Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0483%/8h= +52.9% APRpaid last 24h +0.143%

Price spread now: edgeX against Lighter−0.041%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$170.175% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 7 days+0.043%+$4 · spread now −0.041%, 7d avg −0.007%

Together, before fees−0.058%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.034% cheaper against Lighter than usual: you would sell low and buy high (spread −0.041% now, against its 7-day average of −0.007%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −0.100%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.100% in total (about -5.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter GOOGL	357.43	0.0144	pay 0.0018% / 1h	33m 06s	$2.0M	$1.4M	20x
Short	edgeX GOOGLUSDC	357.28	0.0627	get 0.0313% / 4h	33m 06s	$208K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter. 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 LighterbpFee edgeXbpOrdersPrice spread, now −0.041%Rate

Funding earned: $101.42
Price spread: −0.041% → −0.007%: −$3.42
Slippage, 4 orders: −$8.5
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $80.5
Costs to cover: 0.175%
Break-even: 1.4 days

Slippage from Lighter: live order book, 3 min ago; edgeX: live order book, 1 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 Lighter live order book, 3 min ago	0.42 bp	0.9 bp −$1	2.2 bp −$22	79.7 bp −$7,971	doesn't fit
Sell edgeX live order book, 1 min ago	3.22 bp	8.0 bp −$8	11.2 bp −$112	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	−0.095%	$512K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.41	−0.006%	$13.6M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.34	−0.025%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.54	+0.031%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.35	−0.024%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.40	−0.008%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.46	+0.008%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.26	−0.048%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.58	+0.042%	$115K	$210K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.50	+0.020%	$2.7M	$88K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado GOOGL-PERP	+0.0007%	1h	357.35	−0.023%	$550K	$91K	20x	as long as short
Aster GOOGLUSDT	+0.0013%	8h	357.51	+0.023%	$366K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0024%	1h	357.25	−0.051%	$144K	$45K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.37	−0.017%	$1.4M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.36	−0.019%	$427K	$2.5M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.087%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.36	−0.020%	$1.3M	$4.1M	10x	as long as short
Binance GOOGLUSDT	+0.0036%	8h	357.46	+0.008%	$72.1M	$143.4M	50x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.18	−0.070%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.55	+0.034%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.26	−0.048%	$98.2M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.22	−0.059%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.27	−0.045%	$139	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.03	−0.112%	$2.3M	$4.7M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.42	−0.003%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0062%	8h	357.01	−0.118%	$3.0M	$101K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.23	−0.055%	$42K	$35K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.25	−0.050%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.31	−0.034%	$10K	$11K	20x	as long as short
Bybit GOOGLUSDT	+0.0102%	8h	357.47	+0.011%	$11.5M	$7.9M	100x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.33	−0.028%	$25K	—	10x	as long as short
Hotstuff GOOGL-PERP	+0.0112%	1h	357.27	−0.045%	$33K	—	20x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.08	−0.098%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0142%	8h	357.46	+0.008%	$688K	$236K	20x	as long as short
Lighter GOOGLlong	+0.0144%	1h	357.43	long leg	$2.0M	$1.4M	20x
edgeX GOOGLUSDCshort	+0.0627%	4h	357.28	−0.041%	$208K	$1.2M	10x