Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0624%/8h= −68.3% APRpaid last 24h −0.142%

Price spread now: Lighter against edgeX+0.014%7-day average +0.007% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$170.172% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 7 days−0.006%−$1 · spread now +0.014%, 7d avg +0.007%

Together, before fees+0.094%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$9 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: −$19 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.100%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.100% in total (about 5.2% 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	edgeX GOOGLUSDC	357.16	0.0728	pay 0.0364% / 4h	59m 17s	$208K	$1.2M	10x
Short	Lighter GOOGL	357.21	0.0104	get 0.0013% / 1h	59m 17s	$2.0M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$131.08
Price spread: +0.014% → +0.007%: $0.73
Slippage, 4 orders: −$8.2
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$147.55
Costs to cover: 0.172%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Lighter: 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 edgeX live order book, 5 min ago	3.22 bp	8.0 bp −$8	11.2 bp −$112	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	0.14 bp	0.6 bp −$1	2.7 bp −$27	48.5 bp −$4,851	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	−0.0048%	1h	356.60	−0.156%	$511K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.02	−0.039%	$13.6M	$12.9M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.11	−0.014%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.33	+0.048%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.18	+0.007%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.21	+0.014%	$23K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.26	+0.028%	$1K	$4.0M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.38	+0.062%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.26	+0.028%	$2.7M	$88K	10x	as long as short
Nado GOOGL-PERP	0.0000%	1h	357.09	−0.019%	$549K	$91K	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GOOGLUSDT	+0.0010%	8h	357.29	+0.036%	$365K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0019%	1h	357.02	−0.038%	$144K	$45K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.18	+0.006%	$1.3M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.15	−0.003%	$423K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0032%	8h	357.23	+0.019%	$72.0M	$143.7M	50x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.011%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0038%	1h	357.20	+0.012%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.94	−0.061%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.35	+0.054%	—	$5K	25x	as long as short
Hotstuff GOOGL-PERP	+0.0048%	1h	357.09	−0.019%	$33K	—	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.09	−0.019%	$98.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.98	−0.050%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.08	−0.022%	$141	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.95	−0.058%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0052%	8h	357.21	+0.015%	$293	$253	5x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0058%	1h	357.14	−0.005%	$24K	$156K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0078%	8h	356.71	−0.126%	$3.0M	$100K	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	357.13	−0.008%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.01	−0.040%	$42K	$37K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.04	−0.033%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.11	−0.014%	$10K	$11K	20x	as long as short
Lighter GOOGLshort	+0.0104%	1h	357.21	+0.014%	$2.0M	$1.3M	20x
Aevo GOOGL-PERP	+0.0104%	1h	357.07	−0.025%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0119%	8h	357.21	+0.014%	$11.5M	$7.9M	100x	as long as short
BloFin GOOGL-USDT	+0.0129%	8h	357.30	+0.040%	$688K	$236K	20x	as long as short
edgeX GOOGLUSDClong	+0.0728%	4h	357.16	long leg	$208K	$1.2M	10x