Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.017%

Price spread now: tradeXYZ against Phemex−0.073%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$550.549% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 4 days (all we have)−0.305%−$31 · spread now −0.073%, 7d avg −0.105%

Together, before fees−0.199%+ Points / potential airdroptradeXYZ: Active · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.032% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	357.98	0	get 0.0000% / 4h	1h 00m	$2.7M	$81K	10x
Short	tradeXYZ xyz:GOOGL	357.72	0.0050	get 0.0006% / 1h	0m 09s	$99.1M	$21.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.073%Rate

Funding earned: $10.5
Price spread: −0.073% → −0.105%: $3.24
Slippage, 4 orders: −$24.91
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$41.16
Costs to cover: 0.549%
Break-even: 34.4 days

Slippage from Phemex: live order book, 3 min ago; tradeXYZ: live order book, 10 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	2.38 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.14 bp	9.5 bp −$10	12.4 bp −$124	doesn't fit	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
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.46	−0.145%	$524K	$1.1M	10x	as long as short
Hotstuff GOOGL-PERP	−0.0016%	1h	357.76	−0.061%	$33K	—	20x	as long as short
Nado GOOGL-PERP	−0.0007%	1h	357.72	−0.074%	$558K	$80K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.84	−0.039%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.90	−0.022%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.93	−0.014%	$23K	$436K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.99	+0.003%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.70	−0.078%	$24K	$155K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	358.00	+0.006%	$115K	$221K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	357.98	long leg	$2.7M	$81K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0006%	1h	357.62	−0.100%	$144K	$49K	10x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.89	−0.025%	$1.3M	$4.3M	10x	as long as short
Aster GOOGLUSDT	+0.0031%	8h	357.71	−0.076%	$366K	$457K	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.96	−0.006%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.240%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.65	−0.092%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.92	−0.017%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGLshort	+0.0050%	1h	357.72	−0.073%	$99.1M	$21.1M	20x
Polymarket Perps GOOG-USD	+0.0050%	1h	357.69	−0.081%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.73	−0.070%	$155	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.66	−0.089%	$2.3M	$4.9M	15x	as long as short
Binance GOOGLUSDT	+0.0052%	8h	357.98	0.000%	$73.1M	$141.4M	50x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.89	−0.024%	$426K	$1.8M	20x	as long as short
Bitget GOOGLUSDT	+0.0059%	8h	358.02	+0.011%	$17.5M	$9.6M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0079%	8h	357.89	−0.024%	$293	$253	5x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.95	−0.008%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.45	−0.148%	$3.0M	$73K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.61	−0.103%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.79	−0.053%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.81	−0.047%	$25K	—	10x	as long as short
OKX GOOGL-USDT-SWAP	+0.0108%	8h	357.95	−0.008%	$13.8M	$12.4M	50x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.78	−0.056%	$138K	$36K	20x	as long as short
Bybit GOOGLUSDT	+0.0119%	8h	358.11	+0.036%	$12.0M	$7.6M	100x	as long as short
BloFin GOOGL-USDT	+0.0170%	8h	357.94	−0.011%	$697K	$234K	20x	as long as short
Lighter GOOGL	+0.0176%	1h	357.99	+0.003%	$2.1M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0510%	4h	357.91	−0.018%	$209K	$1.2M	10x	as long as short