Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0109%/8h= −11.9% APRpaid last 24h −0.057%

Price spread now: Phemex against Bybit+0.022%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$790.792% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now +0.022%, 7d avg +0.007%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GOOGLUSDT	356.58	0.0109	pay 0.0109% / 8h	7h 25m	$11.5M	$7.7M	100x
Short	Phemex GOOGLUSDT	356.66	0	get 0.0000% / 4h	3h 25m	$2.7M	$66K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$22.85
Price spread: +0.022% → +0.007%: $1.55
Slippage, 4 orders: −$56.21
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$100.52
Costs to cover: 0.792%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Phemex: 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	8.8 bp −$9	15.8 bp −$158	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.54 bp	30.0 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
Hotstuff GOOGL-PERP	−0.0032%	1h	356.32	−0.073%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.44	−0.039%	$3.6M	$7.5M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.52	−0.017%	$23K	$452K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.56	−0.006%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.21	−0.104%	$23K	$153K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.62	+0.011%	$115K	$225K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	356.66	+0.022%	$2.7M	$66K	10x
edgeX GOOGLUSDC	+0.0006%	4h	356.49	−0.025%	$209K	$1.2M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0014%	1h	356.24	−0.095%	$144K	$52K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.51	−0.020%	$1.4M	$2.3M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	355.85	−0.205%	$528K	$1.1M	10x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.151%	$128K	$45K	30x	as long as short
Lighter GOOGL	+0.0040%	1h	356.44	−0.039%	$2.1M	$1.1M	20x	as long as short
Nado GOOGL-PERP	+0.0043%	1h	356.29	−0.082%	$557K	$80K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.53	−0.014%	—	$5K	25x	as long as short
Variational Omni GOOGL	+0.0049%	8h	356.48	−0.029%	$4.8M	$2.3M	—	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.34	−0.067%	$98.3M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.28	−0.084%	$683K	$441K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.34	−0.067%	$177	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.15	−0.121%	$2.2M	$4.8M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.43	−0.042%	$1.3M	$4.7M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0077%	8h	356.44	−0.040%	$292	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0080%	8h	356.55	−0.008%	$17.0M	$9.2M	100x	as long as short
Aster GOOGLUSDT	+0.0094%	8h	356.65	+0.021%	$365K	$457K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.25	−0.094%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.10	−0.135%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.30	−0.079%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.35	−0.065%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.37	−0.059%	$25K	—	10x	as long as short
Bybit GOOGLUSDTlong	+0.0109%	8h	356.58	long leg	$11.5M	$7.7M	100x
Extended GOOGL-USD	+0.0112%	1h	356.45	−0.036%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0114%	8h	356.53	−0.014%	$72.9M	$142.0M	50x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.27	−0.087%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0193%	8h	356.64	+0.017%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0236%	8h	356.63	+0.014%	$690K	$234K	20x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.30	−0.079%	$202K	$271K	10x	as long as short