Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h +0.002%

Price spread now: Coinbase International against GRVT−0.247%7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.356%+$36 · spread now −0.247%, 7d avg −0.139%

Together, before fees+0.359%+ Points / potential airdropGRVT: Active · farm board+$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Coinbase International is 0.108% cheaper against GRVT than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.139%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.003% in total (about 0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT GOOGL_USDT_Perp	358.89	0.0145	pay 0.0145% / 8h	6h 17m	$23K	$447K	10x
Short	Coinbase International GOOGL-PERP-INTX	358.00	−0.0056	pay 0.0007% / 1h	17m 11s	$516K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now −0.247%Rate

Funding earned: −$42.21
Price spread: −0.247% → −0.139%: −$10.76
Slippage, 4 orders: −$11.9
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$83.87
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from GRVT: live order book, 33 min ago; Coinbase International: live order book, 4 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 GRVT live order book, 33 min ago	1.25 bp	6.2 bp −$6	9.7 bp −$97	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	2.23 bp	7.8 bp −$8	11.2 bp −$112	doesn't fit	doesn't fit

GOOGL on 36 exchanges

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-INTXshort	−0.0056%	1h	358.00	−0.247%	$516K	$1.1M	10x
OKX GOOGL-USDT-SWAP	0.0000%	8h	358.97	+0.023%	$13.5M	$13.5M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	358.73	−0.044%	$3.7M	$6.8M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	358.93	+0.012%	$17.5M	$9.4M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	358.85	−0.010%	$5.0M	$2.4M	—	as long as short
SunX GOOGL-USDT	0.0000%	8h	358.96	+0.020%	$1K	$3.7M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	358.99	+0.029%	$115K	$210K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	359.04	+0.043%	$2.7M	$106K	10x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0001%	1h	358.71	−0.049%	$25K	$148K	10x	as long as short
Bybit GOOGLUSDT	+0.0007%	8h	358.87	−0.005%	$11.5M	$7.5M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0030%	1h	358.65	−0.065%	$145K	$43K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	358.84	−0.013%	$1.3M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.492%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	358.94	+0.015%	—	$5K	25x	as long as short
Aster GOOGLUSDT	+0.0046%	8h	358.57	−0.089%	$368K	$420K	20x	as long as short
QFEX GOOGL-USD	+0.0048%	1h	358.80	−0.024%	$1.3M	$4.1M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	358.66	−0.063%	$98.3M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	358.76	−0.035%	$687K	$413K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	358.66	−0.063%	$110	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	358.50	−0.108%	$2.3M	$3.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0062%	8h	358.82	−0.018%	$294	$253	5x	as long as short
Extended GOOGL-USD	+0.0064%	1h	358.82	−0.019%	$424K	$2.4M	20x	as long as short
Binance GOOGLUSDT	+0.0067%	8h	358.92	+0.009%	$73.3M	$141.5M	50x	as long as short
Nado GOOGL-PERP	+0.0080%	1h	358.70	−0.052%	$552K	$81K	20x	as long as short
Arcus GOOGL-USD	+0.0081%	1h	358.69	−0.055%	$211K	$279K	10x	as long as short
Hotstuff GOOGL-PERP	+0.0096%	1h	358.66	−0.063%	$33K	—	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	358.58	−0.085%	$42K	$20K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	358.50	−0.108%	$3.0M	$222K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	358.52	−0.102%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	358.82	−0.019%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	358.76	−0.035%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	358.61	−0.077%	$138K	$36K	20x	as long as short
GRVT GOOGL_USDT_Perplong	+0.0145%	8h	358.89	long leg	$23K	$447K	10x
BloFin GOOGL-USDT	+0.0187%	8h	358.91	+0.006%	$688K	$240K	20x	as long as short
Lighter GOOGL	+0.0192%	1h	358.85	−0.010%	$2.0M	$2.2M	20x	as long as short
edgeX GOOGLUSDC	+0.0260%	4h	358.82	−0.017%	$209K	$1.2M	10x	as long as short