Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.034%

Price spread now: Arcus against Phemex−0.109%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$750.753% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.121%+$12 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now −0.109%, 7d avg −0.088%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.021% cheaper against Phemex than usual: you would sell low and buy high (spread −0.109% now, against its 7-day average of −0.088%). If the spread goes back, that is −$2 on $10k: about 42 hours of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.121% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	358.04	0	get 0.0000% / 4h	1h 05m	$2.7M	$81K	10x
Short	Arcus GOOGL-USD	357.65	0.0040	get 0.0005% / 1h	5m 12s	$208K	$277K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phemex. 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 PhemexbpFee ArcusbpOrdersPrice spread, now −0.109%Rate

Funding earned: $8.46
Price spread: −0.109% → −0.088%: −$2.1
Slippage, 4 orders: −$58.82
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$68.96
Costs to cover: 0.753%
Break-even: 64.1 days

Slippage from Phemex: live order book, 3 min ago; Arcus: live order book, 58 min ago.

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 Phemex live order book, 3 min ago	1.68 bp	26.5 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 58 min ago	2.66 bp	9.9 bp −$10	11.9 bp −$119	doesn't fit	doesn't fit

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
Hotstuff GOOGL-PERP	−0.0080%	1h	357.69	−0.098%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.46	−0.162%	$524K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0015%	1h	357.63	−0.114%	$558K	$80K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.84	−0.056%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.92	−0.035%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.95	−0.026%	$23K	$435K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.98	−0.017%	$2K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	358.01	−0.008%	$115K	$222K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	358.04	long leg	$2.7M	$81K	10x
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.63	−0.115%	$144K	$49K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GOOGLUSDT	+0.0024%	8h	357.65	−0.108%	$366K	$457K	20x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.89	−0.042%	$1.3M	$4.3M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.94	−0.028%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.257%	$128K	$45K	30x	as long as short
Arcus GOOGL-USDshort	+0.0040%	1h	357.65	−0.109%	$208K	$277K	10x
Binance GOOGLUSDT	+0.0046%	8h	357.98	−0.017%	$73.1M	$141.3M	50x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.87	−0.047%	—	$5K	25x	as long as short
Extended GOOGL-USD	+0.0048%	1h	357.90	−0.039%	$426K	$1.8M	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.73	−0.087%	$99.1M	$21.1M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.68	−0.101%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.72	−0.089%	$153	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.61	−0.120%	$2.3M	$4.9M	15x	as long as short
Bitget GOOGLUSDT	+0.0062%	8h	357.98	−0.017%	$17.5M	$9.6M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0071%	8h	357.86	−0.050%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0095%	8h	358.12	+0.022%	$12.0M	$7.6M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.84	−0.056%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.48	−0.156%	$3.0M	$67K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.65	−0.109%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.86	−0.050%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.79	−0.070%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0106%	8h	357.91	−0.036%	$13.8M	$12.4M	50x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.80	−0.067%	$138K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0166%	8h	357.99	−0.014%	$697K	$234K	20x	as long as short
Lighter GOOGL	+0.0168%	1h	357.98	−0.017%	$2.1M	$1.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0365%	1h	357.83	−0.059%	$24K	$154K	10x	as long as short
edgeX GOOGLUSDC	+0.0853%	4h	357.90	−0.040%	$209K	$1.2M	10x	as long as short