Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.018%

Price spread now: Phoenix against Bybit−0.078%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 4 days (all we have)−0.069%−$7 · spread now −0.078%, 7d avg −0.077%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.077%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.066%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GOOGLUSDT	357.86	0.0186	pay 0.0186% / 8h	4h 35m	$12.0M	$7.6M	100x
Short	Phoenix GOOGL	357.58	0.0112	get 0.0014% / 1h	35m 09s	$138K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$15.51
Price spread: −0.078% → −0.077%: −$0.14
Slippage, 4 orders: −$14.19
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$47.84
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Phoenix: live order book, 16 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, 3 min ago	0.14 bp	7.3 bp −$7	12.5 bp −$125	doesn't fit	doesn't fit
Sell Phoenix live order book, 16 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	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	357.54	−0.089%	$526K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.66	−0.056%	$3.6M	$7.4M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.72	−0.038%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.79	−0.020%	$23K	$435K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.78	−0.022%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.48	−0.106%	$24K	$155K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.86	0.000%	$115K	$221K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.86	0.000%	$2.7M	$86K	10x	as long as short
Bitget GOOGLUSDT	+0.0005%	8h	357.81	−0.014%	$17.5M	$9.6M	100x	as long as short
Aftermath Perps GOOGLUSD	+0.0014%	1h	357.61	−0.071%	$144K	$49K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH GOOGL	+0.0032%	1h	357.80	−0.017%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.207%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.44	−0.117%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.74	−0.034%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0050%	1h	357.66	−0.056%	$1.3M	$4.2M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.53	−0.092%	$99.1M	$20.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.50	−0.101%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.55	−0.087%	$151	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.40	−0.129%	$2.3M	$4.9M	15x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	357.55	−0.087%	$33K	—	20x	as long as short
Aster GOOGLUSDT	+0.0057%	8h	357.89	+0.010%	$366K	$457K	20x	as long as short
Binance GOOGLUSDT	+0.0077%	8h	357.78	−0.024%	$73.1M	$141.3M	50x	as long as short
Extended GOOGL-USD	+0.0080%	1h	357.69	−0.047%	$426K	$1.8M	20x	as long as short
Nado GOOGL-PERP	+0.0094%	1h	357.51	−0.098%	$558K	$80K	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.70	−0.044%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.32	−0.151%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.48	−0.106%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.59	−0.075%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.62	−0.066%	$25K	—	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0107%	8h	357.67	−0.053%	$293	$253	5x	as long as short
Phoenix GOOGLshort	+0.0112%	1h	357.58	−0.078%	$138K	$36K	20x
OKX GOOGL-USDT-SWAP	+0.0113%	8h	357.71	−0.042%	$13.8M	$12.4M	50x	as long as short
Bybit GOOGLUSDTlong	+0.0186%	8h	357.86	long leg	$12.0M	$7.6M	100x
BloFin GOOGL-USDT	+0.0197%	8h	357.74	−0.034%	$695K	$234K	20x	as long as short
Lighter GOOGL	+0.0296%	1h	357.77	−0.025%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0572%	4h	357.70	−0.045%	$209K	$1.2M	10x	as long as short