Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0166%/8h= −18.2% APRpaid last 24h −0.089%

Price spread now: Phemex against BloFin+0.014%59s7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as 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−$790.787% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.351%−$35 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.014%, 7d avg +0.015%

Together, before fees−0.344%−$34 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. The two prices were read 59 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	357.00	0.0166	pay 0.0166% / 8h	1h 23m	$688K	$236K	20x
Short	Phemex GOOGLUSDT	357.05	0	get 0.0000% / 4h	1h 23m	$2.7M	$88K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$34.84
Price spread: +0.014% → +0.015%: −$0.12
Slippage, 4 orders: −$54.68
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$113.63
Costs to cover: 0.787%
Break-even: never at this rate

Slippage from BloFin: live order book, 63 min ago; Phemex: live order book, 5 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, 63 min ago	0.56 bp	6.6 bp −$7	7.9 bp −$79	16.5 bp −$1,646	doesn't fit
Sell Phemex live order book, 5 min ago	0.98 bp	30.1 bp −$30	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
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.60	−0.112%	$511K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	356.96	−0.011%	$13.6M	$13.0M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.88	−0.034%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.04	+0.011%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	356.93	−0.019%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.92	−0.022%	$23K	$448K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.01	+0.003%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.76	−0.067%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.06	+0.017%	$114K	$211K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	357.05	+0.014%	$2.7M	$88K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0019%	1h	356.70	−0.084%	$144K	$46K	10x	as long as short
Aster GOOGLUSDT	+0.0023%	8h	357.08	+0.024%	$365K	$424K	20x	as long as short
Nado GOOGL-PERP	+0.0026%	1h	356.83	−0.047%	$549K	$92K	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.97	−0.008%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.034%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0038%	1h	356.96	−0.011%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.70	−0.084%	$207K	$278K	10x	as long as short
Binance GOOGLUSDT	+0.0044%	8h	357.00	0.000%	$72.0M	$143.8M	50x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.10	+0.028%	—	$5K	25x	as long as short
Extended GOOGL-USD	+0.0048%	1h	356.92	−0.021%	$423K	$1.2M	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.82	−0.050%	$98.0M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.74	−0.073%	$684K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.81	−0.053%	$154	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.60	−0.112%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0053%	8h	356.97	−0.008%	$293	$253	5x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	356.80	−0.056%	$33K	—	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.86	−0.039%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.79	−0.059%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.59	−0.115%	$3.0M	$101K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.82	−0.050%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.82	−0.050%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.86	−0.041%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0120%	1h	356.99	−0.003%	$2.0M	$1.3M	20x	as long as short
Bybit GOOGLUSDT	+0.0149%	8h	357.02	+0.006%	$11.5M	$7.9M	100x	as long as short
BloFin GOOGL-USDTlong	+0.0166%	8h	357.00	long leg	$688K	$236K	20x
edgeX GOOGLUSDC	+0.0929%	4h	356.89	−0.032%	$208K	$1.2M	10x	as long as short