Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Phemex against Deribit+0.056%7-day average +0.070% · 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−$79as in the Price arb table

costs, in and out, $10k−$780.780% of the position

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.147%−$15 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now +0.056%, 7d avg +0.070%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOOGL_USDC-PERPETUAL	356.77	0	get 0.0000% / 1h	48m 50s	$24K	$156K	10x
Short	Phemex GOOGLUSDT	356.97	0	get 0.0000% / 4h	1h 48m	$2.7M	$87K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.070%: −$1.36
Slippage, 4 orders: −$59.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$79.37
Costs to cover: 0.780%
Break-even: never at this rate

Slippage from Deribit: live order book, 60 min ago; Phemex: live order book, 5 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, 60 min ago	0.14 bp	9.2 bp −$9	11.3 bp −$113	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	2.10 bp	32.8 bp −$33	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
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.81	+0.011%	$519K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	356.91	+0.039%	$13.6M	$12.9M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.85	+0.022%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.06	+0.081%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.10	+0.091%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.16	+0.108%	$24K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.09	+0.090%	$2K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUALlong	0.0000%	1h	356.77	long leg	$24K	$156K	10x
HTX GOOGL-USDT	0.0000%	8h	357.14	+0.104%	$115K	$212K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	356.97	+0.056%	$2.7M	$87K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado GOOGL-PERP	+0.0002%	1h	356.93	+0.044%	$554K	$88K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0024%	1h	356.85	+0.022%	$33K	—	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0026%	1h	357.12	+0.098%	$144K	$46K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.89	+0.034%	$1.4M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.098%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0038%	1h	357.01	+0.067%	$1.2M	$4.2M	10x	as long as short
Aster GOOGLUSDT	+0.0040%	8h	357.15	+0.107%	$365K	$424K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.87	+0.028%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.14	+0.104%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.73	−0.011%	$98.1M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.86	+0.025%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.79	+0.006%	$161	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.84	+0.020%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0055%	8h	356.98	+0.060%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0060%	8h	356.98	+0.059%	$72.0M	$143.6M	50x	as long as short
Extended GOOGL-USD	+0.0064%	1h	356.86	+0.024%	$422K	$1.2M	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.91	+0.039%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.85	+0.023%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.61	−0.045%	$3.0M	$103K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.99	+0.062%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.86	+0.025%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.84	+0.020%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0160%	1h	356.93	+0.045%	$2.0M	$1.3M	20x	as long as short
Bybit GOOGLUSDT	+0.0179%	8h	356.97	+0.056%	$11.9M	$7.5M	100x	as long as short
BloFin GOOGL-USDT	+0.0181%	8h	357.06	+0.081%	$690K	$235K	20x	as long as short
edgeX GOOGLUSDC	+0.0703%	4h	357.11	+0.096%	$208K	$1.2M	10x	as long as short