Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h −0.018%

Price spread now: Injective against OKX+0.137%118s7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as 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−$360.355% of the position

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 3 days (all we have)−0.156%−$16 · spread now +0.137%, 7d avg +0.046%

Together, before fees−0.186%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.091% dearer against OKX than usual: you sell high and buy low (spread +0.137% now, against its 7-day average of +0.046%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 46 hours. At the pace of the last 7 days (−0.031% in total) that is about 21 days. The two prices were read 118 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	OKX GOOGL-USDT-SWAP	356.63	0.0192	pay 0.0192% / 8h	7h 29m	$13.8M	$12.7M	50x
Short	Injective GOOGL/USDC PERP	357.12	0.0033	get 0.0004% / 1h	29m 23s	$128K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.137%Rate

Funding earned: −$33.34
Price spread: +0.137% → +0.046%: $9.11
Slippage, 4 orders: −$25.49
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$59.75
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Injective: live order book, 44 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, 4 min ago	0.56 bp	7.6 bp −$8	11.9 bp −$119	doesn't fit	doesn't fit
Sell Injective live order book, 44 min ago	10.37 bp	10.4 bp −$10	10.4 bp −$104	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	356.45	−0.050%	$3.6M	$7.5M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.41	−0.062%	$23K	$462K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.43	−0.056%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.20	−0.121%	$23K	$153K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.46	−0.048%	$114K	$225K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.44	−0.053%	$2.7M	$66K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0014%	1h	356.14	−0.138%	$144K	$52K	10x	as long as short
Lighter GOOGL	+0.0032%	1h	356.47	−0.045%	$2.1M	$1.1M	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.54	−0.025%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	355.85	−0.219%	$528K	$1.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective GOOGL/USDC PERPshort	+0.0033%	1h	357.12	+0.137%	$128K	$45K	30x
Nado GOOGL-PERP	+0.0041%	1h	356.32	−0.086%	$557K	$79K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.53	−0.028%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.35	−0.079%	$98.2M	$22.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.34	−0.081%	$683K	$441K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.22	−0.115%	$172	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.20	−0.121%	$2.2M	$4.8M	15x	as long as short
Variational Omni GOOGL	+0.0053%	8h	356.39	−0.067%	$4.8M	$2.3M	—	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.43	−0.056%	$1.3M	$4.7M	10x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	356.36	−0.076%	$33K	—	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0079%	8h	356.52	−0.032%	$292	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0084%	8h	356.52	−0.031%	$17.0M	$9.2M	100x	as long as short
Aster GOOGLUSDT	+0.0096%	8h	356.70	+0.020%	$365K	$457K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.32	−0.088%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.11	−0.146%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.20	−0.121%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.37	−0.073%	$10K	$10K	20x	as long as short
Bybit GOOGLUSDT	+0.0102%	8h	356.50	−0.036%	$11.5M	$7.7M	100x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.27	−0.101%	$25K	—	10x	as long as short
Binance GOOGLUSDT	+0.0117%	8h	356.57	−0.018%	$72.9M	$142.2M	50x	as long as short
Extended GOOGL-USD	+0.0120%	1h	356.48	−0.041%	$421K	$1.8M	20x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.27	−0.101%	$137K	$48K	20x	as long as short
edgeX GOOGLUSDC	+0.0160%	4h	356.40	−0.064%	$209K	$1.2M	10x	as long as short
OKX GOOGL-USDT-SWAPlong	+0.0192%	8h	356.63	long leg	$13.8M	$12.7M	50x
BloFin GOOGL-USDT	+0.0239%	8h	356.47	−0.045%	$690K	$234K	20x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.22	−0.115%	$202K	$271K	10x	as long as short