Funding arb · Price arb /

GOOGL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.034%

Price spread now: Arcus against Phemex−0.070%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$750.746% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.120%+$12 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now −0.070%, 7d avg −0.087%

Together, before fees+0.086%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.087%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	357.21	0	get 0.0000% / 4h	2h 13m	$2.7M	$73K	10x
Short	Arcus GOOGL-USD	356.96	0.0040	get 0.0005% / 1h	13m 50s	$202K	$272K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phemex. 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 PhemexbpFee ArcusbpOrdersPrice spread, now −0.070%Rate

Funding earned: $8.46
Price spread: −0.070% → −0.087%: $1.74
Slippage, 4 orders: −$58.08
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$64.38
Costs to cover: 0.746%
Break-even: 60.3 days

Slippage from Phemex: live order book, 5 min ago; Arcus: live order book, 55 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 Phemex live order book, 5 min ago	2.66 bp	25.1 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 55 min ago	2.11 bp	8.5 bp −$8	10.5 bp −$105	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
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.86	−0.098%	$523K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0022%	1h	357.04	−0.048%	$557K	$81K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.17	−0.011%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.15	−0.017%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.05	−0.045%	$23K	$438K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.23	+0.006%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.03	−0.050%	$23K	$154K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.33	+0.034%	$115K	$228K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	357.21	long leg	$2.7M	$73K	10x
Aftermath Perps GOOGLUSD	+0.0006%	1h	356.88	−0.091%	$144K	$51K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GOOGLUSDT	+0.0011%	8h	357.23	+0.006%	$17.0M	$9.3M	100x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.23	+0.006%	$1.3M	$2.4M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.025%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	357.13	−0.022%	$1.3M	$4.4M	10x	as long as short
Arcus GOOGL-USDshort	+0.0040%	1h	356.96	−0.070%	$202K	$272K	10x
Vest GOOGL-USD-PERP	+0.0046%	1h	357.30	+0.025%	—	$5K	25x	as long as short
Hotstuff GOOGL-PERP	+0.0048%	1h	357.08	−0.036%	$33K	—	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.07	−0.039%	$98.9M	$22.6M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.91	−0.084%	$684K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.10	−0.031%	$147	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.86	−0.098%	$2.3M	$4.9M	15x	as long as short
Aster GOOGLUSDT	+0.0054%	8h	357.11	−0.028%	$365K	$458K	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0058%	8h	357.17	−0.012%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0072%	1h	357.16	−0.014%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0074%	8h	357.23	+0.004%	$72.8M	$141.5M	50x	as long as short
Lighter GOOGL	+0.0080%	1h	357.22	+0.003%	$2.1M	$1.2M	20x	as long as short
Bybit GOOGLUSDT	+0.0089%	8h	357.28	+0.020%	$11.6M	$7.5M	100x	as long as short
Phoenix GOOGL	+0.0090%	1h	357.14	−0.020%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.96	−0.069%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.76	−0.126%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.01	−0.056%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.03	−0.050%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.02	−0.053%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0164%	8h	357.18	−0.008%	$13.8M	$12.8M	50x	as long as short
edgeX GOOGLUSDC	+0.0399%	4h	357.01	−0.055%	$208K	$1.2M	10x	as long as short