Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0276%/8h= +30.3% APRpaid last 24h +0.057%

Price spread now: Bybit against Phemex+0.062%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$820.815% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 3 days (all we have)−0.100%−$10 · spread now +0.062%, 7d avg −0.007%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bybit is 0.069% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.007%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.119% in total (about 6.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	356.69	0	get 0.0000% / 4h	3h 53m	$2.7M	$66K	10x
Short	Bybit GOOGLUSDT	356.91	0.0276	get 0.0276% / 8h	7h 53m	$11.5M	$7.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.062%Rate

Funding earned: $58.03
Price spread: +0.062% → −0.007%: $6.85
Slippage, 4 orders: −$58.52
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$16.64
Costs to cover: 0.815%
Break-even: 9.0 days

Slippage from Phemex: live order book, 5 min ago; Bybit: live order book, 5 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, 5 min ago	0.42 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.28 bp	10.3 bp −$10	23.5 bp −$235	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
Gate GOOGL_USDT	0.0000%	8h	356.66	−0.008%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.56	−0.036%	$2K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.76	+0.020%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	356.69	long leg	$2.7M	$66K	10x
Deribit GOOGL_USDC-PERPETUAL	+0.0003%	1h	356.40	−0.081%	$23K	$152K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0019%	1h	356.28	−0.115%	$144K	$53K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.83	+0.039%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	356.24	−0.126%	$530K	$1.1M	10x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.121%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.71	+0.006%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.53	−0.045%	$98.2M	$24.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.33	−0.101%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.28	−0.115%	$179	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.31	−0.107%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.71	+0.006%	$1.3M	$4.8M	10x	as long as short
Variational Omni GOOGL	+0.0064%	8h	356.63	−0.018%	$4.8M	$2.7M	—	as long as short
Hotstuff GOOGL-PERP	+0.0096%	1h	356.36	−0.093%	$33K	—	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0100%	8h	356.74	+0.013%	$293	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.50	−0.054%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.39	−0.084%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.33	−0.101%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.52	−0.048%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.42	−0.076%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0113%	8h	356.83	+0.039%	$365K	$457K	20x	as long as short
Nado GOOGL-PERP	+0.0116%	1h	356.58	−0.030%	$560K	$81K	20x	as long as short
Binance GOOGLUSDT	+0.0134%	8h	356.81	+0.034%	$73.2M	$142.6M	50x	as long as short
Extended GOOGL-USD	+0.0136%	1h	356.74	+0.015%	$422K	$1.6M	20x	as long as short
Bitget GOOGLUSDT	+0.0142%	8h	356.78	+0.025%	$16.9M	$9.1M	100x	as long as short
GRVT GOOGL_USDT_Perp	+0.0144%	8h	356.66	−0.009%	$23K	$472K	10x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.41	−0.078%	$137K	$48K	20x	as long as short
Lighter GOOGL	+0.0168%	1h	356.76	+0.020%	$2.1M	$1.1M	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0199%	8h	356.87	+0.050%	$13.8M	$12.9M	50x	as long as short
BloFin GOOGL-USDT	+0.0253%	8h	356.61	−0.022%	$688K	$235K	20x	as long as short
Bybit GOOGLUSDTshort	+0.0276%	8h	356.91	+0.062%	$11.5M	$7.7M	100x
Arcus GOOGL-USD	+0.0306%	1h	356.45	−0.067%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0950%	4h	356.56	−0.036%	$210K	$1.2M	10x	as long as short