Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.008%

Price spread now: Binance against Injective+0.025%77s7-day average −0.195% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as 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−$310.309% of the position

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 2 days (all we have)−0.021%−$2 · spread now +0.025%, 7d avg −0.195%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 0.220% dearer against Injective than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.195%. 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	Injective GOOGL/USDC PERP	357.12	0.0033	pay 0.0004% / 1h	4m 07s	$128K	$45K	30x
Short	Binance GOOGLUSDT	357.21	0.0069	get 0.0069% / 8h	6h 04m	$72.8M	$141.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +0.025%Rate

Funding earned: $7.46
Price spread: +0.025% → −0.195%: $21.99
Slippage, 4 orders: −$20.89
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$1.46
Costs to cover: 0.309%
Break-even: 8.4 days

Slippage from Injective: live order book, 65 min ago; Binance: live order book, 9 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 Injective live order book, 65 min ago	9.12 bp	9.1 bp −$9	9.1 bp −$91	57274.6 bp −$5.73M	326372.4 bp −$163.19M
Sell Binance live order book, 9 min ago	0.14 bp	5.1 bp −$5	6.6 bp −$66	21.6 bp −$2,160	doesn't fit

GOOGL on 35 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	−0.0142%	1h	356.90	−0.062%	$23K	$154K	10x	as long as short
Nado GOOGL-PERP	−0.0027%	1h	357.08	−0.012%	$557K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.86	−0.073%	$523K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.10	−0.006%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.13	+0.004%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.20	+0.021%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.20	+0.022%	$2K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.33	+0.059%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.26	+0.039%	$2.7M	$73K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0008%	1h	357.05	−0.020%	$144K	$51K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GOOGLUSDT	+0.0020%	8h	357.14	+0.006%	$17.0M	$9.3M	100x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.24	+0.034%	$1.3M	$2.4M	20x	as long as short
Injective GOOGL/USDC PERPlong	+0.0033%	1h	357.12	long leg	$128K	$45K	30x
QFEX GOOGL-USD	+0.0039%	1h	357.10	−0.006%	$1.3M	$4.4M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.95	−0.048%	$202K	$272K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.30	+0.050%	—	$5K	25x	as long as short
Aster GOOGLUSDT	+0.0048%	8h	357.12	0.000%	$365K	$458K	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.04	−0.022%	$98.9M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.91	−0.059%	$684K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.03	−0.025%	$154	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.80	−0.090%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0056%	8h	357.21	+0.026%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0068%	8h	357.23	+0.031%	$11.6M	$7.4M	100x	as long as short
Binance GOOGLUSDTshort	+0.0069%	8h	357.21	+0.025%	$72.8M	$141.3M	50x
Extended GOOGL-USD	+0.0072%	1h	357.13	+0.002%	$421K	$1.8M	20x	as long as short
Lighter GOOGL	+0.0088%	1h	357.26	+0.039%	$2.1M	$1.2M	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	357.02	−0.028%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.00	−0.034%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.83	−0.081%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.00	−0.034%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.08	−0.011%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.06	−0.017%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0154%	8h	357.18	+0.017%	$13.8M	$12.4M	50x	as long as short
Hotstuff GOOGL-PERP	+0.0184%	1h	357.04	−0.022%	$33K	—	20x	as long as short
edgeX GOOGLUSDC	+0.0570%	4h	357.13	+0.001%	$208K	$1.2M	10x	as long as short