Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h +0.038%

Price spread now: BloFin against Lighter−0.017%60s7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2as 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−$150.147% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.130%+$13 on $10k

Price spread, last 4 days (all we have)+0.129%+$13 · spread now −0.017%, 7d avg +0.014%

Together, before fees+0.259%+ Points / potential airdropLighter: Season 3 · farm board+$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BloFin is 0.031% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.014%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.130%, so the current rate has only just turned against you. The two prices were read 60 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	Lighter GOOGL	357.26	0.0328	pay 0.0041% / 1h	47m 47s	$2.0M	$1.3M	20x
Short	BloFin GOOGL-USDT	357.20	0.0229	get 0.0229% / 8h	3h 47m	$693K	$234K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$20.69
Price spread: −0.017% → +0.014%: −$3.09
Slippage, 4 orders: −$2.71
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$38.48
Costs to cover: 0.147%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; BloFin: live order book, 49 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, 4 min ago	0.70 bp	1.0 bp −$1	2.7 bp −$27	82.6 bp −$8,259	doesn't fit
Sell BloFin live order book, 49 min ago	0.14 bp	6.4 bp −$6	7.8 bp −$78	16.1 bp −$1,607	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
Gate GOOGL_USDT	0.0000%	8h	357.18	−0.022%	$3.6M	$7.3M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.28	+0.006%	$17.4M	$9.6M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.25	−0.003%	$922	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.01	−0.070%	$24K	$155K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.30	+0.011%	$115K	$220K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.43	+0.048%	$2.7M	$85K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.36	+0.028%	$524K	$1.1M	10x	as long as short
Variational Omni GOOGL	+0.0029%	8h	357.45	+0.054%	$4.8M	$2.3M	—	as long as short
GRVT GOOGL_USDT_Perp	+0.0030%	8h	357.58	+0.090%	$23K	$432K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0030%	1h	357.13	−0.035%	$144K	$48K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH GOOGL	+0.0032%	1h	357.27	+0.003%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.039%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.12	−0.039%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.31	+0.014%	—	$5K	25x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.08	−0.050%	$685K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.05	−0.059%	$140	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.86	−0.112%	$2.3M	$4.8M	15x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	357.19	−0.020%	$33K	—	20x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.13	−0.036%	$1.3M	$4.2M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0072%	1h	357.06	−0.056%	$99.1M	$20.5M	20x	as long as short
Nado GOOGL-PERP	+0.0076%	1h	357.07	−0.054%	$557K	$80K	20x	as long as short
Aster GOOGLUSDT	+0.0090%	8h	357.49	+0.064%	$366K	$426K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.21	−0.014%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.15	−0.031%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.28	+0.006%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.17	−0.025%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.12	−0.040%	$25K	—	10x	as long as short
Binance GOOGLUSDT	+0.0109%	8h	357.26	−0.001%	$72.5M	$141.4M	50x	as long as short
Extended GOOGL-USD	+0.0112%	1h	357.16	−0.028%	$422K	$1.8M	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0113%	8h	357.17	−0.025%	$13.8M	$12.4M	50x	as long as short
Paradex GOOGL-USD-PERP	+0.0120%	8h	357.19	−0.021%	$293	$253	5x	as long as short
Phoenix GOOGL	+0.0179%	1h	357.38	+0.034%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDTshort	+0.0229%	8h	357.20	−0.017%	$693K	$234K	20x
Bybit GOOGLUSDT	+0.0248%	8h	357.39	+0.036%	$12.0M	$7.5M	100x	as long as short
Lighter GOOGLlong	+0.0328%	1h	357.26	long leg	$2.0M	$1.3M	20x
edgeX GOOGLUSDC	+0.0914%	4h	357.53	+0.075%	$208K	$1.2M	10x	as long as short