Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.024%

Price spread now: Lighter against Orderly+0.025%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.025% dearer against Orderly than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GOOGL_USDC	356.35	0.0100	pay 0.0100% / 8h	7h 26m	$10K	$10K	20x
Short	Lighter GOOGL	356.44	0.0040	get 0.0005% / 1h	26m 02s	$2.1M	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$12.6
Price spread: +0.025% → 0.000%: $2.53
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.07
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 6 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 Lighter live order book, 6 min ago	0.14 bp	1.7 bp −$2	3.8 bp −$38	121.9 bp −$12.2K	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
Gate GOOGL_USDT	0.0000%	8h	356.44	+0.025%	$3.6M	$7.5M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.41	+0.017%	$23K	$462K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.56	+0.059%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.21	−0.039%	$23K	$153K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.62	+0.076%	$115K	$225K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.66	+0.087%	$2.7M	$66K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0014%	1h	356.25	−0.027%	$144K	$52K	10x	as long as short
Hotstuff GOOGL-PERP	+0.0024%	1h	356.32	−0.008%	$33K	—	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.50	+0.042%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	355.85	−0.140%	$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 PERP	+0.0033%	1h	357.12	+0.216%	$128K	$45K	30x	as long as short
Lighter GOOGLshort	+0.0040%	1h	356.44	+0.025%	$2.1M	$1.1M	20x
Nado GOOGL-PERP	+0.0042%	1h	356.31	−0.012%	$557K	$79K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.51	+0.045%	—	$5K	25x	as long as short
Variational Omni GOOGL	+0.0049%	8h	356.48	+0.035%	$4.8M	$2.3M	—	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.32	−0.008%	$98.3M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.28	−0.020%	$683K	$441K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.34	−0.003%	$177	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.11	−0.067%	$2.2M	$4.8M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.47	+0.034%	$1.3M	$4.7M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0078%	8h	356.44	+0.024%	$292	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0081%	8h	356.55	+0.056%	$17.0M	$9.2M	100x	as long as short
Aster GOOGLUSDT	+0.0094%	8h	356.65	+0.085%	$365K	$457K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.29	−0.018%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.08	−0.076%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.35	0.000%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	356.35	long leg	$10K	$10K	20x
Aevo GOOGL-PERP	+0.0104%	1h	356.37	+0.005%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0107%	8h	356.58	+0.065%	$11.5M	$7.7M	100x	as long as short
Extended GOOGL-USD	+0.0112%	1h	356.45	+0.029%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0115%	8h	356.53	+0.051%	$72.9M	$142.1M	50x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.27	−0.022%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0192%	8h	356.64	+0.081%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0236%	8h	356.63	+0.079%	$690K	$234K	20x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.29	−0.017%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0636%	4h	356.49	+0.039%	$209K	$1.2M	10x	as long as short