Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Phemex against Lighter RH−0.011%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.011%, 7d avg +0.035%

Together, before fees+0.065%+ Points / potential airdropLighter RH: Points live · farm board+$7 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 Phemex is 0.046% cheaper against Lighter RH than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH GOOGL	357.78	0.0032	pay 0.0004% / 1h	1m 38s	$1.4M	$1.9M	20x
Short	Phemex GOOGLUSDT	357.74	0	get 0.0000% / 4h	1h 01m	$2.7M	$116K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$6.72
Price spread: −0.011% → +0.035%: −$4.61
Slippage, 4 orders: −$40.71
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$64.04
Costs to cover: 0.527%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; Phemex: live order book, 5 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, 4 min ago	1.82 bp	2.0 bp −$2	4.4 bp −$44	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.96 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit

GOOGL on 36 exchanges

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
Hotstuff GOOGL-PERP	−0.1600%	1h	357.43	−0.098%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0040%	1h	357.33	−0.126%	$530K	$1.2M	10x	as long as short
Bybit GOOGLUSDT	0.0000%	8h	357.77	−0.003%	$11.6M	$7.8M	100x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.81	+0.008%	$13.5M	$13.7M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.65	−0.036%	$3.7M	$6.9M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.84	+0.017%	$17.4M	$9.9M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.72	−0.017%	$5.0M	$2.3M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.74	−0.010%	$12K	$467K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.74	−0.011%	$2K	$3.7M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.90	+0.034%	$115K	$212K	30x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDTshort	0.0000%	4h	357.74	−0.011%	$2.7M	$116K	10x
Aster GOOGLUSDT	+0.0032%	8h	357.78	+0.001%	$367K	$420K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0032%	1h	357.53	−0.070%	$144K	$42K	10x	as long as short
Lighter RH GOOGLlong	+0.0032%	1h	357.78	long leg	$1.4M	$1.9M	20x
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.184%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.68	−0.028%	—	$5K	25x	as long as short
Extended GOOGL-USD	+0.0048%	1h	357.70	−0.021%	$426K	$2.6M	20x	as long as short
Binance GOOGLUSDT	+0.0049%	8h	357.83	+0.014%	$73.0M	$145.9M	50x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.53	−0.070%	$98.0M	$21.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.60	−0.050%	$684K	$440K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.49	−0.081%	$105	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.28	−0.140%	$2.3M	$4.0M	15x	as long as short
QFEX GOOGL-USD	+0.0060%	1h	357.68	−0.028%	$1.2M	$4.1M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0060%	8h	357.62	−0.046%	$293	$253	5x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0086%	1h	357.51	−0.075%	$29K	$151K	10x	as long as short
Nado GOOGL-PERP	+0.0089%	1h	357.45	−0.091%	$553K	$84K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.42	−0.100%	$42K	$20K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.43	−0.098%	$3.0M	$307K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.50	−0.078%	$36K	$17K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.60	−0.050%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.58	−0.056%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.46	−0.089%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0171%	8h	357.79	+0.003%	$693K	$231K	20x	as long as short
Lighter GOOGL	+0.0176%	1h	357.75	−0.008%	$2.0M	$2.2M	20x	as long as short
Arcus GOOGL-USD	+0.0199%	1h	357.57	−0.059%	$212K	$222K	10x	as long as short
edgeX GOOGLUSDC	+0.0331%	4h	357.71	−0.021%	$208K	$1.2M	10x	as long as short