Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0187%/8h= +20.5% APRpaid last 24h +0.089%

Price spread now: BloFin against Phemex−0.039%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$640.645% of the position

Long on Phemex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.351%+$35 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.039%, 7d avg −0.015%

Together, before fees+0.374%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.024% cheaper against Phemex than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of −0.015%). If the spread goes back, that is −$2 on $10k: about 10 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	357.54	0	get 0.0000% / 4h	2h 09m	$2.7M	$87K	10x
Short	BloFin GOOGL-USDT	357.40	0.0187	get 0.0187% / 8h	2h 09m	$685K	$236K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.039%Rate

Funding earned: $39.25
Price spread: −0.039% → −0.015%: −$2.38
Slippage, 4 orders: −$40.49
Fee Phemex: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$27.63
Costs to cover: 0.645%
Break-even: 11.9 days

Slippage from Phemex: live order book, 5 min ago; BloFin: live order book, 18 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	1.40 bp	23.5 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 18 min ago	0.56 bp	7.4 bp −$7	9.2 bp −$92	21.3 bp −$2,130	doesn't fit

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
Nado GOOGL-PERP	−0.0023%	1h	357.24	−0.084%	$557K	$86K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.40	−0.039%	$13.7M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.30	−0.067%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.44	−0.028%	$17.3M	$9.9M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.45	−0.024%	$4.7M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.48	−0.018%	$23K	$446K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.45	−0.025%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.19	−0.098%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.48	−0.017%	$115K	$213K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	357.54	long leg	$2.7M	$87K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	356.88	−0.185%	$519K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0019%	1h	357.26	−0.077%	$144K	$47K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.34	−0.056%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.117%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.17	−0.103%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.49	−0.014%	—	$5K	25x	as long as short
Aster GOOGLUSDT	+0.0046%	8h	357.46	−0.023%	$366K	$426K	20x	as long as short
QFEX GOOGL-USD	+0.0047%	1h	357.34	−0.056%	$1.3M	$4.2M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.12	−0.117%	$98.2M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.16	−0.106%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.21	−0.092%	$159	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.19	−0.098%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0058%	8h	357.36	−0.051%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0064%	1h	357.27	−0.077%	$422K	$1.2M	20x	as long as short
Binance GOOGLUSDT	+0.0067%	8h	357.35	−0.054%	$72.1M	$143.7M	50x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	357.18	−0.101%	$33K	—	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.18	−0.101%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.90	−0.179%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.30	−0.067%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.22	−0.090%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.30	−0.068%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.35	−0.053%	$2.0M	$1.3M	20x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.29	−0.070%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDTshort	+0.0187%	8h	357.40	−0.039%	$685K	$236K	20x
Bybit GOOGLUSDT	+0.0199%	8h	357.46	−0.022%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0578%	4h	357.45	−0.024%	$208K	$1.2M	10x	as long as short