Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0080%/8h= −8.7% APRpaid last 24h −0.061%

Price spread now: Injective against BloFin−0.137%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.295%−$30 on $10k

Price spread, last 4 days (all we have)+0.094%+$9 · spread now −0.137%, 7d avg +0.037%

Together, before fees−0.201%−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.174% cheaper against BloFin than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin GOOGL-USDT	357.61	0.0113	pay 0.0113% / 8h	15m 55s	$688K	$236K	20x
Short	Injective GOOGL/USDC PERP	357.12	0.0033	get 0.0004% / 1h	15m 55s	$128K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.137%Rate

Funding earned: −$16.73
Price spread: −0.137% → +0.037%: −$17.45
Slippage, 4 orders: −$21.84
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$68.04
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from BloFin: live order book, 66 min ago; Injective: live order book, 23 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, 66 min ago	0.70 bp	6.7 bp −$7	7.7 bp −$77	17.7 bp −$1,769	doesn't fit
Sell Injective live order book, 23 min ago	9.93 bp	9.9 bp −$10	9.9 bp −$99	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
Deribit GOOGL_USDC-PERPETUAL	−0.0281%	1h	357.31	−0.084%	$24K	$157K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0048%	1h	357.09	−0.145%	$512K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0008%	1h	357.49	−0.033%	$550K	$88K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.62	+0.003%	$13.6M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.51	−0.028%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.67	+0.017%	$17.4M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.51	−0.027%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.56	−0.014%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.67	+0.017%	$1K	$4.0M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.77	+0.045%	$115K	$210K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDT	0.0000%	4h	357.69	+0.022%	$2.7M	$88K	10x	as long as short
Aster GOOGLUSDT	+0.0006%	8h	357.81	+0.057%	$366K	$422K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.42	−0.054%	$144K	$44K	10x	as long as short
Hotstuff GOOGL-PERP	+0.0024%	1h	357.45	−0.045%	$33K	—	20x	as long as short
Binance GOOGLUSDT	+0.0028%	8h	357.67	+0.017%	$72.1M	$143.3M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.59	−0.006%	$1.4M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.59	−0.007%	$427K	$2.5M	20x	as long as short
Injective GOOGL/USDC PERPshort	+0.0033%	1h	357.12	−0.137%	$128K	$45K	30x
QFEX GOOGL-USD	+0.0035%	1h	357.58	−0.008%	$1.3M	$4.1M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.33	−0.078%	$208K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.78	+0.048%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.50	−0.031%	$98.2M	$21.4M	20x	as long as short
KuCoin GOOGLUSDTM	+0.0050%	8h	357.15	−0.129%	$3.0M	$106K	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.41	−0.056%	$686K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.43	−0.050%	$134	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.19	−0.117%	$2.3M	$4.6M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.62	+0.002%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0084%	8h	357.67	+0.017%	$11.5M	$7.9M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.41	−0.057%	$42K	$26K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.36	−0.070%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.49	−0.034%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.54	−0.020%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.67	+0.017%	$2.0M	$1.4M	20x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.32	−0.081%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDTlong	+0.0113%	8h	357.61	long leg	$688K	$236K	20x
edgeX GOOGLUSDC	+0.0159%	4h	357.53	−0.024%	$208K	$1.2M	10x	as long as short