Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0090%/8h= −9.8% APRpaid last 24h −0.010%

Price spread now: Aster against Phoenix+0.154%55s7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.480% of the position

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 4 days (all we have)−0.076%−$8 · spread now +0.154%, 7d avg +0.067%

Together, before fees−0.155%+ Points / potential airdropAster: Stage 5 · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.086% dearer against Phoenix than usual: you sell high and buy low (spread +0.154% now, against its 7-day average of +0.067%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.079% in total) that is about 7.6 days. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOOGL	357.01	0.0090	pay 0.0011% / 1h	52m 31s	$137K	$36K	20x
Short	Aster GOOGLUSDT	357.56	0	get 0.0000% / 8h	7h 52m	$366K	$422K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now +0.154%Rate

Funding earned: −$18.81
Price spread: +0.154% → +0.067%: $8.63
Slippage, 4 orders: −$32.96
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$58.14
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from Phoenix: live order book, 38 min ago; Aster: live order book, 45 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 Phoenix live order book, 38 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	doesn't fit	doesn't fit
Sell Aster live order book, 45 min ago	2.52 bp	7.6 bp −$8	11.2 bp −$112	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
Coinbase International GOOGL-PERP-INTX	−0.0080%	1h	357.25	+0.067%	$512K	$1.1M	10x	as long as short
Hotstuff GOOGL-PERP	−0.0032%	1h	357.04	+0.008%	$33K	—	20x	as long as short
Aster GOOGLUSDTshort	0.0000%	8h	357.56	+0.154%	$366K	$422K	20x
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.50	+0.137%	$13.5M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.41	+0.112%	$3.6M	$7.0M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.62	+0.171%	$17.3M	$9.6M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.23	+0.061%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.24	+0.064%	$23K	$441K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.41	+0.112%	$2K	$3.9M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.60	+0.165%	$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 GOOGLUSDT	0.0000%	4h	357.51	+0.140%	$2.7M	$88K	10x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0002%	1h	357.26	+0.070%	$24K	$157K	10x	as long as short
Extended GOOGL-USD	+0.0016%	1h	357.42	+0.116%	$427K	$2.5M	20x	as long as short
Binance GOOGLUSDT	+0.0017%	8h	357.54	+0.150%	$72.1M	$141.6M	50x	as long as short
Aftermath Perps GOOGLUSD	+0.0028%	1h	357.40	+0.110%	$144K	$44K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.38	+0.104%	$1.4M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.031%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	357.42	+0.115%	$1.3M	$4.1M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.23	+0.062%	$207K	$279K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0045%	8h	357.00	−0.003%	$3.0M	$124K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.50	+0.137%	—	$5K	25x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.15	+0.039%	$685K	$415K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.19	+0.050%	$125	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.94	−0.020%	$2.3M	$4.5M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0052%	8h	357.32	+0.088%	$293	$253	5x	as long as short
Nado GOOGL-PERP	+0.0062%	1h	357.25	+0.066%	$549K	$87K	20x	as long as short
Bybit GOOGLUSDT	+0.0063%	8h	357.51	+0.140%	$11.5M	$7.7M	100x	as long as short
BloFin GOOGL-USDT	+0.0070%	8h	357.51	+0.140%	$689K	$234K	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0074%	1h	357.29	+0.078%	$98.3M	$21.2M	20x	as long as short
Phoenix GOOGLlong	+0.0090%	1h	357.01	long leg	$137K	$36K	20x
Pacifica GOOGL	+0.0100%	1h	357.12	+0.031%	$42K	$25K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.03	+0.006%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.32	+0.087%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.25	+0.068%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0224%	1h	357.41	+0.112%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0618%	4h	357.20	+0.053%	$208K	$1.2M	10x	as long as short