Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.026%

Price spread now: Phemex against Deribit+0.163%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$780.783% of the position

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.158%−$16 on $10k

Price spread, last 3 days (all we have)−0.082%−$8 · spread now +0.163%, 7d avg +0.069%

Together, before fees−0.241%−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.094% dearer against Deribit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOOGL_USDC-PERPETUAL	356.07	0	get 0.0000% / 1h	22m 35s	$23K	$153K	10x
Short	Phemex GOOGLUSDT	356.65	0	get 0.0000% / 4h	3h 22m	$2.7M	$66K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Deribit. 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 DeribitbpFee PhemexbpOrdersPrice spread, now +0.163%Rate

Funding earned: $0
Price spread: +0.163% → +0.069%: $9.43
Slippage, 4 orders: −$59.29
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$68.86
Costs to cover: 0.783%
Break-even: never at this rate

Slippage from Deribit: live order book, 51 min ago; Phemex: live order book, 6 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 Deribit live order book, 51 min ago	0.14 bp	12.8 bp −$13	16.3 bp −$163	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	1.54 bp	30.0 bp −$30	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
Hotstuff GOOGL-PERP	−0.0016%	1h	356.10	+0.008%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.22	+0.042%	$3.6M	$7.5M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.53	+0.129%	$23K	$452K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.26	+0.053%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUALlong	0.0000%	1h	356.07	long leg	$23K	$153K	10x
HTX GOOGL-USDT	0.0000%	8h	356.43	+0.101%	$114K	$226K	30x	as long as short
Phemex GOOGLUSDTshort	0.0000%	4h	356.65	+0.163%	$2.7M	$66K	10x
Aftermath Perps GOOGLUSD	+0.0014%	1h	356.16	+0.026%	$144K	$52K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.31	+0.067%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	355.85	−0.062%	$528K	$1.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.295%	$128K	$45K	30x	as long as short
Lighter GOOGL	+0.0040%	1h	356.21	+0.039%	$2.1M	$1.1M	20x	as long as short
Nado GOOGL-PERP	+0.0046%	1h	356.05	−0.006%	$556K	$80K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.30	+0.065%	—	$5K	25x	as long as short
Variational Omni GOOGL	+0.0049%	8h	356.48	+0.114%	$4.8M	$2.3M	—	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.11	+0.011%	$98.2M	$22.2M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.06	−0.003%	$683K	$441K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.11	+0.011%	$177	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.15	+0.022%	$2.2M	$4.8M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.19	+0.034%	$1.3M	$4.7M	10x	as long as short
Bitget GOOGLUSDT	+0.0072%	8h	356.42	+0.098%	$17.0M	$9.2M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0075%	8h	356.20	+0.035%	$292	$253	5x	as long as short
Aster GOOGLUSDT	+0.0090%	8h	356.43	+0.100%	$364K	$458K	20x	as long as short
Bybit GOOGLUSDT	+0.0096%	8h	356.33	+0.073%	$11.5M	$7.7M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.05	−0.006%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	355.91	−0.045%	$3.0M	$64K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.30	+0.065%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.11	+0.011%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.14	+0.018%	$25K	—	10x	as long as short
Binance GOOGLUSDT	+0.0111%	8h	356.27	+0.055%	$72.8M	$142.0M	50x	as long as short
Extended GOOGL-USD	+0.0112%	1h	356.17	+0.028%	$421K	$1.8M	20x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.41	+0.095%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0190%	8h	356.37	+0.084%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0233%	8h	356.31	+0.067%	$690K	$234K	20x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.18	+0.031%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0538%	4h	356.48	+0.114%	$209K	$1.2M	10x	as long as short