Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.047%

Price spread now: Gate against Injective−0.207%69s7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as 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−$480.481% of the position

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 3 days (all we have)+0.216%+$22 · spread now −0.207%, 7d avg −0.071%

Together, before fees+0.186%+$19 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 Gate is 0.136% cheaper against Injective than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.071%). Swap the legs. The two prices were read 69 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	5m 59s	$128K	$45K	30x
Short	Gate GOOGL_USDT	356.38	0	get 0.0000% / 8h	7h 05m	$3.6M	$7.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.207%Rate

Funding earned: −$7
Price spread: −0.207% → −0.071%: −$13.61
Slippage, 4 orders: −$33.12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$68.76
Costs to cover: 0.481%
Break-even: never at this rate

Slippage from Injective: live order book, 3 min ago; Gate: 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 Injective live order book, 3 min ago	9.12 bp	9.1 bp −$9	9.1 bp −$91	57274.6 bp −$5.73M	326372.4 bp −$163.19M
Sell Gate live order book, 2 min ago	2.24 bp	16.8 bp −$17	26.3 bp −$263	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	−0.0227%	1h	356.07	−0.294%	$23K	$153K	10x	as long as short
Gate GOOGL_USDTshort	0.0000%	8h	356.38	−0.207%	$3.6M	$7.5M	100x
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.43	−0.192%	$23K	$455K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.46	−0.185%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.55	−0.160%	$114K	$226K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.48	−0.179%	$2.7M	$67K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0011%	1h	356.17	−0.265%	$144K	$52K	10x	as long as short
Variational Omni GOOGL	+0.0030%	8h	356.38	−0.207%	$4.8M	$2.3M	—	as long as short
Lighter GOOGL	+0.0032%	1h	356.37	−0.210%	$2.1M	$1.1M	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.48	−0.179%	$1.4M	$2.3M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	355.85	−0.356%	$528K	$1.1M	10x	as long as short
Injective GOOGL/USDC PERPlong	+0.0033%	1h	357.12	long leg	$128K	$45K	30x
Bitget GOOGLUSDT	+0.0035%	8h	356.46	−0.185%	$16.9M	$9.3M	100x	as long as short
Nado GOOGL-PERP	+0.0036%	1h	356.29	−0.232%	$556K	$81K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.47	−0.182%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.26	−0.241%	$98.3M	$22.0M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.23	−0.249%	$683K	$441K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.25	−0.244%	$165	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.15	−0.272%	$2.2M	$4.8M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.33	−0.221%	$1.3M	$4.7M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0068%	8h	356.42	−0.197%	$292	$253	5x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	356.29	−0.232%	$33K	—	20x	as long as short
Bybit GOOGLUSDT	+0.0078%	8h	356.49	−0.176%	$11.5M	$7.5M	100x	as long as short
Aster GOOGLUSDT	+0.0081%	8h	356.55	−0.159%	$364K	$458K	20x	as long as short
edgeX GOOGLUSDC	+0.0082%	4h	356.41	−0.200%	$209K	$1.2M	10x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.23	−0.249%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.04	−0.302%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.24	−0.246%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.27	−0.238%	$10K	$10K	20x	as long as short
Binance GOOGLUSDT	+0.0102%	8h	356.44	−0.190%	$72.7M	$142.1M	50x	as long as short
Extended GOOGL-USD	+0.0104%	1h	356.35	−0.215%	$421K	$1.8M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.30	−0.229%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.27	−0.238%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0184%	8h	356.48	−0.179%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0222%	8h	356.50	−0.174%	$690K	$234K	20x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.23	−0.249%	$202K	$271K	10x	as long as short