Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0548%/8h= −60.0% APRpaid last 24h −0.184%

Price spread now: Lighter against edgeX+0.067%79s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as 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−$180.178% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.067%, 7d avg +0.006%

Together, before fees+0.086%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.060% dearer against edgeX than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of +0.006%): +$6 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 9 hours. Mind the row above: over the last 7 days funding on this pair paid +0.124%, so the current rate has only just turned against you. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.124% in total (about 6.5% 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	edgeX GOOGLUSDC	357.54	0.0644	pay 0.0322% / 4h	1h 47m	$209K	$1.2M	10x
Short	Lighter GOOGL	357.78	0.0096	get 0.0012% / 1h	47m 44s	$2.1M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$115.16
Price spread: +0.067% → +0.006%: $6.02
Slippage, 4 orders: −$8.81
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$126.94
Costs to cover: 0.178%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; Lighter: live order book, 9 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 edgeX live order book, 1 min ago	3.36 bp	8.1 bp −$8	11.1 bp −$111	doesn't fit	doesn't fit
Sell Lighter live order book, 9 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	−0.0365%	1h	357.32	−0.062%	$23K	$154K	10x	as long as short
Nado GOOGL-PERP	−0.0067%	1h	357.59	+0.015%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0064%	1h	357.29	−0.070%	$523K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.63	+0.025%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.62	+0.021%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.65	+0.030%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.75	+0.058%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.88	+0.095%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.76	+0.061%	$2.7M	$75K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.41	−0.036%	$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 GOOGLUSDT	+0.0024%	8h	357.81	+0.075%	$11.8M	$7.5M	100x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.62	+0.022%	$1.3M	$4.4M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.76	+0.061%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.118%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0036%	8h	357.64	+0.029%	$366K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.43	−0.031%	$208K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.84	+0.083%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.54	0.000%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.40	−0.040%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.54	0.000%	$147	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.32	−0.062%	$2.3M	$4.8M	15x	as long as short
Bitget GOOGLUSDT	+0.0053%	8h	357.71	+0.047%	$17.0M	$9.3M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.72	+0.051%	$293	$253	5x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.65	+0.030%	$421K	$1.8M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0056%	1h	357.54	0.000%	$33K	—	20x	as long as short
Binance GOOGLUSDT	+0.0056%	8h	357.71	+0.047%	$72.9M	$141.5M	50x	as long as short
Lighter GOOGLshort	+0.0096%	1h	357.78	+0.067%	$2.1M	$1.2M	20x
Pacifica GOOGL	+0.0100%	1h	357.47	−0.019%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.30	−0.068%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.46	−0.023%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.59	+0.014%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.57	+0.007%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.54	0.000%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0135%	8h	357.71	+0.047%	$13.8M	$12.4M	50x	as long as short
edgeX GOOGLUSDClong	+0.0644%	4h	357.54	long leg	$209K	$1.2M	10x