Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.038%

Price spread now: Phoenix against Gate−0.011%77s7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

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

costs, in and out, $10k−$420.418% of the position

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.141%+$14 on $10k

Price spread, last 4 days (all we have)−0.115%−$12 · spread now −0.011%, 7d avg −0.045%

Together, before fees+0.025%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.034% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.045%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate GOOGL_USDT	357.42	0	get 0.0000% / 8h	3h 52m	$3.6M	$7.3M	100x
Short	Phoenix GOOGL	357.38	0.0179	get 0.0022% / 1h	52m 10s	$137K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now −0.011%Rate

Funding earned: $37.6
Price spread: −0.011% → −0.045%: $3.43
Slippage, 4 orders: −$19.78
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$0.76
Costs to cover: 0.418%
Break-even: 7.1 days

Slippage from Gate: live order book, 1 min ago; Phoenix: live order book, 59 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 Gate live order book, 1 min ago	1.40 bp	10.8 bp −$11	20.7 bp −$207	doesn't fit	doesn't fit
Sell Phoenix live order book, 59 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	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
Gate GOOGL_USDTlong	0.0000%	8h	357.42	long leg	$3.6M	$7.3M	100x
Bitget GOOGLUSDT	0.0000%	8h	357.59	+0.048%	$17.4M	$9.6M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.57	+0.042%	$497	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.69	+0.076%	$115K	$220K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.65	+0.064%	$2.7M	$86K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.36	−0.017%	$524K	$1.1M	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0025%	8h	357.65	+0.064%	$23K	$432K	10x	as long as short
Variational Omni GOOGL	+0.0025%	8h	357.62	+0.057%	$4.8M	$2.3M	—	as long as short
Aftermath Perps GOOGLUSD	+0.0030%	1h	357.69	+0.075%	$144K	$48K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.56	+0.039%	$1.3M	$2.1M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.084%	$128K	$45K	30x	as long as short
Hotstuff GOOGL-PERP	+0.0040%	1h	357.30	−0.034%	$33K	—	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.30	−0.034%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.49	+0.020%	—	$5K	25x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.32	−0.028%	$685K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.30	−0.034%	$141	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.27	−0.042%	$2.3M	$4.8M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.48	+0.017%	$1.3M	$4.2M	10x	as long as short
Nado GOOGL-PERP	+0.0085%	1h	357.21	−0.058%	$557K	$80K	20x	as long as short
Aster GOOGLUSDT	+0.0087%	8h	357.66	+0.068%	$366K	$426K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.53	+0.032%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.16	−0.073%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.38	−0.011%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.23	−0.053%	$10K	$10K	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0103%	1h	357.32	−0.028%	$99.1M	$20.5M	20x	as long as short
Extended GOOGL-USD	+0.0104%	1h	357.44	+0.005%	$423K	$1.8M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.40	−0.007%	$25K	—	10x	as long as short
Binance GOOGLUSDT	+0.0107%	8h	357.54	+0.032%	$72.6M	$141.2M	50x	as long as short
OKX GOOGL-USDT-SWAP	+0.0116%	8h	357.55	+0.036%	$13.8M	$12.4M	50x	as long as short
Paradex GOOGL-USD-PERP	+0.0118%	8h	357.49	+0.019%	$293	$253	5x	as long as short
Phoenix GOOGLshort	+0.0179%	1h	357.38	−0.011%	$137K	$36K	20x
BloFin GOOGL-USDT	+0.0226%	8h	357.68	+0.073%	$694K	$234K	20x	as long as short
Bybit GOOGLUSDT	+0.0244%	8h	357.65	+0.064%	$12.0M	$7.5M	100x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0254%	1h	357.34	−0.022%	$24K	$155K	10x	as long as short
Lighter GOOGL	+0.0344%	1h	357.56	+0.039%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0713%	4h	357.58	+0.044%	$208K	$1.2M	10x	as long as short