Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0193%/8h= −21.2% APRpaid last 24h −0.009%

Price spread now: Aster against Lighter+0.045%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.123%−$12 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.045%, 7d avg +0.020%

Together, before fees−0.073%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.025% dearer against Lighter than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of +0.020%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.123% in total) that is about 34 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.123% in total (about -6.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter GOOGL	356.51	0.0272	pay 0.0034% / 1h	20m 31s	$2.0M	$1.0M	20x
Short	Aster GOOGLUSDT	356.67	0.0079	get 0.0079% / 8h	1h 20m	$362K	$455K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$40.61
Price spread: +0.045% → +0.020%: $2.52
Slippage, 4 orders: −$29.03
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$75.12
Costs to cover: 0.370%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Aster: live order book, 62 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 Lighter live order book, 6 min ago	0.28 bp	0.9 bp −$1	2.9 bp −$29	81.6 bp −$8,160	doesn't fit
Sell Aster live order book, 62 min ago	2.11 bp	8.0 bp −$8	10.8 bp −$108	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
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.19	−0.090%	$530K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.35	−0.045%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.47	−0.011%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.58	+0.020%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.51	0.000%	$2.7M	$64K	10x	as long as short
Variational Omni GOOGL	+0.0008%	8h	356.52	+0.003%	$4.6M	$2.5M	—	as long as short
Aftermath Perps GOOGLUSD	+0.0016%	1h	356.26	−0.071%	$144K	$54K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0026%	8h	356.47	−0.011%	$23K	$484K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.55	+0.011%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.171%	$128K	$45K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOOGL-USD	+0.0045%	1h	356.38	−0.036%	$1.3M	$4.8M	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.40	−0.031%	—	$5K	25x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.24	−0.076%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.25	−0.073%	$182	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.17	−0.095%	$2.3M	$4.9M	15x	as long as short
tradeXYZ xyz:GOOGL	+0.0051%	1h	356.26	−0.070%	$98.1M	$24.9M	20x	as long as short
Bybit GOOGLUSDT	+0.0055%	8h	356.51	0.000%	$11.5M	$7.7M	100x	as long as short
Hotstuff GOOGL-PERP	+0.0064%	1h	356.24	−0.076%	$33K	—	20x	as long as short
Aster GOOGLUSDTshort	+0.0079%	8h	356.67	+0.045%	$362K	$455K	20x
Deribit GOOGL_USDC-PERPETUAL	+0.0087%	1h	356.29	−0.062%	$22K	$151K	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0087%	8h	356.42	−0.025%	$292	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0088%	8h	356.50	−0.003%	$16.9M	$9.2M	100x	as long as short
OKX GOOGL-USDT-SWAP	+0.0095%	8h	356.51	0.000%	$13.8M	$12.8M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.36	−0.042%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.10	−0.115%	$3.0M	$67K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.05	−0.129%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.41	−0.028%	$10K	$10K	20x	as long as short
Binance GOOGLUSDT	+0.0103%	8h	356.47	−0.011%	$73.0M	$142.1M	50x	as long as short
Extended GOOGL-USD	+0.0104%	1h	356.40	−0.031%	$421K	$1.6M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.37	−0.039%	$25K	—	10x	as long as short
Nado GOOGL-PERP	+0.0134%	1h	356.19	−0.089%	$557K	$82K	20x	as long as short
Phoenix GOOGL	+0.0135%	1h	356.36	−0.042%	$137K	$48K	20x	as long as short
Arcus GOOGL-USD	+0.0169%	1h	356.28	−0.065%	$202K	$271K	10x	as long as short
BloFin GOOGL-USDT	+0.0223%	8h	356.54	+0.008%	$691K	$235K	20x	as long as short
Lighter GOOGLlong	+0.0272%	1h	356.51	long leg	$2.0M	$1.0M	20x
edgeX GOOGLUSDC	+0.0988%	4h	356.48	−0.008%	$208K	$1.2M	10x	as long as short