Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against Orderly+0.064%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 Phemex

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

The price spread pays, funding is against you. Phemex is 0.064% dearer against Orderly than usual: you sell high and buy low (spread +0.064% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GOOGL_USDC	357.05	0.0100	pay 0.0100% / 8h	7h 19m	$10K	$11K	20x
Short	Phemex GOOGLUSDT	357.28	0	get 0.0000% / 4h	3h 19m	$2.7M	$92K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$21
Price spread: +0.064% → 0.000%: $6.44
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$32.56
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: 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 Orderly no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	1.40 bp	29.6 bp −$30	doesn't fit	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-INTX	−0.0080%	1h	356.42	−0.176%	$513K	$1.1M	10x	as long as short
Aster GOOGLUSDT	0.0000%	8h	357.08	+0.009%	$367K	$423K	20x	as long as short
Extended GOOGL-USD	0.0000%	1h	357.21	+0.045%	$424K	$2.5M	20x	as long as short
Binance GOOGLUSDT	0.0000%	8h	357.30	+0.070%	$72.3M	$142.1M	50x	as long as short
Bybit GOOGLUSDT	0.0000%	8h	357.28	+0.064%	$11.5M	$7.4M	100x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.30	+0.070%	$13.5M	$13.3M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.10	+0.014%	$3.6M	$7.1M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.40	+0.098%	$17.3M	$9.7M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.07	+0.007%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.05	0.000%	$23K	$442K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX GOOGL-USDT	0.0000%	8h	357.29	+0.067%	$1K	$3.9M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.35	+0.084%	$115K	$209K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	357.28	+0.064%	$2.7M	$92K	10x
edgeX GOOGLUSDC	+0.0010%	4h	356.96	−0.024%	$208K	$1.2M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0028%	1h	356.86	−0.054%	$144K	$44K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.19	+0.039%	$1.4M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.020%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	357.19	+0.039%	$1.3M	$4.1M	10x	as long as short
Hotstuff GOOGL-PERP	+0.0040%	1h	356.90	−0.042%	$33K	—	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.00	−0.014%	$209K	$282K	10x	as long as short
Nado GOOGL-PERP	+0.0045%	1h	356.97	−0.022%	$549K	$88K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.28	+0.064%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.00	−0.014%	$98.1M	$21.3M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.85	−0.056%	$685K	$414K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.03	−0.006%	$125	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.08	+0.008%	$2.3M	$4.0M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0057%	8h	357.13	+0.022%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0061%	8h	356.79	−0.073%	$3.0M	$160K	20x	as long as short
BloFin GOOGL-USDT	+0.0062%	8h	357.36	+0.087%	$691K	$234K	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.68	−0.104%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.91	−0.039%	$42K	$25K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.94	−0.031%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	357.05	long leg	$10K	$11K	20x
Aevo GOOGL-PERP	+0.0104%	1h	357.01	−0.011%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0192%	1h	357.16	+0.031%	$2.0M	$1.3M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0394%	1h	357.14	+0.025%	$24K	$149K	10x	as long as short