Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h +0.021%

Price spread now: Lighter against Orderly+0.036%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.036% dearer against Orderly than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GOOGL_USDC	357.57	0.0100	pay 0.0100% / 8h	5h 50m	$10K	$10K	20x
Short	Lighter GOOGL	357.70	0.0088	get 0.0011% / 1h	50m 23s	$2.1M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$2.52
Price spread: +0.036% → 0.000%: $3.64
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.88
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 6 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 Lighter live order book, 6 min ago	0.56 bp	0.8 bp −$1	4.0 bp −$40	104.2 bp −$10.4K	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 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
Deribit GOOGL_USDC-PERPETUAL	−0.0170%	1h	357.39	−0.050%	$23K	$154K	10x	as long as short
Nado GOOGL-PERP	−0.0068%	1h	357.53	−0.010%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.29	−0.078%	$523K	$1.1M	10x	as long as short
Hotstuff GOOGL-PERP	−0.0024%	1h	357.47	−0.028%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.59	+0.006%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.62	+0.013%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.60	+0.008%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.75	+0.050%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.87	+0.084%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.78	+0.059%	$2.7M	$75K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.39	−0.050%	$144K	$50K	10x	as long as short
Bybit GOOGLUSDT	+0.0027%	8h	357.81	+0.067%	$11.8M	$7.5M	100x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.60	+0.008%	$1.3M	$4.4M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.69	+0.034%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.126%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0038%	8h	357.59	+0.006%	$366K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.39	−0.050%	$202K	$272K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.81	+0.067%	—	$5K	25x	as long as short
Bitget GOOGLUSDT	+0.0048%	8h	357.68	+0.031%	$17.0M	$9.3M	100x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.55	−0.006%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.38	−0.053%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.54	−0.008%	$147	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.31	−0.073%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.65	+0.021%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.61	+0.010%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0057%	8h	357.75	+0.050%	$72.9M	$141.5M	50x	as long as short
Lighter GOOGLshort	+0.0088%	1h	357.70	+0.036%	$2.1M	$1.2M	20x
Pacifica GOOGL	+0.0100%	1h	357.39	−0.050%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.19	−0.106%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.46	−0.031%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	357.57	long leg	$10K	$10K	20x
Aevo GOOGL-PERP	+0.0104%	1h	357.55	−0.005%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.47	−0.028%	$137K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0137%	8h	357.68	+0.031%	$13.8M	$12.4M	50x	as long as short
edgeX GOOGLUSDC	+0.0644%	4h	357.54	−0.008%	$209K	$1.2M	10x	as long as short