Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0251%/8h= +27.5% APRpaid last 24h +0.051%

Price spread now: BloFin against Deribit+0.079%57s7-day average +0.051% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.279% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.090%+$9 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now +0.079%, 7d avg +0.051%

Together, before fees+0.069%+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and BloFin is 0.028% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.051%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.090% in total (about 7.0% 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	Deribit GOOGL_USDC-PERPETUAL	356.26	0	get 0.0000% / 1h	19m 50s	$22K	$152K	10x
Short	BloFin GOOGL-USDT	356.54	0.0251	get 0.0251% / 8h	19m 50s	$692K	$236K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. 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 DeribitbpFee BloFinbpOrdersPrice spread, now +0.079%Rate

Funding earned: $52.65
Price spread: +0.079% → +0.051%: $2.8
Slippage, 4 orders: −$8.92
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $27.53
Costs to cover: 0.279%
Break-even: 3.3 days

Slippage from Deribit: live order book, 59 min ago; BloFin: live order book, 57 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 Deribit live order book, 59 min ago	0.14 bp	3.6 bp −$4	5.0 bp −$50	doesn't fit	doesn't fit
Sell BloFin live order book, 57 min ago	0.14 bp	6.7 bp −$7	8.1 bp −$81	14.8 bp −$1,477	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	+0.036%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.54	+0.079%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUALlong	0.0000%	1h	356.26	long leg	$22K	$152K	10x
HTX GOOGL-USDT	0.0000%	8h	356.64	+0.107%	$114K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.59	+0.093%	$2.7M	$66K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0008%	1h	356.40	+0.039%	$530K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0017%	1h	356.38	+0.035%	$144K	$54K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.57	+0.087%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.241%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.50	+0.067%	—	$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	+0.084%	$23K	$473K	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.26	0.000%	$98.2M	$25.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.24	−0.006%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.27	+0.003%	$182	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.17	−0.025%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USD	+0.0060%	1h	356.43	+0.048%	$1.3M	$4.9M	10x	as long as short
Variational Omni GOOGL	+0.0061%	8h	356.49	+0.064%	$4.7M	$2.6M	—	as long as short
Paradex GOOGL-USD-PERP	+0.0087%	8h	356.45	+0.054%	$292	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.22	−0.012%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.30	+0.011%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.39	+0.036%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.40	+0.039%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.43	+0.048%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0109%	8h	356.64	+0.107%	$363K	$455K	20x	as long as short
Nado GOOGL-PERP	+0.0109%	1h	356.24	−0.006%	$559K	$81K	20x	as long as short
Bybit GOOGLUSDT	+0.0118%	8h	356.57	+0.087%	$11.5M	$7.8M	100x	as long as short
Bitget GOOGLUSDT	+0.0127%	8h	356.52	+0.073%	$16.8M	$9.3M	100x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.47	+0.060%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0130%	8h	356.54	+0.078%	$73.1M	$142.9M	50x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.31	+0.014%	$137K	$48K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0168%	1h	356.27	+0.003%	$33K	—	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0174%	8h	356.59	+0.093%	$13.9M	$12.8M	50x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.27	+0.003%	$202K	$271K	10x	as long as short
BloFin GOOGL-USDTshort	+0.0251%	8h	356.54	+0.079%	$692K	$236K	20x
Lighter GOOGL	+0.0272%	1h	356.53	+0.076%	$2.1M	$1.1M	20x	as long as short
edgeX GOOGLUSDC	+0.0806%	4h	356.54	+0.080%	$210K	$1.2M	10x	as long as short