Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0209%/8h= +22.9% APRpaid last 24h +0.162%

Price spread now: edgeX against Phoenix+0.073%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now +0.073%, 7d avg +0.047%

Together, before fees−0.158%+ Points / potential airdropedgeX: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and edgeX is 0.026% dearer against Phoenix than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.047%. Mind the row above: over the last 7 days funding on this pair cost −0.143%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.143% in total (about -7.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOOGL	357.27	0.0090	pay 0.0011% / 1h	55m 11s	$137K	$36K	20x
Short	edgeX GOOGLUSDC	357.53	0.0298	get 0.0149% / 4h	1h 55m	$209K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $43.83
Price spread: +0.073% → +0.047%: $2.59
Slippage, 4 orders: −$16.59
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $13.83
Costs to cover: 0.326%
Break-even: 4.8 days

Slippage from Phoenix: live order book, 65 min ago; edgeX: live order book, 4 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, 65 min ago	2.53 bp	8.4 bp −$8	17.2 bp −$172	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	3.22 bp	7.9 bp −$8	11.2 bp −$112	doesn't fit	doesn't fit

GOOGL on 35 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	−0.0064%	1h	357.41	+0.039%	$524K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0055%	1h	357.52	+0.069%	$558K	$80K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.53	+0.073%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.58	+0.086%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.57	+0.083%	$24K	$436K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.66	+0.109%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.45	+0.050%	$23K	$154K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.77	+0.140%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.64	+0.104%	$2.7M	$74K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0006%	1h	357.23	−0.011%	$144K	$50K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOOGL-USD	+0.0028%	1h	357.56	+0.081%	$1.3M	$4.4M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.69	+0.118%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.042%	$128K	$45K	30x	as long as short
Bitget GOOGLUSDT	+0.0034%	8h	357.63	+0.101%	$17.0M	$9.3M	100x	as long as short
Bybit GOOGLUSDT	+0.0038%	8h	357.70	+0.120%	$11.7M	$7.4M	100x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.30	+0.008%	$202K	$272K	10x	as long as short
Aster GOOGLUSDT	+0.0041%	8h	357.50	+0.064%	$365K	$458K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.76	+0.137%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.46	+0.053%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.28	+0.003%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.46	+0.053%	$149	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.24	−0.008%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0055%	8h	357.65	+0.106%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0061%	8h	357.67	+0.112%	$72.9M	$141.5M	50x	as long as short
Extended GOOGL-USD	+0.0064%	1h	357.58	+0.086%	$421K	$1.8M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0064%	1h	357.45	+0.050%	$33K	—	20x	as long as short
Phoenix GOOGLlong	+0.0090%	1h	357.27	long leg	$137K	$36K	20x
Lighter GOOGL	+0.0096%	1h	357.71	+0.123%	$2.1M	$1.2M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.39	+0.033%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.19	−0.022%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.42	+0.042%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.46	+0.053%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.48	+0.060%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0142%	8h	357.62	+0.098%	$13.8M	$12.5M	50x	as long as short
edgeX GOOGLUSDCshort	+0.0298%	4h	357.53	+0.073%	$209K	$1.2M	10x