Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against Orderly+0.053%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 Phemex

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

The price spread pays, funding is against you. Phemex is 0.053% dearer against Orderly than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GOOGL_USDC	357.49	0.0100	pay 0.0100% / 8h	3h 04m	$10K	$11K	20x
Short	Phemex GOOGLUSDT	357.68	0	get 0.0000% / 4h	3h 04m	$2.7M	$87K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$21
Price spread: +0.053% → 0.000%: $5.31
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$33.69
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Phemex: 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 Phemex live order book, 4 min ago	1.12 bp	38.6 bp −$39	doesn't fit	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
Gate GOOGL_USDT	0.0000%	8h	357.48	−0.003%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.63	+0.039%	$17.5M	$9.7M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.61	+0.034%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.40	−0.025%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.65	+0.045%	$115K	$216K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	357.68	+0.053%	$2.7M	$87K	10x
Nado GOOGL-PERP	+0.0007%	1h	357.43	−0.016%	$558K	$86K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.67	+0.050%	$522K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.50	+0.002%	$144K	$47K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0026%	8h	357.63	+0.039%	$24K	$442K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GOOGL	+0.0029%	8h	357.57	+0.023%	$4.8M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.59	+0.028%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.103%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.36	−0.036%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.67	+0.050%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.41	−0.022%	$99.2M	$20.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.37	−0.034%	$685K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.40	−0.025%	$155	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.18	−0.087%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.52	+0.008%	$1.3M	$4.2M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0065%	8h	357.56	+0.019%	$293	$253	5x	as long as short
OKX GOOGL-USDT-SWAP	+0.0068%	8h	357.56	+0.020%	$13.7M	$12.5M	50x	as long as short
Aster GOOGLUSDT	+0.0082%	8h	357.53	+0.011%	$366K	$426K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.42	−0.020%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.48	−0.003%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.44	−0.014%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	357.49	long leg	$10K	$11K	20x
Binance GOOGLUSDT	+0.0102%	8h	357.61	+0.033%	$72.4M	$142.9M	50x	as long as short
Extended GOOGL-USD	+0.0104%	1h	357.52	+0.008%	$419K	$1.2M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0104%	1h	357.40	−0.025%	$33K	—	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.46	−0.009%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0179%	1h	357.50	+0.003%	$138K	$36K	20x	as long as short
Lighter GOOGL	+0.0192%	1h	357.61	+0.034%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0223%	8h	357.67	+0.050%	$693K	$235K	20x	as long as short
Bybit GOOGLUSDT	+0.0239%	8h	357.72	+0.064%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0954%	4h	357.60	+0.030%	$208K	$1.2M	10x	as long as short