Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0226%/8h= +24.7% APRpaid last 24h +0.041%

Price spread now: Bybit against Ondo Perps+0.208%57s7-day average +0.125% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 7 days−0.115%−$12 · spread now +0.208%, 7d avg +0.125%

Together, before fees−0.095%+ Points / potential airdropOndo Perps: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Bybit is 0.083% dearer against Ondo Perps than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.125%. The two prices were read 57 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 0.021% in total (about 1.1% 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	Ondo Perps GOOGL-USD.P	356.17	0.0050	pay 0.0006% / 1h	53m 45s	$2.3M	$4.9M	15x
Short	Bybit GOOGLUSDT	356.91	0.0276	get 0.0276% / 8h	7h 53m	$11.5M	$7.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee BybitbpOrdersPrice spread, now +0.208%Rate

Funding earned: $47.44
Price spread: +0.208% → +0.125%: $8.27
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $39.71
Costs to cover: 0.160%
Break-even: 1.1 days

Slippage unknown: Ondo Perps: no order-book sample; Bybit: live order book, 4 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	0.28 bp	10.3 bp −$10	23.5 bp −$235	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	356.57	+0.112%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.56	+0.109%	$2K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.76	+0.166%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.69	+0.146%	$2.7M	$66K	10x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0003%	1h	356.40	+0.065%	$23K	$152K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0019%	1h	356.28	+0.031%	$144K	$53K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.83	+0.185%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	356.24	+0.020%	$530K	$1.1M	10x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.267%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.51	+0.095%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.53	+0.101%	$98.2M	$24.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.33	+0.045%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.28	+0.031%	$179	$46K	10x	as long as short
Ondo Perps GOOGL-USD.Plong	+0.0050%	1h	356.17	long leg	$2.3M	$4.9M	15x
QFEX GOOGL-USD	+0.0064%	1h	356.49	+0.090%	$1.3M	$4.9M	10x	as long as short
Variational Omni GOOGL	+0.0064%	8h	356.63	+0.128%	$4.8M	$2.7M	—	as long as short
Paradex GOOGL-USD-PERP	+0.0100%	8h	356.74	+0.160%	$293	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.50	+0.092%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.31	+0.039%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.33	+0.045%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.52	+0.098%	$10K	$10K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0104%	1h	356.26	+0.025%	$33K	—	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.42	+0.070%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0113%	8h	356.83	+0.185%	$365K	$457K	20x	as long as short
Nado GOOGL-PERP	+0.0125%	1h	356.29	+0.033%	$559K	$81K	20x	as long as short
Binance GOOGLUSDT	+0.0134%	8h	356.82	+0.182%	$73.2M	$142.6M	50x	as long as short
Extended GOOGL-USD	+0.0136%	1h	356.71	+0.151%	$422K	$1.6M	20x	as long as short
Bitget GOOGLUSDT	+0.0141%	8h	356.77	+0.168%	$16.9M	$9.1M	100x	as long as short
GRVT GOOGL_USDT_Perp	+0.0144%	8h	356.66	+0.137%	$23K	$472K	10x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.41	+0.067%	$137K	$48K	20x	as long as short
Lighter GOOGL	+0.0168%	1h	356.76	+0.166%	$2.1M	$1.1M	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0199%	8h	356.87	+0.197%	$13.8M	$12.9M	50x	as long as short
BloFin GOOGL-USDT	+0.0253%	8h	356.61	+0.124%	$688K	$235K	20x	as long as short
Bybit GOOGLUSDTshort	+0.0276%	8h	356.91	+0.208%	$11.5M	$7.7M	100x
Arcus GOOGL-USD	+0.0306%	1h	356.43	+0.073%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0950%	4h	356.56	+0.110%	$210K	$1.2M	10x	as long as short