Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.011%

Price spread now: Lighter against Aster−0.043%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

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

costs, in and out, $10k−$310.314% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$12 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.043%, 7d avg −0.020%

Together, before fees+0.083%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.024% cheaper against Aster than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of −0.020%). If the spread goes back, that is −$2 on $10k: about 10 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.125% in total) that is about 32 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.125% in total (about 6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster GOOGLUSDT	356.76	0.0108	pay 0.0108% / 8h	36m 21s	$363K	$455K	20x
Short	Lighter GOOGL	356.61	0.0296	get 0.0037% / 1h	36m 21s	$2.1M	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.043%Rate

Funding earned: $39.53
Price spread: −0.043% → −0.020%: −$2.37
Slippage, 4 orders: −$23.38
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $5.78
Costs to cover: 0.314%
Break-even: 6.0 days

Slippage from Aster: live order book, 41 min ago; Lighter: 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 Aster live order book, 41 min ago	3.22 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.28 bp	1.3 bp −$1	2.6 bp −$26	113.5 bp −$11.4K	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	356.50	−0.074%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.61	−0.043%	$1K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.71	−0.015%	$115K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.76	−0.001%	$2.7M	$66K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0008%	1h	356.40	−0.102%	$530K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0016%	1h	356.42	−0.097%	$144K	$54K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.64	−0.035%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.100%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.49	−0.077%	—	$5K	25x	as long as short
GRVT GOOGL_USDT_Perp	+0.0047%	8h	356.59	−0.049%	$23K	$474K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps GOOG-USD	+0.0050%	1h	356.36	−0.113%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.33	−0.122%	$200	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.24	−0.147%	$2.3M	$4.9M	15x	as long as short
Variational Omni GOOGL	+0.0056%	8h	356.57	−0.053%	$4.7M	$2.6M	—	as long as short
tradeXYZ xyz:GOOGL	+0.0060%	1h	356.35	−0.116%	$98.9M	$25.2M	20x	as long as short
QFEX GOOGL-USD	+0.0060%	1h	356.51	−0.071%	$1.3M	$4.9M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0088%	8h	356.52	−0.068%	$292	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0098%	8h	356.64	−0.035%	$11.5M	$7.7M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.25	−0.144%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.32	−0.125%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.35	−0.116%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.59	−0.049%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.52	−0.068%	$25K	—	10x	as long as short
Aster GOOGLUSDTlong	+0.0108%	8h	356.76	long leg	$363K	$455K	20x
Nado GOOGL-PERP	+0.0111%	1h	356.30	−0.130%	$559K	$82K	20x	as long as short
Bitget GOOGLUSDT	+0.0118%	8h	356.65	−0.032%	$16.9M	$9.3M	100x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.57	−0.054%	$421K	$1.6M	20x	as long as short
Binance GOOGLUSDT	+0.0129%	8h	356.61	−0.043%	$73.1M	$142.8M	50x	as long as short
Hotstuff GOOGL-PERP	+0.0136%	1h	356.35	−0.116%	$33K	—	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0151%	8h	356.69	−0.021%	$13.9M	$12.9M	50x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.49	−0.077%	$137K	$48K	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0171%	1h	356.43	−0.094%	$23K	$152K	10x	as long as short
BloFin GOOGL-USDT	+0.0249%	8h	356.65	−0.032%	$692K	$236K	20x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.39	−0.105%	$202K	$271K	10x	as long as short
Lighter GOOGLshort	+0.0296%	1h	356.61	−0.043%	$2.1M	$1.1M	20x
edgeX GOOGLUSDC	+0.0310%	4h	356.66	−0.029%	$210K	$1.2M	10x	as long as short