Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.054%

Price spread now: Coinbase International against OKX−0.050%7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.050%, 7d avg −0.139%

Together, before fees−0.069%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.089% dearer against OKX than usual: you sell high and buy low (spread −0.050% now, against its 7-day average of −0.139%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX GOOGL-USDT-SWAP	357.06	0	get 0.0000% / 8h	1h 50m	$13.7M	$12.8M	50x
Short	Coinbase International GOOGL-PERP-INTX	356.88	−0.0024	pay 0.0003% / 1h	50m 10s	$519K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$5.04
Price spread: −0.050% → −0.139%: $8.9
Slippage, 4 orders: −$9.06
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$25.2
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Coinbase International: 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 OKX live order book, 3 min ago	0.14 bp	7.1 bp −$7	11.3 bp −$113	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	1.96 bp	7.7 bp −$8	10.2 bp −$102	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-INTXshort	−0.0024%	1h	356.88	−0.050%	$519K	$1.1M	10x
OKX GOOGL-USDT-SWAPlong	0.0000%	8h	357.06	long leg	$13.7M	$12.8M	50x
Gate GOOGL_USDT	0.0000%	8h	356.98	−0.022%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.21	+0.042%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.10	+0.010%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.18	+0.034%	$24K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.15	+0.025%	$2K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.80	−0.073%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.10	+0.011%	$115K	$212K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.25	+0.053%	$2.7M	$87K	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	+0.0002%	1h	356.93	−0.037%	$554K	$88K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0026%	1h	357.22	+0.045%	$144K	$46K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.06	0.000%	$1.4M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.017%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0038%	1h	357.03	−0.008%	$1.2M	$4.2M	10x	as long as short
Aster GOOGLUSDT	+0.0040%	8h	357.23	+0.047%	$365K	$424K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0040%	1h	356.95	−0.031%	$33K	—	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.89	−0.048%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.20	+0.039%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.90	−0.045%	$98.1M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.95	−0.031%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.90	−0.045%	$158	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.84	−0.062%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0055%	8h	357.06	−0.001%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0061%	8h	357.09	+0.008%	$72.1M	$143.6M	50x	as long as short
Extended GOOGL-USD	+0.0064%	1h	357.03	−0.010%	$422K	$1.2M	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.93	−0.036%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.91	−0.043%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.67	−0.109%	$3.0M	$103K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.99	−0.020%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.90	−0.045%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.00	−0.016%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0176%	1h	357.12	+0.017%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0181%	8h	357.15	+0.025%	$690K	$235K	20x	as long as short
Bybit GOOGLUSDT	+0.0181%	8h	357.12	+0.017%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0703%	4h	357.11	+0.015%	$208K	$1.2M	10x	as long as short