 2 orders−$6.00

Net, fees only · 7 days · $10k−$181.82

Costs to cover0.160%Break-evennever at this rate

Slippage: Backpack: live order book, 36 min ago; Reya: no order-book sample

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGBackpack0.886.1 bp−$616.4 bp−$164doesn’t fitdoesn’t fit

SELL · SHORTReya—————

Closing costs about the same again.
Reya: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

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FundingPrice spread

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GOOGL news

posts that mention GOOGL or Alphabet, from every exchange

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11-05 12:39	Kalshi	Listing	new market KXGOOGLPERP ($GOOGL) seen by our collector
11-03 16:14	Arcus	Other	traders follow the prints. $AAPL and $GOOGL reported recently, and $AMD reports after the close today. the power of always-on markets. @arcus_xyz on X ↗
10-30 10:31	Markets by Kinetiq	Other	BREAKING: Big Tech stocks are getting crushed, with Wall Street bracing for a brutal Friday. $INTC: -25% $GOOGL: -10% $AMZN: -7% Nasdaq futures are plunging more than 2.5%. @Markets_xyz on X ↗
10-29 14:30	Kalshi	Other	JUST IN: Alphabet stock falls 13% and erases $500 billion in value after earnings miss @Kalshi on X ↗
10-29 13:32	Vest Markets	Other	Trade $GOOGL post-earnings volatility with a Vest Capital funded account. Access up to $50k in trading capital at: @VestExchange on X ↗
10-29 13:32	Vest Markets	Other	$GOOGL missed Q3 revenue and EPS estimates after yesterday's close, with free cash flow at -$9.07B. → Revenue: $127.6B vs. $127.91B expected, up 25% YoY → EPS: $2.12 vs. $3.01 expected, or $2.67 excluding a $0.55 equity securities loss → Google Cloud: $30.7B, up 103% YoY, beating estimates At the open, $GOOGL is down around 12%, with Search & other at $63.35B below the $64.9B expected, despite query growth at a five-year high. Quarterly capex more than doubled to $51.4B, with the 2026 plan held at $195B to $205B and 2027 spending guided significantly higher. @VestExchange on X ↗