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: Orderly against Phemex−0.053%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Orderly

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

Funding pays, the price is against you. Orderly is 0.053% cheaper against Phemex than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 42 hours of funding at the current rate (+$3 a day).

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

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice 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 Phemex: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$2.31
Costs to cover: 0.180%
Break-even: 7.8 days

Slippage unknown: Phemex: live order book, 4 min ago; Orderly: no order-book sample. 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 Phemex live order book, 4 min ago	1.12 bp	29.3 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	−0.056%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.63	−0.014%	$17.5M	$9.7M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.61	−0.020%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.40	−0.078%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.65	−0.008%	$115K	$216K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	357.68	long leg	$2.7M	$87K	10x
Nado GOOGL-PERP	+0.0007%	1h	357.43	−0.069%	$558K	$86K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	357.67	−0.003%	$522K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.50	−0.051%	$144K	$47K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0026%	8h	357.63	−0.014%	$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	−0.030%	$4.8M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.59	−0.025%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.157%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.36	−0.089%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.67	−0.003%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.41	−0.075%	$99.2M	$20.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.37	−0.087%	$685K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.40	−0.078%	$155	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.18	−0.140%	$2.3M	$4.9M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	357.52	−0.045%	$1.3M	$4.2M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0065%	8h	357.56	−0.034%	$293	$253	5x	as long as short
OKX GOOGL-USDT-SWAP	+0.0068%	8h	357.56	−0.034%	$13.7M	$12.5M	50x	as long as short
Aster GOOGLUSDT	+0.0082%	8h	357.53	−0.042%	$366K	$426K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.42	−0.074%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.48	−0.056%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.44	−0.067%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDCshort	+0.0100%	8h	357.49	−0.053%	$10K	$11K	20x
Binance GOOGLUSDT	+0.0102%	8h	357.61	−0.020%	$72.4M	$142.9M	50x	as long as short
Extended GOOGL-USD	+0.0104%	1h	357.52	−0.046%	$419K	$1.2M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0104%	1h	357.40	−0.078%	$33K	—	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.46	−0.063%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0179%	1h	357.50	−0.050%	$138K	$36K	20x	as long as short
Lighter GOOGL	+0.0192%	1h	357.61	−0.020%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0223%	8h	357.67	−0.003%	$693K	$235K	20x	as long as short
Bybit GOOGLUSDT	+0.0239%	8h	357.72	+0.011%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0954%	4h	357.60	−0.023%	$208K	$1.2M	10x	as long as short