Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h −0.035%

Price spread now: HTX against Phoenix+0.115%72s7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as 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−$360.358% of the position

Long on Phoenix Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 3 days (all we have)+0.044%+$4 · spread now +0.115%, 7d avg +0.095%

Together, before fees−0.138%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.095%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. The two prices were read 72 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	356.26	0.0157	pay 0.0020% / 1h	15m 47s	$137K	$48K	20x
Short	HTX GOOGL-USDT	356.67	0	get 0.0000% / 8h	15m 47s	$114K	$224K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$32.98
Price spread: +0.115% → +0.095%: $1.99
Slippage, 4 orders: −$16.77
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$66.76
Costs to cover: 0.358%
Break-even: never at this rate

Slippage from Phoenix: live order book, 55 min ago; HTX: live order book, 61 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, 55 min ago	3.09 bp	9.1 bp −$9	19.2 bp −$192	doesn't fit	doesn't fit
Sell HTX live order book, 61 min ago	2.80 bp	8.8 bp −$9	15.9 bp −$159	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_USDT	0.0000%	8h	356.44	+0.051%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.61	+0.098%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDTshort	0.0000%	8h	356.67	+0.115%	$114K	$224K	30x
Phemex GOOGLUSDT	0.0000%	4h	356.65	+0.109%	$2.7M	$66K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0008%	1h	356.24	−0.006%	$530K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0018%	1h	356.38	+0.035%	$144K	$53K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.57	+0.087%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.241%	$128K	$45K	30x	as long as short
GRVT GOOGL_USDT_Perp	+0.0043%	8h	356.56	+0.084%	$23K	$473K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.52	+0.073%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.27	+0.003%	$98.2M	$25.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.29	+0.008%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.32	+0.017%	$177	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.26	0.000%	$2.3M	$4.9M	15x	as long as short
Variational Omni GOOGL	+0.0059%	8h	356.56	+0.085%	$4.7M	$2.6M	—	as long as short
QFEX GOOGL-USD	+0.0060%	1h	356.49	+0.065%	$1.3M	$4.9M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0084%	8h	356.51	+0.069%	$292	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.24	−0.007%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.32	+0.017%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.36	+0.028%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.44	+0.051%	$10K	$10K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0104%	1h	356.31	+0.014%	$33K	—	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.48	+0.060%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0108%	8h	356.69	+0.121%	$363K	$457K	20x	as long as short
Nado GOOGL-PERP	+0.0109%	1h	356.28	+0.006%	$559K	$81K	20x	as long as short
Bybit GOOGLUSDT	+0.0123%	8h	356.62	+0.101%	$11.5M	$7.8M	100x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.50	+0.068%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0129%	8h	356.56	+0.085%	$73.1M	$142.9M	50x	as long as short
Bitget GOOGLUSDT	+0.0129%	8h	356.52	+0.073%	$16.8M	$9.3M	100x	as long as short
Phoenix GOOGLlong	+0.0157%	1h	356.26	long leg	$137K	$48K	20x
OKX GOOGL-USDT-SWAP	+0.0177%	8h	356.60	+0.095%	$13.8M	$12.9M	50x	as long as short
BloFin GOOGL-USDT	+0.0249%	8h	356.63	+0.104%	$692K	$236K	20x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.35	+0.025%	$202K	$271K	10x	as long as short
Lighter GOOGL	+0.0264%	1h	356.53	+0.076%	$2.1M	$1.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0283%	1h	356.42	+0.045%	$23K	$152K	10x	as long as short
edgeX GOOGLUSDC	+0.0808%	4h	356.50	+0.067%	$210K	$1.2M	10x	as long as short