Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0144%/8h= +15.7% APRpaid last 24h +0.089%

Price spread now: BloFin against Phemex+0.006%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$690.690% of the position

Long on Phemex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.351%+$35 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.006%, 7d avg −0.015%

Together, before fees+0.330%+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.020% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	357.44	0	get 0.0000% / 4h	35m 17s	$2.7M	$88K	10x
Short	BloFin GOOGL-USDT	357.46	0.0144	get 0.0144% / 8h	35m 17s	$687K	$236K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.006%Rate

Funding earned: $30.17
Price spread: +0.006% → −0.015%: $2.04
Slippage, 4 orders: −$45.05
Fee Phemex: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$36.83
Costs to cover: 0.690%
Break-even: 15.5 days

Slippage from Phemex: live order book, 3 min ago; BloFin: live order book, 46 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	0.84 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 46 min ago	0.70 bp	7.3 bp −$7	8.7 bp −$87	16.8 bp −$1,677	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
Coinbase International GOOGL-PERP-INTX	−0.0048%	1h	356.60	−0.235%	$511K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.34	−0.028%	$13.6M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.28	−0.045%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.46	+0.006%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.35	−0.026%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.42	−0.006%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.43	−0.003%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.12	−0.090%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.56	+0.034%	$115K	$210K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	357.44	long leg	$2.7M	$88K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado GOOGL-PERP	+0.0011%	1h	357.26	−0.051%	$549K	$91K	20x	as long as short
Aster GOOGLUSDT	+0.0014%	8h	357.45	+0.003%	$365K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0024%	1h	357.23	−0.058%	$144K	$45K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.38	−0.017%	$1.4M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.33	−0.030%	$427K	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.090%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.36	−0.022%	$1.3M	$4.1M	10x	as long as short
Binance GOOGLUSDT	+0.0036%	8h	357.43	−0.003%	$72.1M	$143.4M	50x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.12	−0.090%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.50	+0.017%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.20	−0.067%	$98.2M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.17	−0.076%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.22	−0.062%	$142	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.03	−0.115%	$2.3M	$4.7M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.38	−0.018%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0064%	8h	356.95	−0.137%	$3.0M	$101K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.17	−0.074%	$42K	$35K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.13	−0.087%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.25	−0.053%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.29	−0.042%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0105%	8h	357.45	+0.003%	$11.5M	$7.9M	100x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.08	−0.101%	$137K	$36K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0120%	1h	357.22	−0.062%	$33K	—	20x	as long as short
BloFin GOOGL-USDTshort	+0.0144%	8h	357.46	+0.006%	$687K	$236K	20x
Lighter GOOGL	+0.0152%	1h	357.44	0.000%	$2.0M	$1.4M	20x	as long as short
edgeX GOOGLUSDC	+0.0627%	4h	357.28	−0.044%	$208K	$1.2M	10x	as long as short