Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0545%/8h= −59.7% APRpaid last 24h −0.162%

Price spread now: Phoenix against edgeX−0.020%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now −0.020%, 7d avg −0.047%

Together, before fees+0.105%+ Points / potential airdropedgeX: Active · farm board+$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.027% dearer against edgeX than usual: you sell high and buy low (spread −0.020% now, against its 7-day average of −0.047%): +$3 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 4 hours. Mind the row above: over the last 7 days funding on this pair paid +0.143%, 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 0.143% in total (about 7.5% 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	356.43	0.0635	pay 0.0317% / 4h	2h 44m	$209K	$1.2M	10x
Short	Phoenix GOOGL	356.36	0.0090	get 0.0011% / 1h	44m 08s	$137K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$114.44
Price spread: −0.020% → −0.047%: $2.68
Slippage, 4 orders: −$16.97
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$144.73
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Phoenix: live order book, 16 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	3.37 bp	8.0 bp −$8	11.1 bp −$111	doesn't fit	doesn't fit
Sell Phoenix live order book, 16 min ago	2.53 bp	8.4 bp −$8	17.3 bp −$173	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	−0.0104%	1h	356.47	+0.011%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.00	−0.121%	$528K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.55	+0.033%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	356.57	+0.039%	$16.9M	$9.3M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.45	+0.004%	$23K	$443K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.62	+0.053%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.36	−0.020%	$23K	$153K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.72	+0.081%	$114K	$227K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.56	+0.036%	$2.7M	$67K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0009%	1h	356.23	−0.056%	$144K	$51K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado GOOGL-PERP	+0.0009%	1h	356.39	−0.012%	$556K	$80K	20x	as long as short
Variational Omni GOOGL	+0.0020%	8h	356.45	+0.005%	$4.8M	$2.3M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.60	+0.047%	$1.4M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.193%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	356.48	+0.014%	$1.3M	$4.5M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.30	−0.037%	$202K	$272K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.57	+0.039%	—	$5K	25x	as long as short
Lighter GOOGL	+0.0048%	1h	356.53	+0.028%	$2.1M	$1.1M	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.48	+0.014%	$98.3M	$22.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.34	−0.025%	$683K	$433K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.49	+0.017%	$160	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.23	−0.056%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0063%	8h	356.54	+0.031%	$292	$253	5x	as long as short
Aster GOOGLUSDT	+0.0074%	8h	356.59	+0.046%	$364K	$458K	20x	as long as short
Bybit GOOGLUSDT	+0.0085%	8h	356.75	+0.090%	$11.6M	$7.5M	100x	as long as short
Phoenix GOOGLshort	+0.0090%	1h	356.36	−0.020%	$137K	$36K	20x
Binance GOOGLUSDT	+0.0096%	8h	356.62	+0.053%	$72.7M	$141.5M	50x	as long as short
Extended GOOGL-USD	+0.0096%	1h	356.50	+0.019%	$421K	$1.8M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.33	−0.029%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.14	−0.082%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.25	−0.051%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.43	0.000%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.47	+0.010%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0180%	8h	356.71	+0.078%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0215%	8h	356.47	+0.011%	$651K	$234K	20x	as long as short
edgeX GOOGLUSDClong	+0.0635%	4h	356.43	long leg	$209K	$1.2M	10x