Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h +0.005%

Price spread now: Bybit against Lighter+0.031%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 7 days−0.025%−$3 · spread now +0.031%, 7d avg +0.038%

Together, before fees−0.127%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.101%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter GOOGL	357.30	0.0104	pay 0.0013% / 1h	24m 16s	$2.0M	$1.3M	20x
Short	Bybit GOOGLUSDT	357.41	0.0210	get 0.0210% / 8h	2h 24m	$12.0M	$7.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.031%Rate

Funding earned: $22.17
Price spread: +0.031% → +0.038%: −$0.76
Slippage, 4 orders: −$7.9
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $2.52
Costs to cover: 0.189%
Break-even: 6.2 days

Slippage from Lighter: live order book, 2 min ago; Bybit: live order book, 4 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 Lighter live order book, 2 min ago	0.70 bp	0.7 bp −$1	2.7 bp −$27	86.0 bp −$8,599	doesn't fit
Sell Bybit live order book, 4 min ago	0.56 bp	8.1 bp −$8	11.1 bp −$111	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
Nado GOOGL-PERP	−0.0008%	1h	357.15	−0.041%	$557K	$86K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.18	−0.034%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.33	+0.008%	$17.3M	$9.9M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.06	−0.067%	$23K	$444K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.35	+0.014%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.09	−0.059%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.45	+0.042%	$115K	$214K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.36	+0.017%	$2.7M	$87K	10x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.24	−0.018%	$4.8M	$2.4M	—	as long as short
OKX GOOGL-USDT-SWAP	+0.0012%	8h	357.28	−0.006%	$13.7M	$12.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOOGL-PERP-INTX	+0.0016%	1h	356.57	−0.204%	$519K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0021%	1h	356.97	−0.093%	$144K	$47K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.30	0.000%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.050%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.93	−0.104%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.38	+0.022%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0047%	1h	357.23	−0.020%	$1.3M	$4.3M	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.08	−0.062%	$98.2M	$21.8M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.04	−0.073%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.08	−0.062%	$160	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.90	−0.112%	$2.3M	$4.8M	15x	as long as short
Aster GOOGLUSDT	+0.0057%	8h	357.44	+0.040%	$366K	$426K	20x	as long as short
Paradex GOOGL-USD-PERP	+0.0061%	8h	357.27	−0.009%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0077%	8h	357.33	+0.008%	$72.1M	$143.8M	50x	as long as short
Extended GOOGL-USD	+0.0080%	1h	357.23	−0.020%	$424K	$1.2M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.25	−0.013%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.05	−0.070%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.03	−0.076%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.12	−0.050%	$10K	$11K	20x	as long as short
Lighter GOOGLlong	+0.0104%	1h	357.30	long leg	$2.0M	$1.3M	20x
Aevo GOOGL-PERP	+0.0104%	1h	357.16	−0.039%	$25K	—	10x	as long as short
Hotstuff GOOGL-PERP	+0.0128%	1h	357.12	−0.050%	$33K	—	20x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.07	−0.064%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0198%	8h	357.32	+0.006%	$687K	$236K	20x	as long as short
Bybit GOOGLUSDTshort	+0.0210%	8h	357.41	+0.031%	$12.0M	$7.6M	100x
edgeX GOOGLUSDC	+0.0623%	4h	357.09	−0.059%	$208K	$1.2M	10x	as long as short