Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.044%

Price spread now: Bybit against Coinbase International+0.042%7-day average +0.148% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now +0.042%, 7d avg +0.148%

Together, before fees+0.099%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.106% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.042% now, against its 7-day average of +0.148%). If the spread goes back, that is −$11 on $10k: about 40 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.076% in total) that is about 9.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.076% in total (about 4.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOOGL-PERP-INTX	357.19	0.0016	pay 0.0002% / 1h	47m 00s	$521K	$1.1M	10x
Short	Bybit GOOGLUSDT	357.34	0.0228	get 0.0228% / 8h	2h 47m	$12.0M	$7.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.042%Rate

Funding earned: $44.45
Price spread: +0.042% → +0.148%: −$10.55
Slippage, 4 orders: −$10.81
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $2.09
Costs to cover: 0.318%
Break-even: 6.7 days

Slippage from Coinbase International: live order book, 1 min ago; Bybit: live order book, 1 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 Coinbase International live order book, 1 min ago	2.24 bp	7.6 bp −$8	10.8 bp −$108	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.28 bp	8.0 bp −$8	11.8 bp −$118	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
Gate GOOGL_USDT	0.0000%	8h	357.16	−0.008%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.27	+0.022%	$17.4M	$9.7M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.27	+0.022%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.97	−0.062%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.31	+0.034%	$115K	$215K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.40	+0.059%	$2.7M	$87K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0008%	8h	357.35	+0.045%	$24K	$447K	10x	as long as short
Variational Omni GOOGL	+0.0014%	8h	357.33	+0.040%	$4.8M	$2.4M	—	as long as short
Coinbase International GOOGL-PERP-INTXlong	+0.0016%	1h	357.19	long leg	$521K	$1.1M	10x
Aftermath Perps GOOGLUSD	+0.0023%	1h	357.16	−0.010%	$144K	$47K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado GOOGL-PERP	+0.0030%	1h	357.01	−0.051%	$557K	$86K	20x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.19	0.000%	$1.3M	$2.1M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0032%	1h	357.07	−0.034%	$33K	—	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.020%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.05	−0.039%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.23	+0.011%	—	$5K	25x	as long as short
OKX GOOGL-USDT-SWAP	+0.0047%	8h	357.18	−0.003%	$13.7M	$12.5M	50x	as long as short
QFEX GOOGL-USD	+0.0047%	1h	357.16	−0.008%	$1.3M	$4.3M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.02	−0.048%	$99.1M	$20.7M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.06	−0.036%	$685K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.01	−0.050%	$149	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.96	−0.064%	$2.3M	$4.9M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0067%	8h	357.19	−0.001%	$293	$253	5x	as long as short
Aster GOOGLUSDT	+0.0072%	8h	357.40	+0.060%	$366K	$426K	20x	as long as short
Extended GOOGL-USD	+0.0088%	1h	357.13	−0.016%	$424K	$1.2M	20x	as long as short
Binance GOOGLUSDT	+0.0092%	8h	357.23	+0.011%	$72.2M	$143.1M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.04	−0.042%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.01	−0.050%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.16	−0.008%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.13	−0.017%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.12	−0.019%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.21	+0.006%	$137K	$36K	20x	as long as short
Lighter GOOGL	+0.0144%	1h	357.19	0.000%	$2.0M	$1.3M	20x	as long as short
BloFin GOOGL-USDT	+0.0212%	8h	357.29	+0.028%	$694K	$235K	20x	as long as short
Bybit GOOGLUSDTshort	+0.0228%	8h	357.34	+0.042%	$12.0M	$7.5M	100x
edgeX GOOGLUSDC	+0.0457%	4h	357.23	+0.012%	$208K	$1.2M	10x	as long as short