Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h −0.006%

Price spread now: Lighter against Bybit−0.008%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$180.185% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.008%, 7d avg −0.037%

Together, before fees+0.135%+ Points / potential airdropLighter: Season 3 · farm board+$14 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 Lighter is 0.029% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GOOGLUSDT	357.81	0.0024	pay 0.0024% / 8h	5h 48m	$11.8M	$7.5M	100x
Short	Lighter GOOGL	357.78	0.0088	get 0.0011% / 1h	48m 29s	$2.1M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.008%Rate

Funding earned: $13.36
Price spread: −0.008% → −0.037%: $2.88
Slippage, 4 orders: −$7.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.22
Costs to cover: 0.185%
Break-even: 8.2 days

Slippage from Bybit: live order book, 5 min ago; Lighter: live order book, 8 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, 5 min ago	0.14 bp	8.9 bp −$9	14.5 bp −$145	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.56 bp	0.8 bp −$1	4.0 bp −$40	104.2 bp −$10.4K	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
Deribit GOOGL_USDC-PERPETUAL	−0.0337%	1h	357.33	−0.134%	$23K	$154K	10x	as long as short
Nado GOOGL-PERP	−0.0067%	1h	357.59	−0.060%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.29	−0.145%	$523K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.63	−0.050%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.62	−0.054%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.65	−0.046%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.75	−0.017%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.85	+0.011%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.77	−0.011%	$2.7M	$75K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.39	−0.117%	$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
Bybit GOOGLUSDTlong	+0.0024%	8h	357.81	long leg	$11.8M	$7.5M	100x
QFEX GOOGL-USD	+0.0028%	1h	357.62	−0.053%	$1.3M	$4.4M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.76	−0.014%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.193%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0036%	8h	357.65	−0.045%	$366K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.43	−0.106%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.84	+0.008%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.54	−0.075%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.40	−0.115%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.53	−0.078%	$147	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.32	−0.137%	$2.3M	$4.8M	15x	as long as short
Bitget GOOGLUSDT	+0.0053%	8h	357.72	−0.025%	$17.0M	$9.3M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.72	−0.024%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.66	−0.043%	$421K	$1.8M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	357.54	−0.075%	$33K	—	20x	as long as short
Binance GOOGLUSDT	+0.0056%	8h	357.76	−0.014%	$72.9M	$141.5M	50x	as long as short
Lighter GOOGLshort	+0.0088%	1h	357.78	−0.008%	$2.1M	$1.2M	20x
Pacifica GOOGL	+0.0100%	1h	357.47	−0.094%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.28	−0.148%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.46	−0.098%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.56	−0.070%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.57	−0.068%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.54	−0.075%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0135%	8h	357.72	−0.025%	$13.8M	$12.4M	50x	as long as short
edgeX GOOGLUSDC	+0.0644%	4h	357.54	−0.075%	$209K	$1.2M	10x	as long as short