Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.048%

Price spread now: Deribit against Bybit−0.089%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.089%, 7d avg −0.063%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.026% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.063%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GOOGLUSDT	357.88	0.0210	pay 0.0210% / 8h	4h 19m	$12.0M	$7.5M	100x
Short	Deribit GOOGL_USDC-PERPETUAL	357.56	0.0086	get 0.0011% / 1h	19m 06s	$24K	$155K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$26.02
Price spread: −0.089% → −0.063%: −$2.59
Slippage, 4 orders: −$9.83
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$56.44
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Deribit: live order book, 39 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, 4 min ago	0.28 bp	7.3 bp −$7	12.0 bp −$120	doesn't fit	doesn't fit
Sell Deribit live order book, 39 min ago	0.14 bp	8.6 bp −$9	11.0 bp −$110	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	−0.0048%	1h	357.54	−0.095%	$526K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.62	−0.073%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.78	−0.028%	$17.4M	$9.6M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.72	−0.045%	$23K	$434K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.77	−0.031%	$719	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.85	−0.008%	$115K	$221K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.80	−0.022%	$2.7M	$86K	10x	as long as short
Variational Omni GOOGL	+0.0004%	8h	357.76	−0.034%	$4.8M	$2.3M	—	as long as short
Aftermath Perps GOOGLUSD	+0.0019%	1h	357.60	−0.079%	$144K	$48K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.77	−0.031%	$1.3M	$2.1M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.212%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.46	−0.117%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.74	−0.039%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0050%	1h	357.66	−0.061%	$1.3M	$4.2M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.53	−0.098%	$99.1M	$20.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.49	−0.109%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.53	−0.098%	$142	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.41	−0.131%	$2.3M	$4.9M	15x	as long as short
Aster GOOGLUSDT	+0.0070%	8h	357.89	+0.003%	$366K	$457K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0080%	1h	357.53	−0.098%	$33K	—	20x	as long as short
Nado GOOGL-PERP	+0.0085%	1h	357.49	−0.108%	$558K	$81K	20x	as long as short
Deribit GOOGL_USDC-PERPETUALshort	+0.0086%	1h	357.56	−0.089%	$24K	$155K	10x
Extended GOOGL-USD	+0.0088%	1h	357.66	−0.063%	$426K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0089%	8h	357.77	−0.030%	$73.0M	$141.2M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.47	−0.116%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.35	−0.148%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.50	−0.106%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.65	−0.064%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.60	−0.077%	$25K	—	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0109%	8h	357.65	−0.063%	$293	$253	5x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.56	−0.089%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0113%	8h	357.73	−0.042%	$13.8M	$12.4M	50x	as long as short
BloFin GOOGL-USDT	+0.0209%	8h	357.77	−0.031%	$694K	$234K	20x	as long as short
Bybit GOOGLUSDTlong	+0.0210%	8h	357.88	long leg	$12.0M	$7.5M	100x
Lighter GOOGL	+0.0280%	1h	357.78	−0.028%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0683%	4h	357.70	−0.050%	$209K	$1.2M	10x	as long as short