Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0223%/8h= −24.4% APRpaid last 24h −0.080%

Price spread now: Deribit against BloFin−0.075%117s7-day average −0.054% · you buy dearer than you sell

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−$250.246% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.124%−$12 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.075%, 7d avg −0.054%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Deribit is 0.021% cheaper against BloFin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.054%). Swap the legs. The two prices were read 117 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	BloFin GOOGL-USDT	357.67	0.0223	pay 0.0223% / 8h	3h 03m	$693K	$235K	20x
Short	Deribit GOOGL_USDC-PERPETUAL	357.40	0	get 0.0000% / 1h	3m 21s	$24K	$156K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$46.75
Price spread: −0.075% → −0.054%: −$2.14
Slippage, 4 orders: −$5.6
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$73.49
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from BloFin: live order book, 28 min ago; Deribit: live order book, 50 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 BloFin live order book, 28 min ago	0.14 bp	6.2 bp −$6	7.2 bp −$72	15.0 bp −$1,501	doesn't fit
Sell Deribit live order book, 50 min ago	0.14 bp	3.6 bp −$4	6.7 bp −$67	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	357.45	−0.062%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.64	−0.008%	$17.5M	$9.7M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.62	−0.014%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUALshort	0.0000%	1h	357.40	−0.075%	$24K	$156K	10x
HTX GOOGL-USDT	0.0000%	8h	357.76	+0.025%	$115K	$216K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.68	+0.003%	$2.7M	$87K	10x	as long as short
Nado GOOGL-PERP	+0.0006%	1h	357.43	−0.066%	$558K	$86K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.67	0.000%	$522K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.52	−0.042%	$144K	$47K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0023%	8h	357.66	−0.003%	$24K	$442K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GOOGL	+0.0029%	8h	357.57	−0.027%	$4.8M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.59	−0.022%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.154%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.36	−0.087%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.68	+0.003%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.42	−0.070%	$99.2M	$20.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.38	−0.081%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.41	−0.073%	$155	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.18	−0.137%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.52	−0.042%	$1.3M	$4.2M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0064%	8h	357.57	−0.029%	$293	$253	5x	as long as short
OKX GOOGL-USDT-SWAP	+0.0066%	8h	357.59	−0.022%	$13.7M	$12.5M	50x	as long as short
Aster GOOGLUSDT	+0.0081%	8h	357.53	−0.039%	$366K	$426K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.40	−0.075%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.48	−0.053%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.44	−0.064%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.49	−0.050%	$10K	$11K	20x	as long as short
Binance GOOGLUSDT	+0.0101%	8h	357.61	−0.017%	$72.3M	$142.9M	50x	as long as short
Extended GOOGL-USD	+0.0104%	1h	357.52	−0.043%	$419K	$1.2M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.49	−0.050%	$25K	—	10x	as long as short
edgeX GOOGLUSDC	+0.0117%	4h	357.55	−0.035%	$208K	$1.2M	10x	as long as short
Hotstuff GOOGL-PERP	+0.0152%	1h	357.41	−0.073%	$33K	—	20x	as long as short
Phoenix GOOGL	+0.0179%	1h	357.50	−0.048%	$138K	$36K	20x	as long as short
Lighter GOOGL	+0.0192%	1h	357.62	−0.014%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDTlong	+0.0223%	8h	357.67	long leg	$693K	$235K	20x
Bybit GOOGLUSDT	+0.0238%	8h	357.72	+0.014%	$12.0M	$7.5M	100x	as long as short