Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0222%/8h= +24.4% APRpaid last 24h +0.043%

Price spread now: Bybit against Coinbase International+0.076%7-day average +0.147% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$8 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.076%, 7d avg +0.147%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.071% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.076% now, against its 7-day average of +0.147%). If the spread goes back, that is −$7 on $10k: about 26 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.075% in total) that is about 6.6 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.075% in total (about 3.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOOGL-PERP-INTX	357.54	−0.0048	get 0.0006% / 1h	41m 01s	$526K	$1.1M	10x
Short	Bybit GOOGLUSDT	357.81	0.0174	get 0.0174% / 8h	4h 41m	$12.0M	$7.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.076%Rate

Funding earned: $46.71
Price spread: +0.076% → +0.147%: −$7.13
Slippage, 4 orders: −$11.14
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $7.44
Costs to cover: 0.321%
Break-even: 5.9 days

Slippage from Coinbase International: live order book, 2 min ago; Bybit: live order book, 2 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 Coinbase International live order book, 2 min ago	2.10 bp	8.3 bp −$8	11.1 bp −$111	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.28 bp	8.0 bp −$8	13.8 bp −$138	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-INTXlong	−0.0048%	1h	357.54	long leg	$526K	$1.1M	10x
Gate GOOGL_USDT	0.0000%	8h	357.64	+0.028%	$3.6M	$7.4M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.71	+0.047%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.78	+0.067%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.77	+0.064%	$2K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.92	+0.106%	$115K	$221K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.85	+0.087%	$2.7M	$86K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0012%	1h	357.63	+0.025%	$144K	$49K	10x	as long as short
Bitget GOOGLUSDT	+0.0020%	8h	357.82	+0.078%	$17.5M	$9.6M	100x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.77	+0.064%	$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	−0.117%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.52	−0.006%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.73	+0.053%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0050%	1h	357.67	+0.036%	$1.3M	$4.2M	10x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.52	−0.006%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.53	−0.003%	$159	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.28	−0.073%	$2.3M	$4.9M	15x	as long as short
Aster GOOGLUSDT	+0.0052%	8h	357.91	+0.103%	$366K	$457K	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0058%	1h	357.52	−0.006%	$24K	$155K	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0060%	1h	357.54	0.000%	$99.1M	$20.7M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0064%	1h	357.52	−0.006%	$33K	—	20x	as long as short
Extended GOOGL-USD	+0.0072%	1h	357.69	+0.041%	$426K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0073%	8h	357.78	+0.067%	$73.1M	$141.3M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.46	−0.021%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.33	−0.059%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.40	−0.039%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.47	−0.020%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.64	+0.028%	$25K	—	10x	as long as short
Nado GOOGL-PERP	+0.0107%	1h	357.46	−0.022%	$558K	$80K	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0108%	8h	357.68	+0.039%	$293	$253	5x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.51	−0.008%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0115%	8h	357.71	+0.048%	$13.8M	$12.4M	50x	as long as short
Bybit GOOGLUSDTshort	+0.0174%	8h	357.81	+0.076%	$12.0M	$7.6M	100x
BloFin GOOGL-USDT	+0.0193%	8h	357.77	+0.064%	$697K	$234K	20x	as long as short
Lighter GOOGL	+0.0304%	1h	357.79	+0.070%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0546%	4h	357.75	+0.058%	$209K	$1.2M	10x	as long as short