Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h +0.026%

Price spread now: Deribit against Phemex−0.121%7-day average −0.069% · 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−$83as in the Price arb table

costs, in and out, $10k−$780.783% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.158%+$16 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.121%, 7d avg −0.069%

Together, before fees+0.198%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.052% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.069%). Swap the legs. Mind the row above: over the last 5 days funding on this pair paid +0.158%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	356.66	0	get 0.0000% / 4h	3h 27m	$2.7M	$66K	10x
Short	Deribit GOOGL_USDC-PERPETUAL	356.23	−0.0031	pay 0.0004% / 1h	27m 06s	$23K	$153K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.121%Rate

Funding earned: −$6.43
Price spread: −0.121% → −0.069%: −$5.2
Slippage, 4 orders: −$59.29
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$89.93
Costs to cover: 0.783%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Deribit: 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, 2 min ago	1.54 bp	31.9 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 46 min ago	0.14 bp	3.6 bp −$4	7.2 bp −$72	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
Deribit GOOGL_USDC-PERPETUALshort	−0.0031%	1h	356.23	−0.121%	$23K	$153K	10x
Hotstuff GOOGL-PERP	0.0000%	1h	356.36	−0.084%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.45	−0.059%	$3.6M	$7.5M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.41	−0.070%	$23K	$462K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.53	−0.036%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.63	−0.008%	$115K	$225K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	356.66	long leg	$2.7M	$66K	10x
Aftermath Perps GOOGLUSD	+0.0014%	1h	356.20	−0.129%	$144K	$52K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.53	−0.036%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	355.85	−0.227%	$528K	$1.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.129%	$128K	$45K	30x	as long as short
Lighter GOOGL	+0.0040%	1h	356.51	−0.042%	$2.1M	$1.1M	20x	as long as short
Nado GOOGL-PERP	+0.0041%	1h	356.38	−0.079%	$558K	$79K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.54	−0.034%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.31	−0.098%	$98.3M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.31	−0.098%	$683K	$441K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.35	−0.087%	$171	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.15	−0.143%	$2.2M	$4.8M	15x	as long as short
Variational Omni GOOGL	+0.0053%	8h	356.39	−0.076%	$4.8M	$2.3M	—	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.48	−0.050%	$1.3M	$4.7M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0078%	8h	356.52	−0.040%	$292	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0082%	8h	356.57	−0.025%	$17.0M	$9.2M	100x	as long as short
Aster GOOGLUSDT	+0.0094%	8h	356.66	+0.001%	$365K	$457K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.30	−0.100%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.10	−0.157%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.35	−0.087%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.36	−0.084%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.39	−0.076%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0104%	8h	356.60	−0.017%	$11.5M	$7.7M	100x	as long as short
Extended GOOGL-USD	+0.0112%	1h	356.45	−0.059%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0116%	8h	356.52	−0.038%	$72.9M	$142.2M	50x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.27	−0.109%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0192%	8h	356.66	0.000%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0236%	8h	356.63	−0.008%	$690K	$234K	20x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.28	−0.107%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0636%	4h	356.49	−0.048%	$209K	$1.2M	10x	as long as short