Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.048%

Price spread now: Lighter against Phemex−0.017%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$550.553% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now −0.017%, 7d avg −0.029%

Together, before fees+0.162%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.029%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

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 53s	$2.7M	$88K	10x
Short	Lighter GOOGL	357.38	0.0152	get 0.0019% / 1h	35m 53s	$2.0M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.017%Rate

Funding earned: $31.92
Price spread: −0.017% → −0.029%: $1.21
Slippage, 4 orders: −$43.34
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.22
Costs to cover: 0.553%
Break-even: 11.9 days

Slippage from Phemex: live order book, 3 min ago; Lighter: live order book, 6 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 Lighter live order book, 6 min ago	0.14 bp	0.1 bp $0	3.5 bp −$35	62.1 bp −$6,213	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	357.26	−0.050%	$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	357.41	−0.008%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.09	−0.098%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.53	+0.025%	$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	357.18	−0.073%	$549K	$91K	20x	as long as short
Aster GOOGLUSDT	+0.0014%	8h	357.43	−0.003%	$365K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0024%	1h	357.26	−0.050%	$144K	$45K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.33	−0.031%	$1.4M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.31	−0.036%	$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	357.25	−0.053%	$1.3M	$4.2M	10x	as long as short
Binance GOOGLUSDT	+0.0036%	8h	357.41	−0.008%	$72.1M	$143.4M	50x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.11	−0.092%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.44	0.000%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.19	−0.070%	$98.2M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.11	−0.092%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.17	−0.076%	$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	357.28	−0.046%	$293	$253	5x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	357.13	−0.087%	$33K	—	20x	as long as short
KuCoin GOOGLUSDTM	+0.0065%	8h	356.90	−0.151%	$3.0M	$101K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.10	−0.094%	$42K	$35K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.17	−0.076%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.21	−0.064%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.21	−0.065%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0106%	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
BloFin GOOGL-USDT	+0.0143%	8h	357.41	−0.008%	$687K	$236K	20x	as long as short
Lighter GOOGLshort	+0.0152%	1h	357.38	−0.017%	$2.0M	$1.4M	20x
edgeX GOOGLUSDC	+0.0777%	4h	357.34	−0.027%	$208K	$1.2M	10x	as long as short