Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.048%

Price spread now: GRVT against Lighter−0.033%48s7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as 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−$150.145% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.199%−$20 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now −0.033%, 7d avg +0.006%

Together, before fees−0.209%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$21 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 GRVT is 0.039% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.006%). Swap the legs. The two prices were read 48 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	356.69	0.0048	pay 0.0006% / 1h	40m 44s	$2.1M	$1.2M	20x
Short	GRVT GOOGL_USDT_Perp	356.57	0	get 0.0000% / 8h	6h 40m	$23K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$10.08
Price spread: −0.033% → +0.006%: −$3.93
Slippage, 4 orders: −$5.52
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$28.53
Costs to cover: 0.145%
Break-even: never at this rate

Slippage from Lighter: live order book, 11 min ago; GRVT: live order book, 27 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, 11 min ago	0.84 bp	0.8 bp −$1	2.6 bp −$26	102.9 bp −$10.3K	doesn't fit
Sell GRVT live order book, 27 min ago	1.40 bp	6.1 bp −$6	10.9 bp −$109	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	356.00	−0.193%	$528K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.66	−0.008%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	356.72	+0.008%	$16.9M	$9.3M	100x	as long as short
GRVT GOOGL_USDT_Perpshort	0.0000%	8h	356.57	−0.033%	$23K	$438K	10x
SunX GOOGL-USDT	0.0000%	8h	356.67	−0.006%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.46	−0.064%	$23K	$153K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.85	+0.045%	$115K	$227K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.72	+0.008%	$2.7M	$67K	10x	as long as short
Hotstuff GOOGL-PERP	+0.0008%	1h	356.57	−0.034%	$33K	—	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0009%	1h	356.29	−0.112%	$144K	$51K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado GOOGL-PERP	+0.0011%	1h	356.56	−0.037%	$556K	$80K	20x	as long as short
Variational Omni GOOGL	+0.0022%	8h	356.66	−0.008%	$4.7M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.73	+0.011%	$1.4M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.121%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	356.57	−0.034%	$1.3M	$4.5M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.39	−0.084%	$202K	$272K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.74	+0.014%	—	$5K	25x	as long as short
Lighter GOOGLlong	+0.0048%	1h	356.69	long leg	$2.1M	$1.2M	20x
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.63	−0.017%	$98.5M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.45	−0.067%	$683K	$433K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.61	−0.022%	$162	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.35	−0.095%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0064%	8h	356.71	+0.004%	$292	$253	5x	as long as short
Aster GOOGLUSDT	+0.0074%	8h	356.59	−0.029%	$364K	$458K	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.47	−0.062%	$137K	$36K	20x	as long as short
Binance GOOGLUSDT	+0.0096%	8h	356.71	+0.006%	$72.7M	$141.5M	50x	as long as short
Extended GOOGL-USD	+0.0096%	1h	356.60	−0.025%	$421K	$1.8M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.46	−0.063%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.28	−0.115%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.36	−0.093%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.54	−0.042%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.56	−0.036%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0108%	8h	356.86	+0.048%	$11.6M	$7.5M	100x	as long as short
OKX GOOGL-USDT-SWAP	+0.0182%	8h	356.82	+0.036%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0215%	8h	356.47	−0.062%	$651K	$234K	20x	as long as short
edgeX GOOGLUSDC	+0.0814%	4h	356.62	−0.019%	$209K	$1.2M	10x	as long as short