Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0079%/8h= +8.7% APRpaid last 24h +0.008%

Price spread now: Phoenix against Orderly+0.014%66s7-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 Phoenix

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GOOGL_USDC	357.74	0.0100	pay 0.0100% / 8h	3h 26m	$10K	$11K	20x
Short	Phoenix GOOGL	357.79	0.0179	get 0.0022% / 1h	26m 26s	$138K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.014%Rate

Funding earned: $16.6
Price spread: +0.014% → 0.000%: $1.4
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $4.99
Costs to cover: 0.130%
Break-even: 4.9 days

Slippage unknown: Orderly: no order-book sample; Phoenix: live order book, 19 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 Phoenix live order book, 19 min ago	3.08 bp	9.3 bp −$9	20.1 bp −$201	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
Deribit GOOGL_USDC-PERPETUAL	−0.0141%	1h	357.47	−0.075%	$24K	$155K	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.74	0.000%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.73	−0.003%	$17.5M	$9.6M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.84	+0.028%	$2K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.95	+0.059%	$115K	$218K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.96	+0.061%	$2.7M	$85K	10x	as long as short
Nado GOOGL-PERP	+0.0005%	1h	357.69	−0.013%	$558K	$83K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.67	−0.020%	$522K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.65	−0.026%	$144K	$47K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0026%	8h	357.87	+0.036%	$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
Variational Omni GOOGL	+0.0026%	8h	357.87	+0.037%	$4.8M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.88	+0.039%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.173%	$128K	$45K	30x	as long as short
Hotstuff GOOGL-PERP	+0.0040%	1h	357.71	−0.008%	$33K	—	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.55	−0.053%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.88	+0.039%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.70	−0.011%	$99.2M	$20.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.57	−0.048%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.70	−0.011%	$144	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.55	−0.053%	$2.2M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0055%	8h	357.80	+0.016%	$293	$253	5x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.73	−0.003%	$1.3M	$4.2M	10x	as long as short
Aster GOOGLUSDT	+0.0083%	8h	357.71	−0.008%	$366K	$426K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0087%	8h	357.80	+0.017%	$13.8M	$12.4M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.82	+0.022%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.38	−0.101%	$3.0M	$97K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.65	−0.025%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	357.74	long leg	$10K	$11K	20x
Binance GOOGLUSDT	+0.0102%	8h	357.84	+0.029%	$72.3M	$142.0M	50x	as long as short
Extended GOOGL-USD	+0.0104%	1h	357.74	0.000%	$419K	$1.6M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.72	−0.006%	$25K	—	10x	as long as short
Phoenix GOOGLshort	+0.0179%	1h	357.79	+0.014%	$138K	$36K	20x
Lighter GOOGL	+0.0192%	1h	357.83	+0.025%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0223%	8h	357.84	+0.028%	$693K	$234K	20x	as long as short
Bybit GOOGLUSDT	+0.0233%	8h	357.96	+0.061%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0810%	4h	357.81	+0.019%	$209K	$1.2M	10x	as long as short