Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0059%/8h= −6.5% APRpaid last 24h −0.025%

Price spread now: Coinbase International against Bybit−0.342%7-day average −0.147% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)+0.304%+$30 · spread now −0.342%, 7d avg −0.147%

Together, before fees+0.215%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.196% cheaper against Bybit than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.147%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GOOGLUSDT	359.23	0.0003	pay 0.0003% / 8h	6h 11m	$11.5M	$7.5M	100x
Short	Coinbase International GOOGL-PERP-INTX	358.00	−0.0056	pay 0.0007% / 1h	11m 38s	$516K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.342%Rate

Funding earned: −$12.41
Price spread: −0.342% → −0.147%: −$19.59
Slippage, 4 orders: −$12.1
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$65.09
Costs to cover: 0.331%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Coinbase International: 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 Bybit live order book, 5 min ago	0.28 bp	7.5 bp −$7	10.4 bp −$104	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	2.37 bp	8.1 bp −$8	10.7 bp −$107	doesn't fit	doesn't fit

GOOGL on 36 exchanges

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-INTXshort	−0.0056%	1h	358.00	−0.342%	$516K	$1.1M	10x
OKX GOOGL-USDT-SWAP	0.0000%	8h	359.26	+0.008%	$13.5M	$13.5M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	359.07	−0.045%	$3.7M	$6.8M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	359.30	+0.019%	$17.5M	$9.4M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	358.86	−0.104%	$5.0M	$2.4M	—	as long as short
SunX GOOGL-USDT	0.0000%	8h	359.11	−0.033%	$1K	$3.7M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	358.86	−0.103%	$25K	$148K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	359.31	+0.022%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	359.21	−0.006%	$2.7M	$106K	10x	as long as short
Bybit GOOGLUSDTlong	+0.0003%	8h	359.23	long leg	$11.5M	$7.5M	100x

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0029%	1h	358.70	−0.147%	$145K	$43K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	359.16	−0.019%	$1.3M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.587%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	359.11	−0.033%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0048%	1h	359.16	−0.019%	$1.3M	$4.1M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	358.97	−0.072%	$98.4M	$21.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	358.96	−0.075%	$687K	$413K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	358.83	−0.111%	$111	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	358.71	−0.145%	$2.3M	$3.9M	15x	as long as short
Aster GOOGLUSDT	+0.0061%	8h	358.98	−0.071%	$369K	$420K	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0062%	8h	359.12	−0.032%	$294	$253	5x	as long as short
Nado GOOGL-PERP	+0.0075%	1h	359.00	−0.064%	$553K	$81K	20x	as long as short
Extended GOOGL-USD	+0.0080%	1h	359.17	−0.018%	$426K	$2.4M	20x	as long as short
Arcus GOOGL-USD	+0.0081%	1h	359.01	−0.061%	$211K	$279K	10x	as long as short
Binance GOOGLUSDT	+0.0081%	8h	359.28	+0.014%	$73.2M	$141.7M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	359.16	−0.019%	$42K	$20K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	358.86	−0.103%	$3.0M	$227K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	358.65	−0.161%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	358.99	−0.067%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	358.92	−0.087%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	358.69	−0.150%	$138K	$36K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0144%	1h	358.97	−0.072%	$33K	—	20x	as long as short
GRVT GOOGL_USDT_Perp	+0.0189%	8h	358.96	−0.074%	$23K	$447K	10x	as long as short
Lighter GOOGL	+0.0192%	1h	359.19	−0.011%	$2.0M	$2.2M	20x	as long as short
BloFin GOOGL-USDT	+0.0195%	8h	359.02	−0.058%	$688K	$241K	20x	as long as short
edgeX GOOGLUSDC	+0.0854%	4h	358.86	−0.103%	$209K	$1.2M	10x	as long as short