Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.038%

Price spread now: Phoenix against HTX−0.073%72s7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as 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−$340.343% of the position

Long on HTX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.186%+$19 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.073%, 7d avg −0.095%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.022% dearer against HTX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.095%. The two prices were read 72 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	HTX GOOGL-USDT	357.65	0	get 0.0000% / 8h	2m 09s	$115K	$210K	30x
Short	Phoenix GOOGL	357.39	0.0112	get 0.0014% / 1h	2m 09s	$137K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now −0.073%Rate

Funding earned: $23.53
Price spread: −0.073% → −0.095%: $2.19
Slippage, 4 orders: −$15.33
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$8.62
Costs to cover: 0.343%
Break-even: 9.6 days

Slippage from HTX: live order book, 34 min ago; Phoenix: live order book, 29 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 HTX live order book, 34 min ago	2.80 bp	8.8 bp −$9	10.6 bp −$106	doesn't fit	doesn't fit
Sell Phoenix live order book, 29 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	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	−0.157%	$512K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0004%	1h	357.32	−0.093%	$549K	$88K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.46	−0.053%	$13.6M	$12.9M	50x	as long as short
Hotstuff GOOGL-PERP	0.0000%	1h	357.42	−0.064%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.46	−0.053%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.66	+0.003%	$17.4M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.58	−0.020%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.58	−0.019%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.57	−0.022%	$1K	$4.0M	20x	as long as short
HTX GOOGL-USDTlong	0.0000%	8h	357.65	long leg	$115K	$210K	30x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDT	0.0000%	4h	357.70	+0.014%	$2.7M	$88K	10x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0002%	1h	357.36	−0.081%	$24K	$157K	10x	as long as short
Aster GOOGLUSDT	+0.0004%	8h	357.75	+0.027%	$366K	$422K	20x	as long as short
Extended GOOGL-USD	+0.0024%	1h	357.49	−0.044%	$427K	$2.5M	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0025%	1h	357.66	+0.003%	$144K	$44K	10x	as long as short
Binance GOOGLUSDT	+0.0027%	8h	357.58	−0.020%	$72.1M	$143.2M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.46	−0.053%	$1.4M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.148%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.47	−0.050%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.39	−0.073%	$208K	$279K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0044%	8h	357.18	−0.131%	$3.0M	$117K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.70	+0.014%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.36	−0.081%	$98.2M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.38	−0.075%	$686K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.34	−0.087%	$131	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.32	−0.092%	$2.3M	$4.6M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.46	−0.054%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0075%	8h	357.60	−0.014%	$11.5M	$7.8M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.38	−0.075%	$42K	$26K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.32	−0.092%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.34	−0.087%	$10K	$11K	20x	as long as short
BloFin GOOGL-USDT	+0.0103%	8h	357.61	−0.011%	$688K	$236K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.49	−0.046%	$25K	—	10x	as long as short
Phoenix GOOGLshort	+0.0112%	1h	357.39	−0.073%	$137K	$36K	20x
Lighter GOOGL	+0.0120%	1h	357.54	−0.031%	$2.0M	$1.4M	20x	as long as short
edgeX GOOGLUSDC	+0.0623%	4h	357.57	−0.022%	$209K	$1.2M	10x	as long as short