Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.037%

Price spread now: Phemex against Extended+0.006%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$890.889% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.006%, 7d avg +0.048%

Together, before fees−0.042%+ Points / potential airdropExtended: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.042% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended GOOGL-USD	357.58	0.0032	pay 0.0004% / 1h	16m 29s	$427K	$2.5M	20x
Short	Phemex GOOGLUSDT	357.60	0	get 0.0000% / 4h	16m 29s	$2.7M	$88K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$6.72
Price spread: +0.006% → +0.048%: −$4.2
Slippage, 4 orders: −$71.91
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$99.83
Costs to cover: 0.889%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Phemex: 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 Extended live order book, 2 min ago	0.14 bp	3.5 bp −$4	9.1 bp −$91	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.12 bp	44.1 bp −$44	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
Deribit GOOGL_USDC-PERPETUAL	−0.0114%	1h	357.31	−0.075%	$24K	$157K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0048%	1h	357.09	−0.137%	$512K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0008%	1h	357.49	−0.024%	$550K	$88K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.67	+0.026%	$13.6M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.50	−0.022%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.67	+0.026%	$17.4M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.51	−0.019%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.56	−0.005%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.67	+0.026%	$1K	$4.0M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.79	+0.059%	$115K	$210K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDTshort	0.0000%	4h	357.60	+0.006%	$2.7M	$88K	10x
Aster GOOGLUSDT	+0.0006%	8h	357.79	+0.060%	$366K	$422K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.38	−0.055%	$144K	$44K	10x	as long as short
Hotstuff GOOGL-PERP	+0.0024%	1h	357.45	−0.036%	$33K	—	20x	as long as short
Binance GOOGLUSDT	+0.0028%	8h	357.67	+0.026%	$72.1M	$143.3M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.58	0.000%	$1.4M	$1.9M	20x	as long as short
Extended GOOGL-USDlong	+0.0032%	1h	357.58	long leg	$427K	$2.5M	20x
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.128%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.58	0.000%	$1.3M	$4.1M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.33	−0.070%	$208K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.78	+0.056%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.45	−0.036%	$98.2M	$21.4M	20x	as long as short
KuCoin GOOGLUSDTM	+0.0050%	8h	357.14	−0.123%	$3.0M	$106K	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.41	−0.047%	$686K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.37	−0.058%	$135	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.19	−0.109%	$2.3M	$4.6M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.62	+0.011%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0084%	8h	357.67	+0.026%	$11.5M	$7.9M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.41	−0.048%	$42K	$26K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.36	−0.061%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.49	−0.025%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.47	−0.029%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.65	+0.020%	$2.0M	$1.4M	20x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.32	−0.072%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0113%	8h	357.61	+0.009%	$688K	$236K	20x	as long as short
edgeX GOOGLUSDC	+0.0159%	4h	357.53	−0.015%	$208K	$1.2M	10x	as long as short