Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h −0.013%

Price spread now: Injective against Binance−0.229%47s7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as 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−$310.307% of the position

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)+0.326%+$33 · spread now −0.229%, 7d avg +0.052%

Together, before fees+0.284%+$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Injective is 0.281% cheaper against Binance than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of +0.052%. The two prices were read 47 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	Binance GOOGLUSDT	357.94	0.0038	pay 0.0038% / 8h	5h 12m	$72.9M	$141.0M	50x
Short	Injective GOOGL/USDC PERP	357.12	0.0033	get 0.0004% / 1h	12m 29s	$128K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.229%Rate

Funding earned: −$0.9
Price spread: −0.229% → +0.052%: −$28.14
Slippage, 4 orders: −$20.69
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$59.74
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; Injective: live order book, 51 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, 16 min ago	0.14 bp	5.3 bp −$5	7.7 bp −$77	21.0 bp −$2,105	doesn't fit
Sell Injective live order book, 51 min ago	9.38 bp	10.5 bp −$10	10.5 bp −$105	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	−0.0120%	1h	357.63	−0.087%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.46	−0.134%	$524K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0034%	1h	357.61	−0.091%	$558K	$80K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.76	−0.050%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.75	−0.054%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.75	−0.053%	$23K	$433K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.93	−0.003%	$2K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.98	+0.011%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.87	−0.020%	$2.7M	$80K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0004%	1h	357.47	−0.131%	$144K	$49K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GOOGLUSDT	+0.0017%	8h	357.69	−0.070%	$366K	$457K	20x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.78	−0.045%	$1.3M	$4.3M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.85	−0.025%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERPshort	+0.0033%	1h	357.12	−0.229%	$128K	$45K	30x
Binance GOOGLUSDTlong	+0.0038%	8h	357.94	long leg	$72.9M	$141.0M	50x
Extended GOOGL-USD	+0.0040%	1h	357.85	−0.026%	$426K	$1.8M	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.55	−0.109%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.84	−0.028%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.68	−0.073%	$99.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.61	−0.092%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.65	−0.081%	$149	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.54	−0.112%	$2.2M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0056%	8h	357.78	−0.045%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0057%	8h	358.03	+0.025%	$11.8M	$7.5M	100x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0058%	1h	357.67	−0.075%	$23K	$154K	10x	as long as short
Bitget GOOGLUSDT	+0.0062%	8h	357.93	−0.003%	$17.5M	$9.6M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.79	−0.042%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.50	−0.123%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.55	−0.109%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.71	−0.064%	$10K	$10K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0103%	8h	357.89	−0.014%	$13.8M	$12.4M	50x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.67	−0.074%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.57	−0.103%	$138K	$36K	20x	as long as short
Lighter GOOGL	+0.0144%	1h	357.88	−0.017%	$2.1M	$1.2M	20x	as long as short
BloFin GOOGL-USDT	+0.0145%	8h	357.69	−0.070%	$699K	$234K	20x	as long as short
edgeX GOOGLUSDC	+0.0839%	4h	357.71	−0.064%	$209K	$1.2M	10x	as long as short