Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0770%/8h= +84.3% APRpaid last 24h +0.182%

Price spread now: edgeX against Lighter RH−0.021%80s7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as 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−$190.194% of the position

Long on Lighter RH Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.021%, 7d avg +0.003%

Together, before fees+0.083%+ Points / potential airdropLighter RH: Points live · edgeX: Active · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.025% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.003%). If the spread goes back, that is −$2 on $10k: about 3 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.056% in total) that is about 3.1 days. The two prices were read 80 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 0.056% in total (about 2.9% 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 RH GOOGL	357.01	0.0032	pay 0.0004% / 1h	15m 55s	$1.3M	$2.1M	20x
Short	edgeX GOOGLUSDC	356.93	0.0802	get 0.0401% / 4h	1h 15m	$208K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter RH. 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 Lighter RHbpFee edgeXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $161.61
Price spread: −0.021% → +0.003%: −$2.49
Slippage, 4 orders: −$10.44
Fee Lighter RH: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $139.68
Costs to cover: 0.194%
Break-even: 0.9 days

Slippage from Lighter RH: live order book, 2 min ago; edgeX: live order book, 3 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 RH live order book, 2 min ago	1.40 bp	1.8 bp −$2	4.9 bp −$49	45.2 bp −$4,522	doesn't fit
Sell edgeX live order book, 3 min ago	3.22 bp	7.9 bp −$8	11.2 bp −$112	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	356.60	−0.115%	$511K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.07	+0.017%	$13.6M	$13.1M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.92	−0.025%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.04	+0.008%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	356.92	−0.024%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.98	−0.009%	$23K	$447K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.05	+0.011%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.90	−0.031%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.15	+0.039%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.09	+0.022%	$2.7M	$88K	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	+0.0018%	1h	356.90	−0.031%	$549K	$92K	20x	as long as short
Aster GOOGLUSDT	+0.0018%	8h	357.14	+0.036%	$365K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0018%	1h	356.86	−0.042%	$144K	$46K	10x	as long as short
Lighter RH GOOGLlong	+0.0032%	1h	357.01	long leg	$1.3M	$2.1M	20x
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.031%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0038%	1h	356.99	−0.006%	$1.3M	$4.2M	10x	as long as short
Binance GOOGLUSDT	+0.0040%	8h	357.03	+0.006%	$72.0M	$143.7M	50x	as long as short
Extended GOOGL-USD	+0.0040%	1h	356.94	−0.021%	$423K	$1.2M	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.75	−0.073%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.15	+0.039%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.86	−0.042%	$98.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.75	−0.073%	$684K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.86	−0.042%	$150	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.67	−0.095%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0052%	8h	357.02	+0.002%	$293	$253	5x	as long as short
Hotstuff GOOGL-PERP	+0.0080%	1h	356.86	−0.042%	$33K	—	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.88	−0.036%	$137K	$36K	20x	as long as short
KuCoin GOOGLUSDTM	+0.0099%	8h	356.59	−0.118%	$3.0M	$100K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.84	−0.048%	$42K	$39K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.81	−0.056%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.88	−0.036%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.91	−0.027%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.04	+0.008%	$2.0M	$1.3M	20x	as long as short
Bybit GOOGLUSDT	+0.0138%	8h	357.08	+0.020%	$11.5M	$7.9M	100x	as long as short
BloFin GOOGL-USDT	+0.0160%	8h	357.04	+0.008%	$687K	$236K	20x	as long as short
edgeX GOOGLUSDCshort	+0.0802%	4h	356.93	−0.021%	$208K	$1.2M	10x