Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0511%/8h= −56.0% APRpaid last 24h −0.153%

Price spread now: Phoenix against edgeX−0.050%7-day average −0.045% · 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−$33as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$7 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.050%, 7d avg −0.045%

Together, before fees+0.058%+ Points / potential airdropedgeX: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.045%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.065%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.065% in total (about 3.4% 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	357.57	0.0623	pay 0.0312% / 4h	2m 18s	$209K	$1.2M	10x
Short	Phoenix GOOGL	357.39	0.0112	get 0.0014% / 1h	2m 18s	$137K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$107.36
Price spread: −0.050% → −0.045%: −$0.59
Slippage, 4 orders: −$16.7
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$140.65
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Phoenix: live order book, 29 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, 2 min ago	3.22 bp	7.9 bp −$8	11.1 bp −$111	doesn't fit	doesn't fit
Sell Phoenix live order book, 29 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	357.09	−0.134%	$512K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0004%	1h	357.32	−0.071%	$549K	$88K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.46	−0.031%	$13.6M	$12.9M	50x	as long as short
Hotstuff GOOGL-PERP	0.0000%	1h	357.42	−0.042%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.46	−0.031%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.66	+0.025%	$17.4M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.58	+0.002%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.58	+0.003%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.57	0.000%	$1K	$4.0M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.65	+0.022%	$115K	$210K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDT	0.0000%	4h	357.70	+0.036%	$2.7M	$88K	10x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0002%	1h	357.36	−0.059%	$24K	$157K	10x	as long as short
Aster GOOGLUSDT	+0.0004%	8h	357.75	+0.050%	$366K	$422K	20x	as long as short
Extended GOOGL-USD	+0.0024%	1h	357.49	−0.021%	$427K	$2.5M	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0025%	1h	357.66	+0.025%	$144K	$44K	10x	as long as short
Binance GOOGLUSDT	+0.0027%	8h	357.58	+0.003%	$72.1M	$143.2M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.46	−0.031%	$1.4M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.126%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.47	−0.028%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.39	−0.050%	$208K	$279K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0044%	8h	357.18	−0.109%	$3.0M	$117K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.70	+0.036%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.36	−0.059%	$98.2M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.38	−0.053%	$686K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.34	−0.064%	$131	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.32	−0.070%	$2.3M	$4.6M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.46	−0.032%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0075%	8h	357.60	+0.008%	$11.5M	$7.8M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.38	−0.053%	$42K	$26K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.32	−0.070%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.34	−0.064%	$10K	$11K	20x	as long as short
BloFin GOOGL-USDT	+0.0103%	8h	357.61	+0.011%	$688K	$236K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.49	−0.024%	$25K	—	10x	as long as short
Phoenix GOOGLshort	+0.0112%	1h	357.39	−0.050%	$137K	$36K	20x
Lighter GOOGL	+0.0120%	1h	357.54	−0.009%	$2.0M	$1.4M	20x	as long as short
edgeX GOOGLUSDClong	+0.0623%	4h	357.57	long leg	$209K	$1.2M	10x