Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Orderly against Phemex−0.053%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.053% cheaper against Phemex than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	357.14	0	get 0.0000% / 4h	52m 10s	$2.7M	$88K	10x
Short	Orderly PERP_GOOGL_USDC	356.95	0.0100	get 0.0100% / 8h	52m 10s	$10K	$11K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.053%Rate

Funding earned: $21
Price spread: −0.053% → 0.000%: −$5.32
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$2.32
Costs to cover: 0.180%
Break-even: 7.8 days

Slippage unknown: Phemex: live order book, 1 min ago; Orderly: 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	1.40 bp	32.8 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Coinbase International GOOGL-PERP-INTX	−0.0048%	1h	356.60	−0.151%	$511K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0005%	1h	356.87	−0.076%	$549K	$91K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.02	−0.034%	$13.6M	$12.9M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.93	−0.059%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.14	0.000%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.03	−0.031%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.04	−0.027%	$23K	$448K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.08	−0.017%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.73	−0.115%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.17	+0.008%	$115K	$210K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDTlong	0.0000%	4h	357.14	long leg	$2.7M	$88K	10x
Aster GOOGLUSDT	+0.0008%	8h	357.18	+0.010%	$365K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0021%	1h	357.09	−0.014%	$144K	$45K	10x	as long as short
Hotstuff GOOGL-PERP	+0.0024%	1h	356.90	−0.067%	$33K	—	20x	as long as short
Binance GOOGLUSDT	+0.0030%	8h	357.07	−0.020%	$72.0M	$143.5M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.99	−0.042%	$1.3M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	356.98	−0.046%	$425K	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.006%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.02	−0.034%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.85	−0.081%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.15	+0.003%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.87	−0.076%	$98.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.82	−0.090%	$684K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.88	−0.073%	$132	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.68	−0.129%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	356.99	−0.042%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0070%	8h	356.79	−0.098%	$3.0M	$101K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.82	−0.089%	$42K	$37K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.92	−0.062%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDCshort	+0.0100%	8h	356.95	−0.053%	$10K	$11K	20x
Aevo GOOGL-PERP	+0.0104%	1h	356.90	−0.066%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0111%	8h	357.07	−0.020%	$11.5M	$7.9M	100x	as long as short
Phoenix GOOGL	+0.0112%	1h	356.99	−0.042%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0121%	8h	357.10	−0.011%	$689K	$236K	20x	as long as short
Lighter GOOGL	+0.0128%	1h	357.04	−0.028%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0771%	4h	357.05	−0.025%	$208K	$1.2M	10x	as long as short