Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0087%/8h= −9.6% APRpaid last 24h −0.065%

Price spread now: Phemex against BloFin+0.014%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$920.923% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.359%−$36 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.014%, 7d avg +0.015%

Together, before fees−0.367%−$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, 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	BloFin GOOGL-USDT	357.67	0.0087	pay 0.0087% / 8h	7h 35m	$686K	$234K	20x
Short	Phemex GOOGLUSDT	357.72	0	get 0.0000% / 4h	3h 35m	$2.7M	$91K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BloFin. 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 BloFinbpFee PhemexbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$18.37
Price spread: +0.014% → +0.015%: −$0.15
Slippage, 4 orders: −$68.34
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$110.86
Costs to cover: 0.923%
Break-even: never at this rate

Slippage from BloFin: live order book, 41 min ago; Phemex: live order book, 3 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 BloFin live order book, 41 min ago	0.14 bp	7.7 bp −$8	9.3 bp −$93	15.1 bp −$1,508	doesn't fit
Sell Phemex live order book, 3 min ago	1.26 bp	35.1 bp −$35	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	−0.0080%	1h	357.28	−0.109%	$517K	$1.1M	10x	as long as short
Aster GOOGLUSDT	0.0000%	8h	357.81	+0.039%	$367K	$422K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.58	−0.025%	$13.5M	$12.9M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.58	−0.025%	$3.6M	$7.1M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.78	+0.031%	$17.3M	$9.6M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.63	−0.012%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.57	−0.028%	$23K	$431K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.70	+0.008%	$1K	$3.9M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.49	−0.050%	$24K	$148K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.79	+0.034%	$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	357.72	+0.014%	$2.7M	$91K	10x
Binance GOOGLUSDT	+0.0022%	8h	357.67	0.000%	$72.3M	$141.3M	50x	as long as short
Extended GOOGL-USD	+0.0024%	1h	357.58	−0.026%	$424K	$2.5M	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0030%	1h	357.48	−0.053%	$144K	$44K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.59	−0.022%	$1.4M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.154%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	357.57	−0.028%	$1.3M	$4.1M	10x	as long as short
Hotstuff GOOGL-PERP	+0.0040%	1h	357.30	−0.103%	$33K	—	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.42	−0.070%	$209K	$280K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.72	+0.014%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.47	−0.056%	$98.4M	$21.3M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.36	−0.087%	$685K	$415K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.47	−0.056%	$118	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.18	−0.137%	$2.3M	$4.1M	15x	as long as short
Nado GOOGL-PERP	+0.0054%	1h	357.45	−0.061%	$550K	$88K	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0058%	8h	357.58	−0.026%	$293	$253	5x	as long as short
KuCoin GOOGLUSDTM	+0.0058%	8h	357.24	−0.120%	$3.0M	$142K	20x	as long as short
Bybit GOOGLUSDT	+0.0072%	8h	357.66	−0.003%	$11.5M	$7.6M	100x	as long as short
BloFin GOOGL-USDTlong	+0.0087%	8h	357.67	long leg	$686K	$234K	20x
Phoenix GOOGL	+0.0090%	1h	357.36	−0.087%	$137K	$36K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.37	−0.083%	$42K	$26K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.37	−0.084%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.53	−0.039%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.49	−0.051%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0208%	1h	357.63	−0.011%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0385%	4h	357.49	−0.049%	$209K	$1.2M	10x	as long as short