Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against Ondo Perps+0.101%7-day average +0.122% · you sell dearer than you buy

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

Long on Ondo Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now +0.101%, 7d avg +0.122%

Together, before fees−0.064%+ Points / potential airdropOndo Perps: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.021% cheaper against Ondo Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.122%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps GOOGL-USD.P	356.83	0.0050	pay 0.0006% / 1h	49m 28s	$2.3M	$4.8M	15x
Short	Phemex GOOGLUSDT	357.19	0	get 0.0000% / 4h	49m 28s	$2.7M	$88K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Ondo Perps. 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 Ondo PerpsbpFee PhemexbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$10.58
Price spread: +0.101% → +0.122%: −$2.14
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$29.73
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Phemex: 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 Phemex live order book, 4 min ago	1.40 bp	32.2 bp −$32	doesn't fit	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
Coinbase International GOOGL-PERP-INTX	−0.0048%	1h	356.60	−0.064%	$511K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0004%	1h	357.02	+0.055%	$549K	$91K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.23	+0.112%	$13.6M	$12.9M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.09	+0.073%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.18	+0.098%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.10	+0.074%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.13	+0.085%	$23K	$450K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.25	+0.118%	$2K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.99	+0.045%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.29	+0.129%	$115K	$210K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDTshort	0.0000%	4h	357.19	+0.101%	$2.7M	$88K	10x
Aster GOOGLUSDT	+0.0008%	8h	357.29	+0.128%	$365K	$424K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0008%	1h	357.06	+0.064%	$33K	—	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.08	+0.070%	$144K	$45K	10x	as long as short
Binance GOOGLUSDT	+0.0030%	8h	357.25	+0.117%	$72.0M	$143.5M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.15	+0.090%	$1.3M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.15	+0.088%	$427K	$2.2M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.081%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.14	+0.087%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.90	+0.020%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.30	+0.132%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.08	+0.070%	$98.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.94	+0.031%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.03	+0.056%	$132	$46K	10x	as long as short
Ondo Perps GOOGL-USD.Plong	+0.0050%	1h	356.83	long leg	$2.3M	$4.8M	15x
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.16	+0.092%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0067%	8h	356.81	−0.006%	$3.0M	$101K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.97	+0.040%	$42K	$37K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.91	+0.022%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.08	+0.070%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.10	+0.076%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0109%	8h	357.25	+0.118%	$11.5M	$7.9M	100x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.11	+0.078%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0120%	8h	357.13	+0.084%	$689K	$236K	20x	as long as short
Lighter GOOGL	+0.0128%	1h	357.21	+0.106%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0249%	4h	357.08	+0.070%	$208K	$1.2M	10x	as long as short