Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0411%/8h= +44.9% APRpaid last 24h +0.184%

Price spread now: edgeX against Lighter−0.029%109s7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as 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−$180.182% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.029%, 7d avg −0.007%

Together, before fees−0.111%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.023% cheaper against Lighter than usual: you would sell low and buy high (spread −0.029% now, against its 7-day average of −0.007%). If the spread goes back, that is −$2 on $10k: about 4 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.124%, so the current rate has only just turned in your favour. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.124% in total (about -6.5% 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	357.87	0.0104	pay 0.0013% / 1h	29m 43s	$2.1M	$1.2M	20x
Short	edgeX GOOGLUSDC	357.77	0.0514	get 0.0257% / 4h	1h 29m	$209K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.029%Rate

Funding earned: $86.21
Price spread: −0.029% → −0.007%: −$2.26
Slippage, 4 orders: −$9.15
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $65.79
Costs to cover: 0.182%
Break-even: 1.7 days

Slippage from Lighter: live order book, 2 min ago; edgeX: live order book, 4 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, 2 min ago	0.84 bp	1.0 bp −$1	3.9 bp −$39	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	3.21 bp	8.0 bp −$8	11.3 bp −$113	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	−0.0064%	1h	357.46	−0.115%	$524K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0054%	1h	357.62	−0.070%	$558K	$81K	20x	as long as short
Hotstuff GOOGL-PERP	−0.0032%	1h	357.53	−0.095%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.68	−0.053%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.71	−0.044%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.78	−0.024%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.79	−0.022%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.59	−0.078%	$23K	$154K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.94	+0.020%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.86	−0.003%	$2.7M	$76K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0003%	1h	357.58	−0.081%	$144K	$50K	10x	as long as short
Bybit GOOGLUSDT	+0.0014%	8h	357.95	+0.022%	$11.8M	$7.5M	100x	as long as short
Aster GOOGLUSDT	+0.0020%	8h	357.74	−0.037%	$366K	$458K	20x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.66	−0.059%	$1.3M	$4.3M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.84	−0.008%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.210%	$128K	$45K	30x	as long as short
Extended GOOGL-USD	+0.0040%	1h	357.73	−0.039%	$426K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0040%	8h	357.83	−0.011%	$72.9M	$141.2M	50x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.49	−0.106%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.86	−0.003%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.61	−0.073%	$99.1M	$21.8M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.52	−0.098%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.59	−0.078%	$137	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.56	−0.087%	$2.2M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0053%	8h	357.74	−0.037%	$293	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0076%	8h	357.79	−0.022%	$17.0M	$9.3M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.53	−0.094%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.49	−0.106%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.63	−0.067%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.72	−0.042%	$10K	$10K	20x	as long as short
Lighter GOOGLlong	+0.0104%	1h	357.87	long leg	$2.1M	$1.2M	20x
Aevo GOOGL-PERP	+0.0104%	1h	357.66	−0.059%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.64	−0.064%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0113%	8h	357.78	−0.025%	$13.8M	$12.4M	50x	as long as short
BloFin GOOGL-USDT	+0.0161%	8h	357.69	−0.050%	$697K	$234K	20x	as long as short
edgeX GOOGLUSDCshort	+0.0514%	4h	357.77	−0.029%	$209K	$1.2M	10x