Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.028%

Price spread now: Phemex against Bitget−0.003%46s7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as 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−$710.706% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now −0.003%, 7d avg +0.021%

Together, before fees−0.040%−$4 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 0.024% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.021%. The two prices were read 46 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	Bitget GOOGLUSDT	357.78	0	get 0.0000% / 8h	9m 30s	$17.4M	$9.8M	100x
Short	Phemex GOOGLUSDT	357.77	0	get 0.0000% / 4h	9m 30s	$2.7M	$88K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now −0.003%Rate

Funding earned: $0
Price spread: −0.003% → +0.021%: −$2.4
Slippage, 4 orders: −$46.58
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$72.99
Costs to cover: 0.706%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Phemex: live order book, 4 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 Bitget live order book, 4 min ago	0.56 bp	7.7 bp −$8	10.3 bp −$103	21.3 bp −$2,129	doesn't fit
Sell Phemex live order book, 4 min ago	0.98 bp	18.3 bp −$18	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	−0.0048%	1h	357.09	−0.193%	$512K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0011%	1h	357.50	−0.079%	$550K	$88K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.67	−0.031%	$13.6M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.59	−0.053%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDTlong	0.0000%	8h	357.78	long leg	$17.4M	$9.8M	100x
Variational Omni GOOGL	0.0000%	8h	357.69	−0.025%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.74	−0.012%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.73	−0.014%	$2K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.51	−0.075%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.83	+0.014%	$115K	$209K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDTshort	0.0000%	4h	357.77	−0.003%	$2.7M	$88K	10x
Aster GOOGLUSDT	+0.0003%	8h	357.79	+0.003%	$366K	$422K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.64	−0.039%	$144K	$44K	10x	as long as short
Extended GOOGL-USD	+0.0024%	1h	357.59	−0.052%	$427K	$2.5M	20x	as long as short
Binance GOOGLUSDT	+0.0026%	8h	357.68	−0.028%	$72.1M	$143.3M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.60	−0.050%	$1.4M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.184%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.58	−0.056%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.48	−0.084%	$208K	$279K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0041%	8h	357.16	−0.173%	$3.0M	$108K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.79	+0.003%	—	$5K	25x	as long as short
Hotstuff GOOGL-PERP	+0.0048%	1h	357.48	−0.084%	$33K	—	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.49	−0.081%	$98.2M	$21.3M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.42	−0.101%	$686K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.53	−0.070%	$137	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.40	−0.106%	$2.3M	$4.6M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.63	−0.043%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0078%	8h	357.70	−0.022%	$11.5M	$7.8M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.43	−0.098%	$42K	$26K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.54	−0.067%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.56	−0.061%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.55	−0.064%	$25K	—	10x	as long as short
BloFin GOOGL-USDT	+0.0107%	8h	357.60	−0.050%	$688K	$236K	20x	as long as short
Lighter GOOGL	+0.0112%	1h	357.67	−0.031%	$2.0M	$1.4M	20x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.59	−0.053%	$138K	$36K	20x	as long as short
edgeX GOOGLUSDC	+0.0617%	4h	357.69	−0.024%	$209K	$1.2M	10x	as long as short