Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.051%

Price spread now: Phemex against Lighter+0.017%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$580.584% of the position

Long on Lighter Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.220%−$22 on $10k

Price spread, last 3 days (all we have)+0.093%+$9 · spread now +0.017%, 7d avg +0.031%

Together, before fees−0.127%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter GOOGL	356.57	0.0264	pay 0.0033% / 1h	16m 49s	$2.1M	$1.1M	20x
Short	Phemex GOOGLUSDT	356.63	0	get 0.0000% / 4h	16m 49s	$2.7M	$66K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$55.44
Price spread: +0.017% → +0.031%: −$1.46
Slippage, 4 orders: −$46.36
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$115.27
Costs to cover: 0.584%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Phemex: 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 Lighter live order book, 5 min ago	0.56 bp	0.8 bp −$1	2.1 bp −$21	68.4 bp −$6,844	doesn't fit
Sell Phemex live order book, 2 min ago	0.42 bp	30.4 bp −$30	doesn't fit	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
Gate GOOGL_USDT	0.0000%	8h	356.46	−0.031%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.61	+0.011%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.76	+0.053%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	356.63	+0.017%	$2.7M	$66K	10x
Coinbase International GOOGL-PERP-INTX	+0.0008%	1h	356.40	−0.048%	$530K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0018%	1h	356.38	−0.053%	$144K	$54K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.60	+0.008%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.154%	$128K	$45K	30x	as long as short
GRVT GOOGL_USDT_Perp	+0.0043%	8h	356.56	−0.003%	$23K	$473K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.52	−0.014%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.31	−0.073%	$98.2M	$25.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.33	−0.067%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.32	−0.070%	$179	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.19	−0.107%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USD	+0.0060%	1h	356.49	−0.022%	$1.3M	$4.9M	10x	as long as short
Variational Omni GOOGL	+0.0061%	8h	356.49	−0.023%	$4.7M	$2.6M	—	as long as short
Paradex GOOGL-USD-PERP	+0.0085%	8h	356.49	−0.022%	$292	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.25	−0.091%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.32	−0.070%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.36	−0.059%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.46	−0.031%	$10K	$10K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0104%	1h	356.32	−0.070%	$33K	—	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.48	−0.025%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0108%	8h	356.68	+0.030%	$363K	$455K	20x	as long as short
Nado GOOGL-PERP	+0.0108%	1h	356.29	−0.078%	$559K	$81K	20x	as long as short
Bybit GOOGLUSDT	+0.0121%	8h	356.66	+0.025%	$11.5M	$7.8M	100x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.53	−0.011%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0129%	8h	356.59	+0.007%	$73.1M	$142.9M	50x	as long as short
Bitget GOOGLUSDT	+0.0129%	8h	356.52	−0.014%	$16.8M	$9.3M	100x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.26	−0.087%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0176%	8h	356.65	+0.022%	$13.9M	$12.8M	50x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0199%	1h	356.43	−0.039%	$23K	$152K	10x	as long as short
BloFin GOOGL-USDT	+0.0249%	8h	356.63	+0.017%	$692K	$236K	20x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.36	−0.059%	$202K	$271K	10x	as long as short
Lighter GOOGLlong	+0.0264%	1h	356.57	long leg	$2.1M	$1.1M	20x
edgeX GOOGLUSDC	+0.0808%	4h	356.50	−0.020%	$210K	$1.2M	10x	as long as short