Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0090%/8h= +9.8% APRpaid last 24h +0.039%

Price spread now: Phoenix against HTX−0.022%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on HTX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.187%+$19 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now −0.022%, 7d avg −0.095%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.072% dearer against HTX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.095%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX GOOGL-USDT	357.21	0	get 0.0000% / 8h	56m 23s	$115K	$210K	30x
Short	Phoenix GOOGL	357.13	0.0090	get 0.0011% / 1h	56m 23s	$137K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now −0.022%Rate

Funding earned: $18.82
Price spread: −0.022% → −0.095%: $7.25
Slippage, 4 orders: −$15.36
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$8.29
Costs to cover: 0.344%
Break-even: 10.1 days

Slippage from HTX: live order book, 45 min ago; Phoenix: live order book, 39 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 HTX live order book, 45 min ago	2.80 bp	8.8 bp −$9	12.6 bp −$126	doesn't fit	doesn't fit
Sell Phoenix live order book, 39 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	356.60	−0.171%	$511K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0008%	1h	356.92	−0.081%	$549K	$91K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.08	−0.036%	$13.6M	$12.9M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.97	−0.067%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.16	−0.014%	$17.3M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.18	−0.008%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.21	−0.001%	$23K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.08	−0.036%	$1K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	356.92	−0.081%	$24K	$157K	10x	as long as short
HTX GOOGL-USDTlong	0.0000%	8h	357.21	long leg	$115K	$210K	30x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDT	0.0000%	4h	357.20	−0.003%	$2.7M	$88K	10x	as long as short
Aster GOOGLUSDT	+0.0010%	8h	357.24	+0.007%	$365K	$424K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0020%	1h	357.06	−0.042%	$144K	$45K	10x	as long as short
Binance GOOGLUSDT	+0.0031%	8h	357.09	−0.034%	$72.0M	$143.5M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.03	−0.050%	$1.3M	$1.9M	20x	as long as short
Extended GOOGL-USD	+0.0032%	1h	356.99	−0.062%	$423K	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.025%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.03	−0.050%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.90	−0.087%	$207K	$279K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.19	−0.006%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.91	−0.084%	$98.1M	$21.4M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.82	−0.109%	$684K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.92	−0.081%	$137	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.95	−0.073%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0052%	8h	357.03	−0.051%	$293	$253	5x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	357.01	−0.056%	$33K	—	20x	as long as short
KuCoin GOOGLUSDTM	+0.0073%	8h	356.70	−0.143%	$3.0M	$101K	20x	as long as short
Phoenix GOOGLshort	+0.0090%	1h	357.13	−0.022%	$137K	$36K	20x
Pacifica GOOGL	+0.0100%	1h	356.87	−0.095%	$42K	$37K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.04	−0.048%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.98	−0.064%	$10K	$11K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.95	−0.073%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0114%	8h	357.08	−0.036%	$11.5M	$7.9M	100x	as long as short
BloFin GOOGL-USDT	+0.0127%	8h	357.16	−0.014%	$688K	$236K	20x	as long as short
Lighter GOOGL	+0.0128%	1h	357.07	−0.039%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0128%	4h	357.21	+0.001%	$208K	$1.2M	10x	as long as short