Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h +0.015%

Price spread now: Binance against Phoenix+0.101%105s7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as 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−$270.273% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.101%, 7d avg +0.055%

Together, before fees−0.209%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.046% dearer against Phoenix than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of +0.055%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.4 days. The two prices were read 105 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	357.46	0.0112	pay 0.0014% / 1h	21m 47s	$137K	$36K	20x
Short	Binance GOOGLUSDT	357.82	0.0088	get 0.0088% / 8h	4h 21m	$73.0M	$141.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.101%Rate

Funding earned: −$5
Price spread: +0.101% → +0.055%: $4.58
Slippage, 4 orders: −$10.26
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$27.68
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from Phoenix: live order book, 29 min ago; Binance: 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 Phoenix live order book, 29 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.14 bp	5.1 bp −$5	8.1 bp −$81	21.7 bp −$2,175	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	357.54	+0.022%	$526K	$1.1M	10x	as long as short
Hotstuff GOOGL-PERP	0.0000%	1h	357.50	+0.011%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.63	+0.048%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.80	+0.095%	$17.5M	$9.6M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.64	+0.050%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.72	+0.072%	$23K	$434K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.82	+0.101%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.88	+0.117%	$115K	$221K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.80	+0.095%	$2.7M	$86K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0018%	1h	357.59	+0.038%	$144K	$49K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit GOOGL_USDC-PERPETUAL	+0.0030%	1h	357.54	+0.022%	$24K	$155K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.81	+0.098%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.095%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.42	−0.011%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.71	+0.070%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0050%	1h	357.66	+0.056%	$1.3M	$4.2M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.58	+0.034%	$99.1M	$20.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.51	+0.014%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.55	+0.025%	$146	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.41	−0.014%	$2.3M	$4.9M	15x	as long as short
edgeX GOOGLUSDC	+0.0062%	4h	357.64	+0.050%	$209K	$1.2M	10x	as long as short
Aster GOOGLUSDT	+0.0069%	8h	357.92	+0.128%	$366K	$457K	20x	as long as short
Binance GOOGLUSDTshort	+0.0088%	8h	357.82	+0.101%	$73.0M	$141.2M	50x
Extended GOOGL-USD	+0.0088%	1h	357.73	+0.075%	$426K	$1.8M	20x	as long as short
Nado GOOGL-PERP	+0.0089%	1h	357.48	+0.006%	$558K	$81K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.48	+0.007%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.39	−0.020%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.37	−0.025%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.66	+0.056%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.65	+0.053%	$25K	—	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0110%	8h	357.70	+0.068%	$293	$253	5x	as long as short
Phoenix GOOGLlong	+0.0112%	1h	357.46	long leg	$137K	$36K	20x
OKX GOOGL-USDT-SWAP	+0.0113%	8h	357.73	+0.076%	$13.8M	$12.4M	50x	as long as short
BloFin GOOGL-USDT	+0.0206%	8h	357.75	+0.081%	$695K	$234K	20x	as long as short
Bybit GOOGLUSDT	+0.0207%	8h	357.91	+0.126%	$12.0M	$7.6M	100x	as long as short
Lighter GOOGL	+0.0280%	1h	357.81	+0.098%	$2.0M	$1.3M	20x	as long as short