Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0184%/8h= +20.2% APRpaid last 24h −0.022%

Price spread now: Arcus against Binance−0.102%7-day average −0.064% · 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−$32as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Binance Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.037%+$4 on $10k

Price spread, last 2 days (all we have)+0.036%+$4 · spread now −0.102%, 7d avg −0.064%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.037% cheaper against Binance than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of −0.064%). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$6 a day). At the pace of the last 3 days (+0.037% in total) that is about 3.5 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.037% in total (about 3.9% 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	Binance GOOGLUSDT	356.47	0.0121	pay 0.0121% / 8h	7h 35m	$72.9M	$143.0M	50x
Short	Arcus GOOGL-USD	356.11	0.0306	get 0.0038% / 1h	35m 31s	$202K	$271K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Binance. 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 BinancebpFee ArcusbpOrdersPrice spread, now −0.102%Rate

Funding earned: $38.71
Price spread: −0.102% → −0.064%: −$3.75
Slippage, 4 orders: −$13.61
Fee Binance: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $6.85
Costs to cover: 0.281%
Break-even: 5.8 days

Slippage from Binance: live order book, 8 min ago; Arcus: live order book, 38 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 Binance live order book, 8 min ago	0.14 bp	5.2 bp −$5	7.8 bp −$78	26.9 bp −$2,686	doesn't fit
Sell Arcus live order book, 38 min ago	1.82 bp	5.7 bp −$6	6.0 bp −$60	15.9 bp −$1,589	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
Deribit GOOGL_USDC-PERPETUAL	−0.0087%	1h	356.07	−0.113%	$23K	$153K	10x	as long as short
Hotstuff GOOGL-PERP	−0.0040%	1h	356.18	−0.082%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.36	−0.032%	$3.6M	$7.5M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.22	−0.072%	$23K	$467K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.41	−0.018%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.55	+0.022%	$115K	$225K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.39	−0.023%	$2.7M	$66K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0016%	1h	356.03	−0.124%	$144K	$52K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.49	+0.005%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	355.85	−0.175%	$528K	$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
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.182%	$128K	$45K	30x	as long as short
Lighter GOOGL	+0.0040%	1h	356.42	−0.015%	$2.1M	$1.1M	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.43	−0.012%	—	$5K	25x	as long as short
Nado GOOGL-PERP	+0.0047%	1h	356.27	−0.055%	$559K	$81K	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.27	−0.057%	$98.2M	$22.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.24	−0.065%	$683K	$442K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.19	−0.079%	$170	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.15	−0.090%	$2.2M	$4.9M	15x	as long as short
Variational Omni GOOGL	+0.0057%	8h	356.37	−0.029%	$4.8M	$2.7M	—	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.37	−0.029%	$1.3M	$4.8M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0084%	8h	356.42	−0.014%	$292	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0097%	8h	356.42	−0.015%	$17.0M	$9.3M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.36	−0.032%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	355.91	−0.158%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.18	−0.082%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.18	−0.082%	$10K	$10K	20x	as long as short
Aster GOOGLUSDT	+0.0100%	8h	356.49	+0.006%	$364K	$457K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.17	−0.084%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0117%	8h	356.45	−0.006%	$11.5M	$7.7M	100x	as long as short
Extended GOOGL-USD	+0.0120%	1h	356.41	−0.019%	$425K	$1.9M	20x	as long as short
Binance GOOGLUSDTlong	+0.0121%	8h	356.47	long leg	$72.9M	$143.0M	50x
Phoenix GOOGL	+0.0157%	1h	356.21	−0.074%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0195%	8h	356.50	+0.008%	$13.8M	$12.8M	50x	as long as short
BloFin GOOGL-USDT	+0.0241%	8h	356.36	−0.032%	$691K	$234K	20x	as long as short
Arcus GOOGL-USDshort	+0.0306%	1h	356.11	−0.102%	$202K	$271K	10x
edgeX GOOGLUSDC	+0.0825%	4h	356.13	−0.096%	$208K	$1.2M	10x	as long as short