Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0109%/8h= +11.9% APRpaid last 24h +0.035%

Price spread now: Phoenix against GRVT−0.080%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on GRVT Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.163%+$16 on $10k

Price spread, last 3 days (all we have)+0.038%+$4 · spread now −0.080%, 7d avg −0.061%

Together, before fees+0.201%+ Points / potential airdropGRVT: Active · farm board+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.061%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT GOOGL_USDT_Perp	356.60	0.0048	pay 0.0048% / 8h	25m 07s	$23K	$472K	10x
Short	Phoenix GOOGL	356.31	0.0157	get 0.0020% / 1h	25m 07s	$137K	$48K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.080%Rate

Funding earned: $22.9
Price spread: −0.080% → −0.061%: −$1.99
Slippage, 4 orders: −$18.19
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$13.28
Costs to cover: 0.342%
Break-even: 11.1 days

Slippage from GRVT: live order book, 53 min ago; Phoenix: live order book, 45 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, 53 min ago	1.96 bp	9.6 bp −$10	13.0 bp −$130	doesn't fit	doesn't fit
Sell Phoenix live order book, 45 min ago	3.09 bp	9.1 bp −$9	19.2 bp −$192	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	0.0000%	1h	356.32	−0.078%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.45	−0.041%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.57	−0.008%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.71	+0.032%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.66	+0.018%	$2.7M	$66K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0008%	1h	356.40	−0.055%	$530K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0017%	1h	356.38	−0.060%	$144K	$54K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.60	+0.001%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.147%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.47	−0.036%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT GOOGL_USDT_Perplong	+0.0048%	8h	356.60	long leg	$23K	$472K	10x
Polymarket Perps GOOG-USD	+0.0050%	1h	356.32	−0.078%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.31	−0.080%	$182	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.10	−0.139%	$2.3M	$4.9M	15x	as long as short
tradeXYZ xyz:GOOGL	+0.0055%	1h	356.34	−0.072%	$98.9M	$25.2M	20x	as long as short
Variational Omni GOOGL	+0.0060%	8h	356.59	−0.001%	$4.7M	$2.6M	—	as long as short
QFEX GOOGL-USD	+0.0060%	1h	356.51	−0.024%	$1.3M	$4.9M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0092%	8h	356.45	−0.041%	$292	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.19	−0.113%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.31	−0.080%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.32	−0.078%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.46	−0.038%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.49	−0.030%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0110%	8h	356.71	+0.031%	$363K	$455K	20x	as long as short
Nado GOOGL-PERP	+0.0116%	1h	356.24	−0.101%	$559K	$82K	20x	as long as short
Bybit GOOGLUSDT	+0.0116%	8h	356.65	+0.015%	$11.5M	$7.8M	100x	as long as short
Bitget GOOGLUSDT	+0.0127%	8h	356.62	+0.006%	$16.8M	$9.3M	100x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.51	−0.023%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0132%	8h	356.59	−0.002%	$73.1M	$142.9M	50x	as long as short
Phoenix GOOGLshort	+0.0157%	1h	356.31	−0.080%	$137K	$48K	20x
OKX GOOGL-USDT-SWAP	+0.0169%	8h	356.67	+0.020%	$13.9M	$12.9M	50x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0227%	1h	356.47	−0.036%	$23K	$152K	10x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.33	−0.075%	$202K	$271K	10x	as long as short
BloFin GOOGL-USDT	+0.0252%	8h	356.63	+0.009%	$694K	$236K	20x	as long as short
Lighter GOOGL	+0.0288%	1h	356.58	−0.005%	$2.1M	$1.1M	20x	as long as short
edgeX GOOGLUSDC	+0.0842%	4h	356.48	−0.033%	$210K	$1.2M	10x	as long as short