Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Phemex+0.048%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

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

costs, in and out, $10k−$830.830% of the position

Long on Phemex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 4 days (all we have)−0.337%−$34 · spread now +0.048%, 7d avg −0.035%

Together, before fees−0.272%+ Points / potential airdropLighter RH: Points live · farm board−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.082% dearer against Phemex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	356.81	0	get 0.0000% / 4h	3h 21m	$2.7M	$91K	10x
Short	Lighter RH GOOGL	356.98	0.0032	get 0.0004% / 1h	21m 28s	$1.4M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.048%Rate

Funding earned: $6.72
Price spread: +0.048% → −0.035%: $8.24
Slippage, 4 orders: −$71.01
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$68.05
Costs to cover: 0.830%
Break-even: 77.9 days

Slippage from Phemex: live order book, 2 min ago; Lighter RH: 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, 2 min ago	1.40 bp	48.4 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 1 min ago	2.24 bp	2.6 bp −$3	6.0 bp −$60	49.1 bp −$4,911	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	−0.0080%	1h	356.42	−0.109%	$513K	$1.1M	10x	as long as short
Aster GOOGLUSDT	0.0000%	8h	357.14	+0.092%	$367K	$423K	20x	as long as short
Extended GOOGL-USD	0.0000%	1h	356.98	+0.048%	$424K	$2.5M	20x	as long as short
Binance GOOGLUSDT	0.0000%	8h	357.11	+0.084%	$72.3M	$142.1M	50x	as long as short
Bybit GOOGLUSDT	0.0000%	8h	357.08	+0.076%	$11.5M	$7.4M	100x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	356.96	+0.042%	$13.5M	$13.2M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.88	+0.020%	$3.6M	$7.1M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.07	+0.073%	$17.3M	$9.7M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	356.77	−0.012%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.76	−0.014%	$23K	$442K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX GOOGL-USDT	0.0000%	8h	356.97	+0.045%	$1K	$3.9M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.73	−0.022%	$24K	$149K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.01	+0.056%	$114K	$209K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	356.81	long leg	$2.7M	$91K	10x
Hotstuff GOOGL-PERP	+0.0016%	1h	356.83	+0.006%	$33K	—	20x	as long as short
BloFin GOOGL-USDT	+0.0018%	8h	356.76	−0.014%	$688K	$234K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0029%	1h	356.69	−0.035%	$144K	$44K	10x	as long as short
Lighter RH GOOGLshort	+0.0032%	1h	356.98	+0.048%	$1.4M	$1.9M	20x
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.087%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	356.95	+0.039%	$1.3M	$4.1M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.84	+0.008%	$209K	$282K	10x	as long as short
Nado GOOGL-PERP	+0.0043%	1h	356.82	+0.003%	$549K	$88K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.10	+0.081%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.89	+0.022%	$98.1M	$21.3M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.74	−0.020%	$684K	$414K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.59	−0.062%	$123	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.76	−0.014%	$2.3M	$4.0M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0056%	8h	356.96	+0.043%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0059%	8h	356.60	−0.059%	$3.0M	$158K	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.68	−0.036%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.86	+0.014%	$42K	$25K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.73	−0.022%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.99	+0.050%	$10K	$12K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.91	+0.027%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0184%	1h	357.01	+0.056%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0820%	4h	356.71	−0.029%	$208K	$1.2M	10x	as long as short