Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.016%

Price spread now: Coinbase International against Orderly−0.118%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Coinbase International is 0.118% cheaper against Orderly than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GOOGL_USDC	356.21	0.0100	pay 0.0100% / 8h	1h 59m	$10K	$10K	20x
Short	Coinbase International GOOGL-PERP-INTX	355.79	−0.0032	pay 0.0004% / 1h	59m 58s	$523K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$27.72
Price spread: −0.118% → 0.000%: −$11.79
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$55.51
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 3 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 3 min ago	2.81 bp	8.8 bp −$9	11.8 bp −$118	doesn't fit	doesn't fit

Orderly: 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-INTXshort	−0.0032%	1h	355.79	−0.118%	$523K	$1.1M	10x
Hotstuff GOOGL-PERP	0.0000%	1h	356.06	−0.042%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.15	−0.017%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	356.29	+0.023%	$4.6M	$2.5M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.19	−0.006%	$23K	$507K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.30	+0.025%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.41	+0.056%	$114K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.28	+0.020%	$2.7M	$64K	10x	as long as short
Bybit GOOGLUSDT	+0.0002%	8h	356.37	+0.045%	$11.5M	$7.7M	100x	as long as short
Aster GOOGLUSDT	+0.0009%	8h	356.42	+0.060%	$362K	$455K	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0017%	1h	356.09	−0.032%	$144K	$55K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.29	+0.022%	$1.4M	$2.6M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	356.25	+0.012%	$422K	$1.6M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.255%	$128K	$45K	30x	as long as short
Binance GOOGLUSDT	+0.0034%	8h	356.30	+0.024%	$72.9M	$141.8M	50x	as long as short
QFEX GOOGL-USD	+0.0043%	1h	356.24	+0.008%	$1.3M	$4.8M	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.19	−0.006%	—	$5K	25x	as long as short
OKX GOOGL-USDT-SWAP	+0.0050%	8h	356.34	+0.036%	$13.8M	$12.9M	50x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.07	−0.039%	$98.0M	$25.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.08	−0.036%	$683K	$438K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.09	−0.034%	$190	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	355.99	−0.062%	$2.3M	$5.0M	15x	as long as short
edgeX GOOGLUSDC	+0.0052%	4h	356.27	+0.017%	$208K	$1.2M	10x	as long as short
Bitget GOOGLUSDT	+0.0058%	8h	356.33	+0.034%	$16.9M	$9.3M	100x	as long as short
Arcus GOOGL-USD	+0.0071%	1h	356.09	−0.034%	$202K	$270K	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0078%	8h	356.29	+0.023%	$292	$253	5x	as long as short
Nado GOOGL-PERP	+0.0099%	1h	355.94	−0.075%	$556K	$81K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	355.91	−0.083%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	355.84	−0.104%	$3.0M	$68K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	355.88	−0.093%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	356.21	long leg	$10K	$10K	20x
Aevo GOOGL-PERP	+0.0104%	1h	356.23	+0.004%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	355.95	−0.073%	$137K	$48K	20x	as long as short
BloFin GOOGL-USDT	+0.0125%	8h	356.15	−0.017%	$690K	$235K	20x	as long as short
Lighter GOOGL	+0.0208%	1h	356.30	+0.025%	$2.0M	$1.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0284%	1h	356.19	−0.006%	$22K	$151K	10x	as long as short