Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0110%/8h= −12.0% APRpaid last 24h −0.049%

Price spread now: Coinbase International against Bybit−0.042%7-day average −0.148% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 3 days (all we have)−0.023%−$2 · spread now −0.042%, 7d avg −0.148%

Together, before fees−0.085%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.106% dearer against Bybit than usual: you sell high and buy low (spread −0.042% now, against its 7-day average of −0.148%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.062% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GOOGLUSDT	356.55	0.0118	pay 0.0118% / 8h	20m 39s	$11.5M	$7.8M	100x
Short	Coinbase International GOOGL-PERP-INTX	356.40	0.0008	get 0.0001% / 1h	20m 39s	$530K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$23.03
Price spread: −0.042% → −0.148%: $10.6
Slippage, 4 orders: −$12.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$46.14
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Coinbase International: live order book, 3 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 Bybit live order book, 3 min ago	0.28 bp	8.6 bp −$9	13.7 bp −$137	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.14 bp	7.9 bp −$8	10.8 bp −$108	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	356.39	−0.045%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.59	+0.011%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.26	−0.081%	$22K	$152K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.65	+0.028%	$114K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.64	+0.025%	$2.7M	$66K	10x	as long as short
Coinbase International GOOGL-PERP-INTXshort	+0.0008%	1h	356.40	−0.042%	$530K	$1.1M	10x
Aftermath Perps GOOGLUSD	+0.0017%	1h	356.37	−0.051%	$144K	$54K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.56	+0.003%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.160%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.49	−0.017%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT GOOGL_USDT_Perp	+0.0047%	8h	356.56	+0.003%	$23K	$473K	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.28	−0.076%	$98.2M	$25.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.27	−0.079%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.27	−0.079%	$182	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.17	−0.107%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USD	+0.0060%	1h	356.43	−0.034%	$1.3M	$4.9M	10x	as long as short
Variational Omni GOOGL	+0.0061%	8h	356.49	−0.018%	$4.7M	$2.6M	—	as long as short
Paradex GOOGL-USD-PERP	+0.0087%	8h	356.45	−0.027%	$292	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.22	−0.093%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.29	−0.073%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.39	−0.045%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.43	−0.034%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.41	−0.040%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0109%	8h	356.66	+0.031%	$363K	$455K	20x	as long as short
Nado GOOGL-PERP	+0.0109%	1h	356.24	−0.088%	$559K	$81K	20x	as long as short
Bybit GOOGLUSDTlong	+0.0118%	8h	356.55	long leg	$11.5M	$7.8M	100x
Bitget GOOGLUSDT	+0.0127%	8h	356.51	−0.011%	$16.8M	$9.3M	100x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.45	−0.029%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0130%	8h	356.52	−0.010%	$73.1M	$142.9M	50x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.31	−0.067%	$137K	$48K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0168%	1h	356.27	−0.079%	$33K	—	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0174%	8h	356.59	+0.011%	$13.9M	$12.8M	50x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.27	−0.079%	$202K	$271K	10x	as long as short
BloFin GOOGL-USDT	+0.0251%	8h	356.54	−0.003%	$692K	$236K	20x	as long as short
Lighter GOOGL	+0.0272%	1h	356.52	−0.008%	$2.1M	$1.1M	20x	as long as short
edgeX GOOGLUSDC	+0.0806%	4h	356.54	−0.002%	$210K	$1.2M	10x	as long as short