Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h +0.012%

Price spread now: Aster against Phoenix+0.027%75s7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.548% of the position

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.027%, 7d avg +0.067%

Together, before fees−0.039%+ Points / potential airdropAster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.040% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.067%). Swap the legs. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOOGL	356.91	0.0090	pay 0.0011% / 1h	44m 10s	$137K	$36K	20x
Short	Aster GOOGLUSDT	357.01	0.0035	get 0.0035% / 8h	1h 44m	$365K	$424K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$11.47
Price spread: +0.027% → +0.067%: −$4.03
Slippage, 4 orders: −$39.79
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$70.29
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from Phoenix: live order book, 57 min ago; Aster: live order book, 63 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 Phoenix live order book, 57 min ago	3.08 bp	9.2 bp −$9	19.7 bp −$197	doesn't fit	doesn't fit
Sell Aster live order book, 63 min ago	3.64 bp	8.5 bp −$8	10.7 bp −$107	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
Hotstuff GOOGL-PERP	−0.0024%	1h	356.73	−0.050%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0024%	1h	356.60	−0.087%	$511K	$1.1M	10x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	356.82	−0.025%	$13.6M	$13.0M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.74	−0.048%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.00	+0.025%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	356.94	+0.009%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.01	+0.028%	$23K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.88	−0.008%	$2K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.61	−0.084%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.96	+0.014%	$115K	$212K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDT	0.0000%	4h	357.06	+0.042%	$2.7M	$87K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0024%	1h	356.73	−0.049%	$144K	$46K	10x	as long as short
Nado GOOGL-PERP	+0.0024%	1h	356.64	−0.077%	$549K	$90K	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.80	−0.031%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.059%	$128K	$45K	30x	as long as short
Aster GOOGLUSDTshort	+0.0035%	8h	357.01	+0.027%	$365K	$424K	20x
QFEX GOOGL-USD	+0.0038%	1h	356.78	−0.036%	$1.2M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.69	−0.062%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.90	−0.003%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.66	−0.070%	$98.0M	$21.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.60	−0.087%	$684K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.63	−0.078%	$155	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.39	−0.146%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0055%	8h	356.77	−0.038%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0056%	1h	356.79	−0.033%	$422K	$1.2M	20x	as long as short
Binance GOOGLUSDT	+0.0057%	8h	356.87	−0.011%	$72.0M	$143.7M	50x	as long as short
Phoenix GOOGLlong	+0.0090%	1h	356.91	long leg	$137K	$36K	20x
Pacifica GOOGL	+0.0100%	1h	356.67	−0.068%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.60	−0.087%	$3.0M	$103K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.86	−0.014%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.70	−0.059%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.73	−0.052%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0136%	1h	356.85	−0.017%	$2.0M	$1.3M	20x	as long as short
Bybit GOOGLUSDT	+0.0175%	8h	356.93	+0.006%	$11.9M	$7.5M	100x	as long as short
BloFin GOOGL-USDT	+0.0177%	8h	356.88	−0.008%	$689K	$235K	20x	as long as short
edgeX GOOGLUSDC	+0.0779%	4h	356.94	+0.009%	$208K	$1.2M	10x	as long as short