Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0030%/8h= +3.2% APRpaid last 24h −0.026%

Price spread now: Phoenix against OKX−0.076%66s7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as 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−$310.307% of the position

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$9 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now −0.076%, 7d avg −0.070%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.070%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 66 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	356.82	0.0105	pay 0.0105% / 8h	1h 08m	$13.9M	$12.9M	50x
Short	Phoenix GOOGL	356.55	0.0135	get 0.0017% / 1h	8m 17s	$137K	$48K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.076%Rate

Funding earned: $6.21
Price spread: −0.076% → −0.070%: −$0.58
Slippage, 4 orders: −$13.67
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$25.04
Costs to cover: 0.307%
Break-even: 35.2 days

Slippage from OKX: live order book, 5 min ago; Phoenix: 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 OKX live order book, 5 min ago	0.14 bp	6.9 bp −$7	11.2 bp −$112	doesn't fit	doesn't fit
Sell Phoenix live order book, 2 min ago	3.09 bp	9.1 bp −$9	19.2 bp −$192	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	356.38	−0.123%	$530K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.68	−0.039%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.83	+0.003%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.93	+0.031%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.77	−0.014%	$2.7M	$64K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0013%	1h	356.30	−0.146%	$144K	$54K	10x	as long as short
edgeX GOOGLUSDC	+0.0014%	4h	356.65	−0.047%	$208K	$1.2M	10x	as long as short
Variational Omni GOOGL	+0.0032%	8h	356.66	−0.046%	$4.6M	$2.5M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.82	0.000%	$1.4M	$2.5M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0032%	1h	356.52	−0.084%	$33K	—	20x	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 PERP	+0.0033%	1h	357.12	+0.084%	$128K	$45K	30x	as long as short
GRVT GOOGL_USDT_Perp	+0.0037%	8h	356.64	−0.050%	$23K	$477K	10x	as long as short
QFEX GOOGL-USD	+0.0045%	1h	356.71	−0.031%	$1.3M	$4.8M	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.69	−0.036%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.54	−0.078%	$98.1M	$24.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.51	−0.087%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.54	−0.078%	$187	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.40	−0.118%	$2.3M	$4.9M	15x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0059%	1h	356.57	−0.070%	$23K	$151K	10x	as long as short
Bybit GOOGLUSDT	+0.0069%	8h	356.85	+0.008%	$11.5M	$7.7M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0088%	8h	356.69	−0.035%	$292	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0093%	8h	356.84	+0.006%	$16.9M	$9.2M	100x	as long as short
Aster GOOGLUSDT	+0.0094%	8h	356.83	+0.003%	$362K	$455K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.68	−0.039%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.37	−0.126%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.36	−0.129%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.67	−0.042%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.67	−0.041%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAPlong	+0.0105%	8h	356.82	long leg	$13.9M	$12.9M	50x
Extended GOOGL-USD	+0.0112%	1h	356.72	−0.028%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0115%	8h	356.80	−0.006%	$73.0M	$142.1M	50x	as long as short
Nado GOOGL-PERP	+0.0128%	1h	356.47	−0.097%	$559K	$82K	20x	as long as short
Phoenix GOOGLshort	+0.0135%	1h	356.55	−0.076%	$137K	$48K	20x
Arcus GOOGL-USD	+0.0169%	1h	356.56	−0.073%	$202K	$271K	10x	as long as short
BloFin GOOGL-USDT	+0.0234%	8h	356.66	−0.045%	$689K	$235K	20x	as long as short
Lighter GOOGL	+0.0272%	1h	356.82	0.000%	$2.0M	$1.0M	20x	as long as short