Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0202%/8h= −22.2% APRpaid last 24h −0.051%

Price spread now: Coinbase International against OKX−0.109%7-day average −0.140% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 3 days (all we have)+0.029%+$3 · spread now −0.109%, 7d avg −0.140%

Together, before fees−0.033%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.031% dearer against OKX than usual: you sell high and buy low (spread −0.109% now, against its 7-day average of −0.140%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.061% in total) that is about 3.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.061% in total (about -3.2% 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	OKX GOOGL-USDT-SWAP	357.68	0.0138	pay 0.0138% / 8h	5h 50m	$13.8M	$12.4M	50x
Short	Coinbase International GOOGL-PERP-INTX	357.29	−0.0064	pay 0.0008% / 1h	50m 42s	$523K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$42.49
Price spread: −0.109% → −0.140%: $3.09
Slippage, 4 orders: −$8.25
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$67.65
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Coinbase International: live order book, 3 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 OKX live order book, 3 min ago	0.14 bp	7.4 bp −$7	11.2 bp −$112	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.14 bp	5.7 bp −$6	9.0 bp −$90	doesn't fit	doesn't fit

GOOGL on 35 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
Nado GOOGL-PERP	−0.0067%	1h	357.54	−0.038%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTXshort	−0.0064%	1h	357.29	−0.109%	$523K	$1.1M	10x
Deribit GOOGL_USDC-PERPETUAL	−0.0030%	1h	357.36	−0.089%	$23K	$154K	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.59	−0.025%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.62	−0.018%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.60	−0.022%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.68	0.000%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.76	+0.022%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.71	+0.008%	$2.7M	$75K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.38	−0.085%	$144K	$50K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff GOOGL-PERP	+0.0016%	1h	357.42	−0.073%	$33K	—	20x	as long as short
Bybit GOOGLUSDT	+0.0027%	8h	357.73	+0.014%	$11.8M	$7.5M	100x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.60	−0.022%	$1.3M	$4.4M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.69	+0.003%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.157%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0038%	8h	357.56	−0.035%	$365K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.39	−0.081%	$202K	$272K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.77	+0.025%	—	$5K	25x	as long as short
Bitget GOOGLUSDT	+0.0048%	8h	357.68	0.000%	$17.0M	$9.3M	100x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.47	−0.059%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.39	−0.081%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.51	−0.048%	$149	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.31	−0.103%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.65	−0.009%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.64	−0.010%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0057%	8h	357.68	−0.001%	$72.9M	$141.5M	50x	as long as short
Lighter GOOGL	+0.0088%	1h	357.70	+0.006%	$2.1M	$1.2M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.39	−0.081%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.17	−0.143%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.46	−0.062%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.50	−0.050%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.51	−0.048%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.47	−0.059%	$137K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAPlong	+0.0138%	8h	357.68	long leg	$13.8M	$12.4M	50x
edgeX GOOGLUSDC	+0.0644%	4h	357.54	−0.039%	$209K	$1.2M	10x	as long as short