Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h +0.011%

Price spread now: Coinbase International against Phemex−0.048%7-day average −0.153% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$800.795% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now −0.048%, 7d avg −0.153%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.105% dearer against Phemex than usual: you sell high and buy low (spread −0.048% now, against its 7-day average of −0.153%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	356.98	0	get 0.0000% / 4h	1h 47m	$2.7M	$87K	10x
Short	Coinbase International GOOGL-PERP-INTX	356.81	−0.0024	pay 0.0003% / 1h	47m 33s	$519K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$5.04
Price spread: −0.048% → −0.153%: $10.53
Slippage, 4 orders: −$57.53
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$74.04
Costs to cover: 0.795%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Coinbase International: live order book, 1 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, 6 min ago	2.10 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	1.96 bp	7.0 bp −$7	10.0 bp −$100	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
Coinbase International GOOGL-PERP-INTXshort	−0.0024%	1h	356.81	−0.048%	$519K	$1.1M	10x
OKX GOOGL-USDT-SWAP	0.0000%	8h	356.97	−0.003%	$13.6M	$12.9M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.87	−0.031%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.07	+0.025%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.10	+0.033%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.16	+0.049%	$24K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.95	−0.008%	$2K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.72	−0.073%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.04	+0.017%	$115K	$212K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	356.98	long leg	$2.7M	$87K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado GOOGL-PERP	+0.0013%	1h	356.82	−0.046%	$549K	$90K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0025%	1h	356.84	−0.040%	$144K	$46K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.95	−0.008%	$1.4M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.039%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0038%	1h	356.97	−0.003%	$1.2M	$4.2M	10x	as long as short
Aster GOOGLUSDT	+0.0038%	8h	357.18	+0.057%	$365K	$424K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0040%	1h	356.81	−0.048%	$33K	—	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.82	−0.045%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.09	+0.031%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.79	−0.053%	$98.1M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.77	−0.059%	$684K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.77	−0.059%	$158	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.59	−0.109%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0055%	8h	357.01	+0.007%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0056%	1h	356.91	−0.019%	$422K	$1.2M	20x	as long as short
Binance GOOGLUSDT	+0.0059%	8h	357.00	+0.005%	$72.0M	$143.7M	50x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.91	−0.020%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.87	−0.030%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.60	−0.106%	$3.0M	$103K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.89	−0.025%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.79	−0.053%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.80	−0.049%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0144%	1h	356.99	+0.003%	$2.0M	$1.3M	20x	as long as short
Bybit GOOGLUSDT	+0.0176%	8h	357.08	+0.028%	$11.9M	$7.5M	100x	as long as short
BloFin GOOGL-USDT	+0.0181%	8h	357.06	+0.022%	$690K	$235K	20x	as long as short
edgeX GOOGLUSDC	+0.0852%	4h	357.03	+0.013%	$208K	$1.2M	10x	as long as short