Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.042%

Price spread now: Coinbase International against Bybit−0.115%54s7-day average −0.147% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as 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−$310.309% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now −0.115%, 7d avg −0.147%

Together, before fees−0.043%−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.032% dearer against Bybit than usual: you sell high and buy low (spread −0.115% now, against its 7-day average of −0.147%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.074% in total) that is about 3.0 days. The two prices were read 54 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	Bybit GOOGLUSDT	357.70	0.0025	pay 0.0025% / 8h	5h 51m	$11.7M	$7.5M	100x
Short	Coinbase International GOOGL-PERP-INTX	357.29	−0.0064	pay 0.0008% / 1h	51m 26s	$523K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.115%Rate

Funding earned: −$18.77
Price spread: −0.115% → −0.147%: $3.19
Slippage, 4 orders: −$9.89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$46.46
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Coinbase International: live order book, 2 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 Bybit live order book, 2 min ago	0.14 bp	8.9 bp −$9	14.5 bp −$145	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	0.14 bp	5.7 bp −$6	9.0 bp −$90	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	−0.043%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTXshort	−0.0064%	1h	357.29	−0.115%	$523K	$1.1M	10x
Deribit GOOGL_USDC-PERPETUAL	−0.0030%	1h	357.36	−0.095%	$23K	$154K	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.57	−0.036%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.58	−0.035%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.60	−0.028%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.58	−0.034%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.76	+0.017%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.74	+0.011%	$2.7M	$75K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.38	−0.091%	$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	−0.078%	$33K	—	20x	as long as short
Bybit GOOGLUSDTlong	+0.0025%	8h	357.70	long leg	$11.7M	$7.5M	100x
QFEX GOOGL-USD	+0.0028%	1h	357.55	−0.042%	$1.3M	$4.4M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.69	−0.003%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.162%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0039%	8h	357.56	−0.039%	$365K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.37	−0.092%	$202K	$272K	10x	as long as short
Bitget GOOGLUSDT	+0.0045%	8h	357.68	−0.006%	$17.0M	$9.3M	100x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.77	+0.020%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.47	−0.064%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.39	−0.087%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.48	−0.062%	$147	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.24	−0.129%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.66	−0.011%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0058%	8h	357.67	−0.007%	$72.9M	$141.5M	50x	as long as short
Extended GOOGL-USD	+0.0064%	1h	357.55	−0.042%	$421K	$1.8M	20x	as long as short
Lighter GOOGL	+0.0080%	1h	357.71	+0.003%	$2.1M	$1.2M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.40	−0.083%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.17	−0.148%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.46	−0.067%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.50	−0.056%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.51	−0.053%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.47	−0.064%	$137K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0138%	8h	357.67	−0.008%	$13.8M	$12.4M	50x	as long as short
edgeX GOOGLUSDC	+0.0644%	4h	357.54	−0.044%	$209K	$1.2M	10x	as long as short