Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.001%

Price spread now: Injective against Orderly−0.036%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 Injective

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 −$2 a day on $10k at the current rate, and Injective is 0.036% 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	357.25	0.0100	pay 0.0100% / 8h	34m 47s	$10K	$11K	20x
Short	Injective GOOGL/USDC PERP	357.12	0.0033	get 0.0004% / 1h	34m 47s	$128K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.036%Rate

Funding earned: −$14
Price spread: −0.036% → 0.000%: −$3.64
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$23.66
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Injective: live order book, 4 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 Injective live order book, 4 min ago	9.93 bp	9.9 bp −$10	9.9 bp −$99	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 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	356.60	−0.182%	$511K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.45	+0.056%	$13.6M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.30	+0.014%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.56	+0.087%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.35	+0.027%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.42	+0.048%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.43	+0.050%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.12	−0.036%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.56	+0.087%	$115K	$210K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.44	+0.053%	$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	+0.0011%	1h	357.26	+0.002%	$549K	$91K	20x	as long as short
Aster GOOGLUSDT	+0.0014%	8h	357.53	+0.079%	$366K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0024%	1h	357.23	−0.005%	$144K	$45K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.46	+0.059%	$1.4M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	357.44	+0.053%	$427K	$2.5M	20x	as long as short
Injective GOOGL/USDC PERPshort	+0.0033%	1h	357.12	−0.036%	$128K	$45K	30x
QFEX GOOGL-USD	+0.0035%	1h	357.36	+0.031%	$1.3M	$4.1M	10x	as long as short
Binance GOOGLUSDT	+0.0036%	8h	357.54	+0.081%	$72.1M	$143.4M	50x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.12	−0.036%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.50	+0.070%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.33	+0.022%	$98.2M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.17	−0.022%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.22	−0.008%	$142	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.03	−0.062%	$2.3M	$4.7M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.38	+0.035%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0064%	8h	357.03	−0.062%	$3.0M	$101K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.17	−0.021%	$42K	$35K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.13	−0.034%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	357.25	long leg	$10K	$11K	20x
Aevo GOOGL-PERP	+0.0104%	1h	357.29	+0.011%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0105%	8h	357.53	+0.078%	$11.5M	$7.9M	100x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.08	−0.048%	$137K	$36K	20x	as long as short
Hotstuff GOOGL-PERP	+0.0120%	1h	357.22	−0.008%	$33K	—	20x	as long as short
BloFin GOOGL-USDT	+0.0144%	8h	357.46	+0.059%	$687K	$236K	20x	as long as short
Lighter GOOGL	+0.0152%	1h	357.50	+0.070%	$2.0M	$1.4M	20x	as long as short
edgeX GOOGLUSDC	+0.0627%	4h	357.28	+0.009%	$208K	$1.2M	10x	as long as short