Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.013%

Price spread now: Phemex against Coinbase International+0.101%7-day average +0.153% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1041.037% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now +0.101%, 7d avg +0.153%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phemex is 0.052% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.153%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOOGL-PERP-INTX	357.67	0.0016	pay 0.0002% / 1h	20m 52s	$522K	$1.1M	10x
Short	Phemex GOOGLUSDT	358.03	0	get 0.0000% / 4h	3h 20m	$2.7M	$85K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$3.36
Price spread: +0.101% → +0.153%: −$5.25
Slippage, 4 orders: −$81.66
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$112.27
Costs to cover: 1.037%
Break-even: never at this rate

Slippage from Coinbase International: 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 Coinbase International live order book, 3 min ago	1.96 bp	9.3 bp −$9	10.7 bp −$107	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.51 bp	48.9 bp −$49	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	−0.0008%	1h	357.79	+0.034%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.92	+0.070%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	358.08	+0.115%	$17.5M	$9.7M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	358.06	+0.109%	$2K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.73	+0.017%	$24K	$155K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	358.00	+0.092%	$115K	$218K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	358.03	+0.101%	$2.7M	$85K	10x
Nado GOOGL-PERP	+0.0012%	1h	357.72	+0.014%	$558K	$86K	20x	as long as short
Coinbase International GOOGL-PERP-INTXlong	+0.0016%	1h	357.67	long leg	$522K	$1.1M	10x
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.66	−0.001%	$144K	$47K	10x	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	+0.0024%	8h	357.91	+0.066%	$23K	$442K	10x	as long as short
Variational Omni GOOGL	+0.0028%	8h	358.00	+0.093%	$4.8M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.99	+0.089%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.154%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.65	−0.006%	$208K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.94	+0.075%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.80	+0.036%	$99.3M	$20.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.74	+0.020%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.79	+0.034%	$147	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.58	−0.025%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0058%	8h	357.91	+0.068%	$293	$253	5x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.92	+0.070%	$1.3M	$4.2M	10x	as long as short
Aster GOOGLUSDT	+0.0084%	8h	357.79	+0.033%	$366K	$426K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0084%	8h	357.98	+0.087%	$13.8M	$12.5M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.93	+0.073%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.46	−0.059%	$3.0M	$104K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.66	−0.003%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.73	+0.017%	$10K	$11K	20x	as long as short
Binance GOOGLUSDT	+0.0104%	8h	358.07	+0.112%	$72.4M	$142.3M	50x	as long as short
Extended GOOGL-USD	+0.0104%	1h	357.96	+0.082%	$419K	$1.4M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.86	+0.054%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0179%	1h	357.77	+0.028%	$138K	$36K	20x	as long as short
Lighter GOOGL	+0.0200%	1h	357.97	+0.084%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0224%	8h	358.02	+0.098%	$693K	$234K	20x	as long as short
Bybit GOOGLUSDT	+0.0238%	8h	358.18	+0.143%	$12.1M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0893%	4h	357.90	+0.064%	$209K	$1.2M	10x	as long as short