Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0179%/8h= −19.6% APRpaid last 24h −0.038%

Price spread now: Gate against Phoenix+0.014%47s7-day average +0.045% · 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−$420.418% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)+0.112%+$11 · spread now +0.014%, 7d avg +0.045%

Together, before fees−0.028%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Gate is 0.031% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.045%). Swap the legs. The two prices were read 47 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	357.38	0.0179	pay 0.0022% / 1h	52m 43s	$137K	$36K	20x
Short	Gate GOOGL_USDT	357.43	0	get 0.0000% / 8h	3h 52m	$3.6M	$7.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.014%Rate

Funding earned: −$37.6
Price spread: +0.014% → +0.045%: −$3.15
Slippage, 4 orders: −$19.78
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$82.52
Costs to cover: 0.418%
Break-even: never at this rate

Slippage from Phoenix: live order book, 58 min ago; Gate: live order book, 1 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, 58 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.40 bp	14.3 bp −$14	19.2 bp −$192	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
Gate GOOGL_USDTshort	0.0000%	8h	357.43	+0.014%	$3.6M	$7.3M	100x
Bitget GOOGLUSDT	0.0000%	8h	357.59	+0.059%	$17.4M	$9.6M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.57	+0.053%	$497	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.67	+0.081%	$115K	$220K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.64	+0.073%	$2.7M	$86K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.36	−0.006%	$524K	$1.1M	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0025%	8h	357.65	+0.076%	$23K	$432K	10x	as long as short
Variational Omni GOOGL	+0.0025%	8h	357.62	+0.068%	$4.8M	$2.3M	—	as long as short
Aftermath Perps GOOGLUSD	+0.0029%	1h	357.69	+0.086%	$144K	$48K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.55	+0.048%	$1.3M	$2.1M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.073%	$128K	$45K	30x	as long as short
Hotstuff GOOGL-PERP	+0.0040%	1h	357.30	−0.022%	$33K	—	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.30	−0.022%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.46	+0.022%	—	$5K	25x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.32	−0.017%	$685K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.32	−0.017%	$141	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.27	−0.031%	$2.3M	$4.8M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.48	+0.028%	$1.3M	$4.2M	10x	as long as short
Nado GOOGL-PERP	+0.0077%	1h	357.25	−0.036%	$557K	$80K	20x	as long as short
Aster GOOGLUSDT	+0.0087%	8h	357.72	+0.094%	$366K	$426K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.53	+0.043%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.18	−0.056%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.38	0.000%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.25	−0.036%	$10K	$10K	20x	as long as short
Extended GOOGL-USD	+0.0104%	1h	357.48	+0.028%	$423K	$1.8M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.44	+0.017%	$25K	—	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0105%	1h	357.32	−0.017%	$99.1M	$20.5M	20x	as long as short
Binance GOOGLUSDT	+0.0107%	8h	357.58	+0.056%	$72.7M	$141.2M	50x	as long as short
OKX GOOGL-USDT-SWAP	+0.0116%	8h	357.55	+0.048%	$13.8M	$12.4M	50x	as long as short
Paradex GOOGL-USD-PERP	+0.0118%	8h	357.49	+0.031%	$293	$253	5x	as long as short
Phoenix GOOGLlong	+0.0179%	1h	357.38	long leg	$137K	$36K	20x
BloFin GOOGL-USDT	+0.0226%	8h	357.68	+0.084%	$694K	$234K	20x	as long as short
Bybit GOOGLUSDT	+0.0244%	8h	357.66	+0.078%	$12.0M	$7.5M	100x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0254%	1h	357.33	−0.014%	$24K	$155K	10x	as long as short
Lighter GOOGL	+0.0336%	1h	357.54	+0.045%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0713%	4h	357.58	+0.055%	$208K	$1.2M	10x	as long as short