Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.038%

Price spread now: Phoenix against Phemex−0.067%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$570.570% of the position

Long on Phemex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.184%+$18 on $10k

Price spread, last 3 days (all we have)−0.059%−$6 · spread now −0.067%, 7d avg −0.082%

Together, before fees+0.125%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.082%, so right now this pair is about funding alone: +$3 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	357.71	0	get 0.0000% / 4h	1h 51m	$2.7M	$75K	10x
Short	Phoenix GOOGL	357.47	0.0112	get 0.0014% / 1h	51m 06s	$137K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.067%Rate

Funding earned: $23.51
Price spread: −0.067% → −0.082%: $1.51
Slippage, 4 orders: −$38.01
Fee Phemex: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$31.99
Costs to cover: 0.570%
Break-even: 16.5 days

Slippage from Phemex: live order book, 3 min ago; Phoenix: live order book, 5 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, 3 min ago	2.94 bp	17.5 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 5 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	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
Nado GOOGL-PERP	−0.0067%	1h	357.54	−0.046%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.29	−0.117%	$523K	$1.1M	10x	as long as short
Deribit GOOGL_USDC-PERPETUAL	−0.0030%	1h	357.36	−0.098%	$23K	$154K	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.57	−0.039%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.62	−0.026%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.60	−0.031%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.68	−0.008%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.76	+0.014%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	357.71	long leg	$2.7M	$75K	10x
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.38	−0.093%	$144K	$50K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff GOOGL-PERP	+0.0016%	1h	357.42	−0.081%	$33K	—	20x	as long as short
Bybit GOOGLUSDT	+0.0025%	8h	357.71	0.000%	$11.7M	$7.5M	100x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.55	−0.045%	$1.3M	$4.4M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.67	−0.011%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.165%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0039%	8h	357.56	−0.042%	$365K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.37	−0.095%	$202K	$272K	10x	as long as short
Bitget GOOGLUSDT	+0.0045%	8h	357.68	−0.008%	$17.0M	$9.3M	100x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.77	+0.017%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.47	−0.067%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.39	−0.089%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.51	−0.056%	$149	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.24	−0.131%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.66	−0.014%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.58	−0.038%	$421K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0058%	8h	357.66	−0.013%	$72.9M	$141.5M	50x	as long as short
Lighter GOOGL	+0.0088%	1h	357.69	−0.006%	$2.1M	$1.2M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.40	−0.085%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.15	−0.157%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.46	−0.070%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.50	−0.059%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.51	−0.056%	$25K	—	10x	as long as short
Phoenix GOOGLshort	+0.0112%	1h	357.47	−0.067%	$137K	$36K	20x
OKX GOOGL-USDT-SWAP	+0.0138%	8h	357.67	−0.011%	$13.8M	$12.4M	50x	as long as short
edgeX GOOGLUSDC	+0.0644%	4h	357.54	−0.047%	$209K	$1.2M	10x	as long as short