Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0616%/8h= −67.4% APRpaid last 24h −0.187%

Price spread now: SunX against edgeX+0.042%74s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$129as 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−$1141.145% of the position

Long on edgeX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.149%−$15 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now +0.042%, 7d avg +0.019%

Together, before fees−0.069%+ Points / potential airdropedgeX: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.023% dearer against edgeX than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of +0.019%): +$2 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.149% in total) that is about 26 hours. The two prices were read 74 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 -0.149% in total (about -7.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX GOOGLUSDC	357.80	0.0616	pay 0.0308% / 4h	1h 43m	$208K	$1.2M	10x
Short	SunX GOOGL-USDT	357.95	0	get 0.0000% / 8h	5h 43m	$2K	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$129.35
Price spread: +0.042% → +0.019%: $2.27
Slippage, 4 orders: −$97.47
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$241.55
Costs to cover: 1.145%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; SunX: live order book, 8 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, 3 min ago	3.21 bp	8.0 bp −$8	11.1 bp −$111	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	44.81 bp	49.3 bp −$49	doesn't fit	doesn't fit	doesn't fit

GOOGL on 36 exchanges

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	−0.1600%	1h	354.23	−0.998%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0040%	1h	357.46	−0.095%	$517K	$1.2M	10x	as long as short
Bybit GOOGLUSDT	0.0000%	8h	357.88	+0.022%	$11.5M	$7.7M	100x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.86	+0.017%	$13.5M	$13.7M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.79	−0.003%	$3.7M	$6.8M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.90	+0.028%	$17.4M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.87	+0.021%	$5.0M	$2.3M	—	as long as short
SunX GOOGL-USDTshort	0.0000%	8h	357.95	+0.042%	$2K	$3.7M	20x
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.69	−0.031%	$29K	$152K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	358.03	+0.064%	$115K	$211K	30x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDT	0.0000%	4h	358.01	+0.059%	$2.7M	$114K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0031%	1h	357.85	+0.013%	$144K	$42K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.90	+0.028%	$1.4M	$1.8M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.190%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0044%	8h	357.82	+0.006%	$367K	$420K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.92	+0.034%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.69	−0.031%	$98.0M	$21.9M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.78	−0.006%	$685K	$421K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.61	−0.053%	$106	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.54	−0.073%	$2.3M	$4.0M	15x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.83	+0.008%	$426K	$2.4M	20x	as long as short
QFEX GOOGL-USD	+0.0060%	1h	357.84	+0.011%	$1.2M	$4.1M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0060%	8h	357.75	−0.013%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0060%	8h	357.97	+0.046%	$73.1M	$145.5M	50x	as long as short
GRVT GOOGL_USDT_Perp	+0.0066%	8h	357.96	+0.046%	$12K	$463K	10x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.79	−0.002%	$42K	$20K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.67	−0.036%	$3.0M	$256K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.78	−0.006%	$36K	$17K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.66	−0.039%	$10K	$11K	20x	as long as short
Lighter GOOGL	+0.0104%	1h	357.87	+0.020%	$2.0M	$2.1M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.62	−0.051%	$25K	—	10x	as long as short
Nado GOOGL-PERP	+0.0113%	1h	357.65	−0.041%	$552K	$82K	20x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.97	+0.048%	$138K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0182%	8h	357.93	+0.036%	$695K	$231K	20x	as long as short
Arcus GOOGL-USD	+0.0199%	1h	357.78	−0.006%	$211K	$213K	10x	as long as short
edgeX GOOGLUSDClong	+0.0616%	4h	357.80	long leg	$208K	$1.2M	10x