Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0062%/8h= −6.8% APRpaid last 24h −0.028%

Price spread now: Phemex against Bitget+0.020%46s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as 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−$720.717% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.132%+$13 · spread now +0.020%, 7d avg +0.023%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 46 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	Bitget GOOGLUSDT	357.93	0.0062	pay 0.0062% / 8h	5h 11m	$17.5M	$9.6M	100x
Short	Phemex GOOGLUSDT	358.00	0	get 0.0000% / 4h	1h 11m	$2.7M	$80K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$13.02
Price spread: +0.020% → +0.023%: −$0.38
Slippage, 4 orders: −$47.75
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$85.15
Costs to cover: 0.717%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Phemex: live order book, 2 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 Bitget live order book, 2 min ago	0.28 bp	7.2 bp −$7	9.9 bp −$99	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.96 bp	32.5 bp −$33	doesn't fit	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	−0.0072%	1h	357.68	−0.070%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.46	−0.131%	$524K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0031%	1h	357.64	−0.081%	$558K	$80K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.79	−0.039%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.75	−0.052%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.85	−0.022%	$23K	$433K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.93	0.000%	$2K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.99	+0.017%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	358.00	+0.020%	$2.7M	$80K	10x
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.61	−0.089%	$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	+0.0018%	8h	357.71	−0.063%	$366K	$457K	20x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.80	−0.036%	$1.3M	$4.3M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.89	−0.011%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.226%	$128K	$45K	30x	as long as short
Binance GOOGLUSDT	+0.0038%	8h	357.97	+0.011%	$72.9M	$141.0M	50x	as long as short
Extended GOOGL-USD	+0.0040%	1h	357.85	−0.023%	$426K	$1.8M	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.57	−0.101%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.89	−0.011%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.71	−0.061%	$99.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.62	−0.087%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.67	−0.073%	$150	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.57	−0.101%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0057%	8h	357.81	−0.034%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0061%	8h	358.06	+0.036%	$11.8M	$7.5M	100x	as long as short
Bitget GOOGLUSDTlong	+0.0062%	8h	357.93	long leg	$17.5M	$9.6M	100x
Pacifica GOOGL	+0.0100%	1h	357.83	−0.028%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.50	−0.120%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.59	−0.095%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.79	−0.039%	$10K	$10K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0104%	8h	357.95	+0.006%	$13.8M	$12.4M	50x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.71	−0.061%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.70	−0.064%	$138K	$36K	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0114%	1h	357.72	−0.059%	$23K	$154K	10x	as long as short
Lighter GOOGL	+0.0144%	1h	357.93	0.000%	$2.1M	$1.2M	20x	as long as short
BloFin GOOGL-USDT	+0.0145%	8h	357.69	−0.067%	$699K	$234K	20x	as long as short
edgeX GOOGLUSDC	+0.0417%	4h	357.85	−0.023%	$209K	$1.2M	10x	as long as short