Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.020%

Price spread now: Phemex against Polymarket Perps+0.073%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$610.613% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 3 days (all we have)+0.052%+$5 · spread now +0.073%, 7d avg +0.093%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.093%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps GOOG-USD	356.62	0.0050	pay 0.0006% / 1h	5m 35s	$684K	$437K	10x
Short	Phemex GOOGLUSDT	356.88	0	get 0.0000% / 4h	1h 05m	$2.7M	$64K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$10.5
Price spread: +0.073% → +0.093%: −$1.97
Slippage, 4 orders: −$41.33
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$73.8
Costs to cover: 0.613%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 12 min ago; Phemex: live order book, 3 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 Polymarket Perps live order book, 12 min ago	2.24 bp	8.3 bp −$8	9.2 bp −$92	10.4 bp −$1,038	doesn't fit
Sell Phemex live order book, 3 min ago	0.84 bp	22.8 bp −$23	doesn't fit	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
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.38	−0.067%	$530K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.74	+0.034%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.86	+0.067%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.60	−0.006%	$22K	$151K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.93	+0.087%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	356.88	+0.073%	$2.7M	$64K	10x
Aftermath Perps GOOGLUSD	+0.0013%	1h	356.35	−0.077%	$144K	$54K	10x	as long as short
Variational Omni GOOGL	+0.0032%	8h	356.66	+0.010%	$4.6M	$2.5M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.94	+0.090%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.140%	$128K	$45K	30x	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_Perp	+0.0042%	8h	356.65	+0.009%	$23K	$475K	10x	as long as short
QFEX GOOGL-USD	+0.0045%	1h	356.81	+0.053%	$1.3M	$4.8M	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.78	+0.045%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.62	0.000%	$98.1M	$24.6M	20x	as long as short
Polymarket Perps GOOG-USDlong	+0.0050%	1h	356.62	long leg	$684K	$437K	10x
SoDEX GOOGL-USD	+0.0050%	1h	356.61	−0.003%	$186	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.57	−0.014%	$2.3M	$4.9M	15x	as long as short
Bybit GOOGLUSDT	+0.0073%	8h	356.91	+0.081%	$11.5M	$7.7M	100x	as long as short
Hotstuff GOOGL-PERP	+0.0088%	1h	356.62	0.000%	$33K	—	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0091%	8h	356.81	+0.054%	$293	$253	5x	as long as short
Bitget GOOGLUSDT	+0.0096%	8h	356.89	+0.076%	$16.9M	$9.2M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.75	+0.036%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.46	−0.045%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.45	−0.048%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.76	+0.039%	$10K	$10K	20x	as long as short
Aster GOOGLUSDT	+0.0100%	8h	356.83	+0.059%	$362K	$455K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.76	+0.039%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0109%	8h	356.87	+0.070%	$13.9M	$12.9M	50x	as long as short
Extended GOOGL-USD	+0.0120%	1h	356.81	+0.054%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0120%	8h	356.88	+0.072%	$73.1M	$142.2M	50x	as long as short
Nado GOOGL-PERP	+0.0129%	1h	356.63	+0.003%	$560K	$82K	20x	as long as short
Phoenix GOOGL	+0.0135%	1h	356.64	+0.006%	$137K	$48K	20x	as long as short
Arcus GOOGL-USD	+0.0169%	1h	356.65	+0.008%	$202K	$271K	10x	as long as short
BloFin GOOGL-USDT	+0.0237%	8h	356.66	+0.011%	$689K	$235K	20x	as long as short
Lighter GOOGL	+0.0280%	1h	356.93	+0.087%	$2.0M	$1.0M	20x	as long as short
edgeX GOOGLUSDC	+0.0568%	4h	356.77	+0.043%	$208K	$1.2M	10x	as long as short