Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Phemex−0.118%7-day average −0.123% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now −0.118%, 7d avg −0.123%

Together, before fees+0.050%+ Points / potential airdropOndo Perps: Active · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.123%, so right now this pair is about funding alone: +$2 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	356.73	0	get 0.0000% / 4h	3h 52m	$2.7M	$66K	10x
Short	Ondo Perps GOOGL-USD.P	356.31	0.0050	get 0.0006% / 1h	52m 29s	$2.3M	$4.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.118%Rate

Funding earned: $10.58
Price spread: −0.118% → −0.123%: $0.52
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$5.9
Costs to cover: 0.170%
Break-even: 10.9 days

Slippage unknown: Phemex: live order book, 1 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 1 min ago	2.10 bp	25.1 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	356.70	−0.008%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.82	+0.025%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.54	−0.053%	$23K	$153K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.97	+0.067%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	356.73	long leg	$2.7M	$66K	10x
Aftermath Perps GOOGLUSD	+0.0018%	1h	356.31	−0.118%	$144K	$53K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.87	+0.039%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	356.24	−0.137%	$530K	$1.1M	10x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.109%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.75	+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	356.51	−0.062%	$98.2M	$24.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.55	−0.050%	$684K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.42	−0.087%	$178	$46K	10x	as long as short
Ondo Perps GOOGL-USD.Pshort	+0.0050%	1h	356.31	−0.118%	$2.3M	$4.9M	15x
QFEX GOOGL-USD	+0.0064%	1h	356.75	+0.006%	$1.3M	$4.8M	10x	as long as short
Hotstuff GOOGL-PERP	+0.0064%	1h	356.52	−0.059%	$33K	—	20x	as long as short
Variational Omni GOOGL	+0.0064%	8h	356.63	−0.029%	$4.8M	$2.7M	—	as long as short
Paradex GOOGL-USD-PERP	+0.0099%	8h	356.77	+0.012%	$293	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.49	−0.068%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.39	−0.095%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.33	−0.112%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.71	−0.006%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.60	−0.036%	$25K	—	10x	as long as short
Nado GOOGL-PERP	+0.0109%	1h	356.58	−0.043%	$560K	$81K	20x	as long as short
Aster GOOGLUSDT	+0.0114%	8h	356.83	+0.028%	$365K	$457K	20x	as long as short
Binance GOOGLUSDT	+0.0134%	8h	356.84	+0.031%	$73.2M	$142.6M	50x	as long as short
Extended GOOGL-USD	+0.0136%	1h	356.75	+0.005%	$421K	$1.6M	20x	as long as short
Bitget GOOGLUSDT	+0.0144%	8h	356.77	+0.011%	$16.9M	$9.1M	100x	as long as short
GRVT GOOGL_USDT_Perp	+0.0144%	8h	356.66	−0.020%	$23K	$472K	10x	as long as short
Lighter GOOGL	+0.0152%	1h	356.80	+0.020%	$2.1M	$1.1M	20x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.56	−0.048%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0200%	8h	356.86	+0.036%	$13.8M	$12.8M	50x	as long as short
BloFin GOOGL-USDT	+0.0254%	8h	356.77	+0.011%	$688K	$235K	20x	as long as short
Bybit GOOGLUSDT	+0.0286%	8h	356.91	+0.050%	$11.5M	$7.7M	100x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.50	−0.064%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0950%	4h	356.56	−0.047%	$210K	$1.2M	10x	as long as short