Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0154%/8h= −16.9% APRpaid last 24h −0.022%

Price spread now: GRVT against Phoenix+0.029%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Phoenix Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.151%−$15 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.029%, 7d avg +0.060%

Together, before fees−0.141%+ Points / potential airdropGRVT: Active · farm board−$14 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 GRVT 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 +0.060%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOOGL	357.79	0.0179	pay 0.0022% / 1h	27m 52s	$138K	$36K	20x
Short	GRVT GOOGL_USDT_Perp	357.89	0.0025	get 0.0025% / 8h	3h 27m	$23K	$442K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$32.35
Price spread: +0.029% → +0.060%: −$3.08
Slippage, 4 orders: −$14.66
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$66.09
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Phoenix: live order book, 18 min ago; GRVT: live order book, 25 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, 18 min ago	3.08 bp	9.3 bp −$9	20.1 bp −$201	doesn't fit	doesn't fit
Sell GRVT live order book, 25 min ago	1.26 bp	5.9 bp −$6	9.7 bp −$97	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
Hotstuff GOOGL-PERP	−0.0016%	1h	357.68	−0.031%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.72	−0.020%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.71	−0.022%	$17.4M	$9.6M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.83	+0.011%	$2K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.49	−0.084%	$24K	$155K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.97	+0.050%	$115K	$219K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.96	+0.048%	$2.7M	$85K	10x	as long as short
Nado GOOGL-PERP	+0.0002%	1h	357.63	−0.044%	$558K	$83K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.67	−0.034%	$522K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.66	−0.037%	$144K	$48K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT GOOGL_USDT_Perpshort	+0.0025%	8h	357.89	+0.029%	$23K	$442K	10x
Variational Omni GOOGL	+0.0026%	8h	357.87	+0.023%	$4.8M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.85	+0.017%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.187%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.56	−0.064%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.86	+0.020%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.70	−0.025%	$99.2M	$20.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.56	−0.064%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.72	−0.020%	$140	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.54	−0.070%	$2.2M	$4.9M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.78	−0.003%	$1.3M	$4.2M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0064%	8h	357.76	−0.009%	$293	$253	5x	as long as short
Aster GOOGLUSDT	+0.0085%	8h	357.65	−0.038%	$366K	$426K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0088%	8h	357.85	+0.017%	$13.8M	$12.4M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.81	+0.006%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.35	−0.123%	$3.0M	$96K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.65	−0.039%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.62	−0.048%	$10K	$11K	20x	as long as short
Binance GOOGLUSDT	+0.0104%	8h	357.83	+0.012%	$72.3M	$142.0M	50x	as long as short
Extended GOOGL-USD	+0.0104%	1h	357.73	−0.018%	$419K	$1.7M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.70	−0.024%	$25K	—	10x	as long as short
Phoenix GOOGLlong	+0.0179%	1h	357.79	long leg	$138K	$36K	20x
Lighter GOOGL	+0.0192%	1h	357.83	+0.011%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0224%	8h	357.96	+0.048%	$693K	$235K	20x	as long as short
Bybit GOOGLUSDT	+0.0234%	8h	357.96	+0.048%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0542%	4h	357.87	+0.022%	$209K	$1.2M	10x	as long as short