Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.010%

Price spread now: Phoenix against Bitget−0.042%49s7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as 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−$340.344% of the position

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now −0.042%, 7d avg −0.060%

Together, before fees+0.023%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.060%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. The two prices were read 49 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	357.69	0	get 0.0000% / 8h	3h 00m	$17.5M	$9.7M	100x
Short	Phoenix GOOGL	357.54	0.0179	get 0.0022% / 1h	0m 37s	$138K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.042%Rate

Funding earned: $37.6
Price spread: −0.042% → −0.060%: $1.85
Slippage, 4 orders: −$15.36
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $5.09
Costs to cover: 0.344%
Break-even: 6.1 days

Slippage from Bitget: live order book, 3 min ago; Phoenix: live order book, 45 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, 3 min ago	0.70 bp	8.2 bp −$8	11.7 bp −$117	doesn't fit	doesn't fit
Sell Phoenix live order book, 45 min ago	3.08 bp	9.3 bp −$9	20.1 bp −$201	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
Gate GOOGL_USDT	0.0000%	8h	357.53	−0.045%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDTlong	0.0000%	8h	357.69	long leg	$17.5M	$9.7M	100x
SunX GOOGL-USDT	0.0000%	8h	357.65	−0.011%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.38	−0.087%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.80	+0.031%	$115K	$216K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.68	−0.003%	$2.7M	$87K	10x	as long as short
Nado GOOGL-PERP	+0.0003%	1h	357.51	−0.050%	$558K	$86K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.19	−0.140%	$521K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0021%	1h	357.51	−0.049%	$144K	$47K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0023%	8h	357.66	−0.008%	$24K	$442K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GOOGL	+0.0024%	8h	357.59	−0.027%	$4.8M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.62	−0.020%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.159%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.35	−0.095%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.75	+0.017%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.50	−0.053%	$99.2M	$20.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.42	−0.075%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.45	−0.067%	$160	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.27	−0.117%	$2.3M	$4.9M	15x	as long as short
OKX GOOGL-USDT-SWAP	+0.0061%	8h	357.62	−0.020%	$13.7M	$12.5M	50x	as long as short
Paradex GOOGL-USD-PERP	+0.0063%	8h	357.68	−0.003%	$293	$253	5x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.52	−0.048%	$1.3M	$4.2M	10x	as long as short
Aster GOOGLUSDT	+0.0078%	8h	357.60	−0.024%	$366K	$426K	20x	as long as short
Extended GOOGL-USD	+0.0096%	1h	357.60	−0.027%	$419K	$1.2M	20x	as long as short
Binance GOOGLUSDT	+0.0096%	8h	357.66	−0.008%	$72.4M	$142.9M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.51	−0.051%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.50	−0.053%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.43	−0.073%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.51	−0.050%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.50	−0.053%	$25K	—	10x	as long as short
Hotstuff GOOGL-PERP	+0.0152%	1h	357.42	−0.075%	$33K	—	20x	as long as short
Phoenix GOOGLshort	+0.0179%	1h	357.54	−0.042%	$138K	$36K	20x
Lighter GOOGL	+0.0184%	1h	357.66	−0.008%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0219%	8h	357.65	−0.011%	$693K	$235K	20x	as long as short
Bybit GOOGLUSDT	+0.0232%	8h	357.75	+0.017%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0950%	4h	357.56	−0.037%	$208K	$1.2M	10x	as long as short