Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.032%

Price spread now: Deribit against Orderly−0.045%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.045% cheaper against Orderly than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GOOGL_USDC	359.14	0.0100	pay 0.0100% / 8h	6h 10m	$10K	$11K	20x
Short	Deribit GOOGL_USDC-PERPETUAL	358.98	0	get 0.0000% / 1h	10m 26s	$25K	$148K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$21
Price spread: −0.045% → 0.000%: −$4.46
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$38.46
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 41 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 41 min ago	0.14 bp	9.7 bp −$10	12.8 bp −$128	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-INTX	−0.0056%	1h	358.00	−0.317%	$516K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	359.25	+0.031%	$13.5M	$13.5M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	359.06	−0.022%	$3.7M	$6.8M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	359.21	+0.019%	$17.5M	$9.4M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	359.26	+0.033%	$2K	$3.7M	20x	as long as short
Deribit GOOGL_USDC-PERPETUALshort	0.0000%	1h	358.98	−0.045%	$25K	$148K	10x
HTX GOOGL-USDT	0.0000%	8h	359.38	+0.067%	$115K	$211K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	359.29	+0.042%	$2.7M	$106K	10x	as long as short
Bybit GOOGLUSDT	+0.0001%	8h	359.17	+0.008%	$11.5M	$7.5M	100x	as long as short
Variational Omni GOOGL	+0.0009%	8h	359.20	+0.018%	$5.0M	$2.4M	—	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0029%	1h	358.71	−0.120%	$145K	$43K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	359.12	−0.006%	$1.3M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.562%	$128K	$45K	30x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	359.22	+0.022%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0048%	1h	359.12	−0.006%	$1.3M	$4.1M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	358.93	−0.058%	$98.4M	$21.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	359.04	−0.028%	$688K	$413K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	358.94	−0.056%	$111	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	358.71	−0.120%	$2.3M	$3.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0062%	8h	359.08	−0.017%	$294	$253	5x	as long as short
Aster GOOGLUSDT	+0.0063%	8h	358.95	−0.053%	$368K	$420K	20x	as long as short
Nado GOOGL-PERP	+0.0075%	1h	358.95	−0.053%	$553K	$81K	20x	as long as short
Extended GOOGL-USD	+0.0080%	1h	359.11	−0.010%	$426K	$2.4M	20x	as long as short
Arcus GOOGL-USD	+0.0081%	1h	358.98	−0.045%	$211K	$279K	10x	as long as short
Binance GOOGLUSDT	+0.0083%	8h	359.22	+0.022%	$73.2M	$141.7M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	359.13	−0.004%	$42K	$20K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	358.83	−0.086%	$3.0M	$228K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	358.65	−0.136%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	359.14	long leg	$10K	$11K	20x
Aevo GOOGL-PERP	+0.0104%	1h	359.09	−0.013%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	358.76	−0.106%	$138K	$36K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0144%	1h	358.93	−0.058%	$33K	—	20x	as long as short
Lighter GOOGL	+0.0184%	1h	359.14	0.000%	$2.0M	$2.2M	20x	as long as short
GRVT GOOGL_USDT_Perp	+0.0189%	8h	358.96	−0.049%	$23K	$447K	10x	as long as short
BloFin GOOGL-USDT	+0.0201%	8h	359.21	+0.019%	$689K	$241K	20x	as long as short
edgeX GOOGLUSDC	+0.0854%	4h	358.86	−0.078%	$209K	$1.2M	10x	as long as short