Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.078%

Price spread now: Coinbase International against BloFin−0.171%58s7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as 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−$300.297% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.310%−$31 on $10k

Price spread, last 4 days (all we have)+0.085%+$8 · spread now −0.171%, 7d avg −0.138%

Together, before fees−0.225%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Coinbase International is 0.033% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.138%). Swap the legs. The two prices were read 58 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	BloFin GOOGL-USDT	357.21	0.0132	pay 0.0132% / 8h	59m 28s	$688K	$236K	20x
Short	Coinbase International GOOGL-PERP-INTX	356.60	−0.0024	pay 0.0003% / 1h	59m 28s	$511K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.171%Rate

Funding earned: −$32.81
Price spread: −0.171% → −0.138%: −$3.31
Slippage, 4 orders: −$7.73
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$65.85
Costs to cover: 0.297%
Break-even: never at this rate

Slippage from BloFin: live order book, 22 min ago; Coinbase International: live order book, 4 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 BloFin live order book, 22 min ago	0.70 bp	6.7 bp −$7	7.7 bp −$77	17.7 bp −$1,769	doesn't fit
Sell Coinbase International live order book, 4 min ago	2.10 bp	7.7 bp −$8	10.4 bp −$104	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
Coinbase International GOOGL-PERP-INTXshort	−0.0024%	1h	356.60	−0.171%	$511K	$1.1M	10x
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.02	−0.053%	$13.6M	$12.9M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.11	−0.028%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.34	+0.036%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.18	−0.008%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.21	−0.001%	$23K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.24	+0.008%	$1K	$4.0M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.39	+0.050%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.26	+0.014%	$2.7M	$88K	10x	as long as short
Nado GOOGL-PERP	0.0000%	1h	357.09	−0.034%	$549K	$91K	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GOOGLUSDT	+0.0010%	8h	357.29	+0.022%	$365K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0019%	1h	357.02	−0.052%	$144K	$45K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.19	−0.006%	$1.3M	$2.1M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.17	−0.011%	$426K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0032%	8h	357.26	+0.014%	$72.0M	$143.7M	50x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.025%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0038%	1h	357.20	−0.003%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.94	−0.076%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.35	+0.039%	—	$5K	25x	as long as short
Hotstuff GOOGL-PERP	+0.0048%	1h	357.09	−0.034%	$33K	—	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.09	−0.034%	$98.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.98	−0.064%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.08	−0.036%	$141	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.95	−0.073%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0052%	8h	357.21	+0.001%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0078%	8h	356.75	−0.129%	$3.0M	$100K	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0086%	1h	357.20	−0.003%	$24K	$156K	10x	as long as short
Phoenix GOOGL	+0.0090%	1h	357.13	−0.022%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.01	−0.055%	$42K	$37K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.04	−0.048%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.11	−0.028%	$10K	$11K	20x	as long as short
Lighter GOOGL	+0.0104%	1h	357.25	+0.011%	$2.0M	$1.3M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.10	−0.030%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0119%	8h	357.25	+0.011%	$11.5M	$7.9M	100x	as long as short
BloFin GOOGL-USDTlong	+0.0132%	8h	357.21	long leg	$688K	$236K	20x
edgeX GOOGLUSDC	+0.0728%	4h	357.16	−0.014%	$208K	$1.2M	10x	as long as short