Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h −0.017%

Price spread now: Phemex against Aftermath Perps+0.100%50s7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$650.646% of the position

Long on Aftermath Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.016%+$2 on $10k

Price spread, last 3 days (all we have)−0.001%$0 · spread now +0.100%, 7d avg +0.077%

Together, before fees+0.015%+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.023% dearer against Aftermath Perps than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.077%. The two prices were read 50 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	Aftermath Perps GOOGLUSD	357.41	0.0005	pay 0.0001% / 1h	48m 24s	$144K	$50K	10x
Short	Phemex GOOGLUSDT	357.77	0	get 0.0000% / 4h	1h 48m	$2.7M	$75K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aftermath 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 Aftermath PerpsbpFee PhemexbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$1.05
Price spread: +0.100% → +0.077%: $2.35
Slippage, 4 orders: −$43.55
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$63.25
Costs to cover: 0.646%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 16 min ago; Phemex: live order book, 5 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 Aftermath Perps live order book, 16 min ago	4.28 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	2.94 bp	22.8 bp −$23	doesn't fit	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
Deribit GOOGL_USDC-PERPETUAL	−0.0365%	1h	357.32	−0.025%	$23K	$154K	10x	as long as short
Nado GOOGL-PERP	−0.0067%	1h	357.59	+0.051%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.29	−0.034%	$523K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.63	+0.061%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.62	+0.057%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.65	+0.066%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.75	+0.095%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.85	+0.123%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	357.77	+0.100%	$2.7M	$75K	10x
Aftermath Perps GOOGLUSDlong	+0.0005%	1h	357.41	long leg	$144K	$50K	10x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit GOOGLUSDT	+0.0024%	8h	357.81	+0.112%	$11.8M	$7.5M	100x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.62	+0.058%	$1.3M	$4.4M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.76	+0.098%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.081%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0036%	8h	357.66	+0.071%	$366K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.43	+0.005%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.84	+0.120%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.54	+0.036%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.40	−0.003%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.54	+0.036%	$147	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.32	−0.025%	$2.3M	$4.8M	15x	as long as short
Bitget GOOGLUSDT	+0.0053%	8h	357.72	+0.086%	$17.0M	$9.3M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.72	+0.087%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.65	+0.067%	$421K	$1.8M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	357.54	+0.036%	$33K	—	20x	as long as short
Binance GOOGLUSDT	+0.0056%	8h	357.74	+0.093%	$72.9M	$141.5M	50x	as long as short
Lighter GOOGL	+0.0088%	1h	357.78	+0.103%	$2.1M	$1.2M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.47	+0.018%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.28	−0.037%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.46	+0.014%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.59	+0.050%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.57	+0.044%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.54	+0.036%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0135%	8h	357.72	+0.086%	$13.8M	$12.4M	50x	as long as short
edgeX GOOGLUSDC	+0.0644%	4h	357.54	+0.037%	$209K	$1.2M	10x	as long as short