Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0103%/8h= +11.2% APRpaid last 24h +0.040%

Price spread now: BloFin against Phoenix+0.006%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Phoenix Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.158%+$16 on $10k

Price spread, last 3 days (all we have)+0.145%+$15 · spread now +0.006%, 7d avg +0.065%

Together, before fees+0.303%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.059% cheaper against Phoenix than usual: you would sell low and buy high (spread +0.006% now, against its 7-day average of +0.065%). If the spread goes back, that is −$6 on $10k: about 46 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	Phoenix GOOGL	356.64	0.0135	pay 0.0017% / 1h	7m 18s	$137K	$48K	20x
Short	BloFin GOOGL-USDT	356.66	0.0237	get 0.0237% / 8h	1h 07m	$689K	$235K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.006%Rate

Funding earned: $21.53
Price spread: +0.006% → +0.065%: −$5.9
Slippage, 4 orders: −$12.59
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$15.96
Costs to cover: 0.316%
Break-even: 12.2 days

Slippage from Phoenix: live order book, 3 min ago; BloFin: live order book, 9 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, 3 min ago	3.09 bp	9.1 bp −$9	19.2 bp −$192	doesn't fit	doesn't fit
Sell BloFin live order book, 9 min ago	0.14 bp	6.7 bp −$7	8.1 bp −$81	14.8 bp −$1,477	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	−0.0024%	1h	356.38	−0.073%	$530K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.66	+0.006%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.81	+0.048%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.55	−0.025%	$23K	$151K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.98	+0.095%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.88	+0.067%	$2.7M	$64K	10x	as long as short
Hotstuff GOOGL-PERP	+0.0008%	1h	356.53	−0.031%	$33K	—	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0013%	1h	356.34	−0.085%	$144K	$54K	10x	as long as short
edgeX GOOGLUSDC	+0.0014%	4h	356.65	+0.003%	$208K	$1.2M	10x	as long as short
Variational Omni GOOGL	+0.0032%	8h	356.66	+0.005%	$4.6M	$2.5M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH GOOGL	+0.0032%	1h	356.84	+0.056%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.135%	$128K	$45K	30x	as long as short
GRVT GOOGL_USDT_Perp	+0.0042%	8h	356.65	+0.003%	$23K	$475K	10x	as long as short
QFEX GOOGL-USD	+0.0045%	1h	356.71	+0.020%	$1.3M	$4.8M	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.72	+0.022%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.54	−0.028%	$98.1M	$24.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.52	−0.034%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.56	−0.022%	$184	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.40	−0.067%	$2.3M	$4.9M	15x	as long as short
Bybit GOOGLUSDT	+0.0071%	8h	356.86	+0.062%	$11.5M	$7.7M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0090%	8h	356.73	+0.024%	$293	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0095%	8h	356.84	+0.056%	$16.9M	$9.2M	100x	as long as short
Aster GOOGLUSDT	+0.0096%	8h	356.83	+0.053%	$362K	$455K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.70	+0.017%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.36	−0.079%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.45	−0.053%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.66	+0.006%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.66	+0.005%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0108%	8h	356.82	+0.050%	$13.9M	$12.9M	50x	as long as short
Binance GOOGLUSDT	+0.0117%	8h	356.85	+0.060%	$73.0M	$142.2M	50x	as long as short
Extended GOOGL-USD	+0.0120%	1h	356.75	+0.031%	$421K	$1.6M	20x	as long as short
Nado GOOGL-PERP	+0.0129%	1h	356.47	−0.048%	$559K	$82K	20x	as long as short
Phoenix GOOGLlong	+0.0135%	1h	356.64	long leg	$137K	$48K	20x
Arcus GOOGL-USD	+0.0169%	1h	356.56	−0.022%	$202K	$271K	10x	as long as short
BloFin GOOGL-USDTshort	+0.0237%	8h	356.66	+0.006%	$689K	$235K	20x
Lighter GOOGL	+0.0280%	1h	356.84	+0.056%	$2.0M	$1.0M	20x	as long as short