Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.017%

Price spread now: Phemex against Aftermath Perps+0.020%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$820.823% of the position

Long on Aftermath Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.015%+$1 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now +0.020%, 7d avg +0.076%

Together, before fees+0.094%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.057% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps GOOGLUSD	357.64	0.0022	pay 0.0003% / 1h	9m 23s	$144K	$44K	10x
Short	Phemex GOOGLUSDT	357.71	0	get 0.0000% / 4h	9m 23s	$2.7M	$88K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aftermath Perps. 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 Aftermath PerpsbpFee PhemexbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$4.65
Price spread: +0.020% → +0.076%: −$5.66
Slippage, 4 orders: −$61.26
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$92.57
Costs to cover: 0.823%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 30 min ago; Phemex: live order book, 4 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 Aftermath Perps live order book, 30 min ago	8.66 bp	13.2 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	0.98 bp	18.3 bp −$18	doesn't fit	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	−0.0048%	1h	357.09	−0.154%	$512K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0011%	1h	357.50	−0.040%	$550K	$88K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.67	+0.009%	$13.6M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.59	−0.014%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.78	+0.039%	$17.4M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.69	+0.014%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.74	+0.027%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.68	+0.011%	$2K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.48	−0.045%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.82	+0.051%	$115K	$209K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDTshort	0.0000%	4h	357.71	+0.020%	$2.7M	$88K	10x
Aster GOOGLUSDT	+0.0003%	8h	357.80	+0.044%	$367K	$422K	20x	as long as short
Aftermath Perps GOOGLUSDlong	+0.0022%	1h	357.64	long leg	$144K	$44K	10x
Extended GOOGL-USD	+0.0024%	1h	357.60	−0.012%	$427K	$2.5M	20x	as long as short
Binance GOOGLUSDT	+0.0026%	8h	357.68	+0.011%	$72.1M	$143.3M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.59	−0.014%	$1.4M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.145%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.58	−0.017%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.48	−0.045%	$208K	$279K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0041%	8h	357.16	−0.134%	$3.0M	$108K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.79	+0.042%	—	$5K	25x	as long as short
Hotstuff GOOGL-PERP	+0.0048%	1h	357.48	−0.045%	$33K	—	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.49	−0.042%	$98.2M	$21.3M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.42	−0.061%	$686K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.48	−0.045%	$136	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.40	−0.067%	$2.3M	$4.6M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.63	−0.003%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0078%	8h	357.70	+0.017%	$11.5M	$7.8M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.43	−0.059%	$42K	$26K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.54	−0.028%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.49	−0.042%	$10K	$11K	20x	as long as short
BloFin GOOGL-USDT	+0.0103%	8h	357.61	−0.008%	$687K	$236K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.54	−0.027%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.68	+0.011%	$2.0M	$1.4M	20x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.59	−0.014%	$138K	$36K	20x	as long as short
edgeX GOOGLUSDC	+0.0617%	4h	357.69	+0.015%	$209K	$1.2M	10x	as long as short