Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0082%/8h= +8.9% APRpaid last 24h −0.036%

Price spread now: Bitget against Injective−0.115%101s7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as 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−$350.349% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.097%+$10 · spread now −0.115%, 7d avg −0.056%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.059% cheaper against Injective than usual: you would sell low and buy high (spread −0.115% now, against its 7-day average of −0.056%). If the spread goes back, that is −$6 on $10k: about 2.4 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.001% in total) that is about 24 months. The two prices were read 101 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	Injective GOOGL/USDC PERP	357.12	0.0033	pay 0.0004% / 1h	39m 36s	$128K	$45K	30x
Short	Bitget GOOGLUSDT	356.71	0.0115	get 0.0115% / 8h	39m 36s	$16.9M	$9.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now −0.115%Rate

Funding earned: $17.15
Price spread: −0.115% → −0.056%: −$5.92
Slippage, 4 orders: −$22.86
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$23.65
Costs to cover: 0.349%
Break-even: 16.7 days

Slippage from Injective: live order book, 39 min ago; Bitget: 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 Injective live order book, 39 min ago	10.24 bp	10.2 bp −$10	10.2 bp −$102	57280.7 bp −$5.73M	326403.2 bp −$163.20M
Sell Bitget live order book, 4 min ago	0.42 bp	7.7 bp −$8	11.3 bp −$113	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	356.54	−0.162%	$3.6M	$7.5M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.70	−0.118%	$2K	$4.2M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.78	−0.095%	$114K	$224K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	356.80	−0.090%	$2.7M	$66K	10x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0008%	1h	356.40	−0.202%	$530K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0015%	1h	356.38	−0.206%	$144K	$54K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.65	−0.132%	$1.4M	$2.5M	20x	as long as short
Injective GOOGL/USDC PERPlong	+0.0033%	1h	357.12	long leg	$128K	$45K	30x
Hotstuff GOOGL-PERP	+0.0040%	1h	356.41	−0.199%	$33K	—	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.58	−0.151%	—	$5K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT GOOGL_USDT_Perp	+0.0047%	8h	356.59	−0.148%	$23K	$474K	10x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.43	−0.193%	$683K	$437K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.43	−0.193%	$195	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.36	−0.213%	$2.3M	$4.9M	15x	as long as short
Variational Omni GOOGL	+0.0054%	8h	356.55	−0.159%	$4.7M	$2.6M	—	as long as short
QFEX GOOGL-USD	+0.0060%	1h	356.59	−0.148%	$1.3M	$4.9M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0072%	1h	356.41	−0.199%	$98.9M	$25.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0087%	1h	356.43	−0.193%	$22K	$152K	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0087%	8h	356.54	−0.164%	$292	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0096%	8h	356.66	−0.129%	$11.5M	$7.7M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.26	−0.241%	$42K	$45K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.31	−0.227%	$3.0M	$66K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.39	−0.204%	$21K	$9K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.53	−0.165%	$10K	$10K	20x	as long as short
Nado GOOGL-PERP	+0.0103%	1h	356.37	−0.210%	$559K	$82K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.57	−0.153%	$25K	—	10x	as long as short
Aster GOOGLUSDT	+0.0106%	8h	356.75	−0.104%	$362K	$455K	20x	as long as short
Bitget GOOGLUSDTshort	+0.0115%	8h	356.71	−0.115%	$16.9M	$9.3M	100x
Binance GOOGLUSDT	+0.0128%	8h	356.71	−0.115%	$73.0M	$142.9M	50x	as long as short
Extended GOOGL-USD	+0.0128%	1h	356.63	−0.137%	$421K	$1.6M	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0147%	8h	356.75	−0.104%	$13.9M	$12.9M	50x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.59	−0.148%	$137K	$48K	20x	as long as short
BloFin GOOGL-USDT	+0.0248%	8h	356.59	−0.148%	$689K	$236K	20x	as long as short
Arcus GOOGL-USD	+0.0250%	1h	356.42	−0.196%	$202K	$271K	10x	as long as short
Lighter GOOGL	+0.0296%	1h	356.66	−0.129%	$2.1M	$1.1M	20x	as long as short
edgeX GOOGLUSDC	+0.0343%	4h	356.59	−0.149%	$208K	$1.2M	10x	as long as short