Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0167%/8h= −18.3% APRpaid last 24h +0.015%

Price spread now: OKX against Lighter−0.006%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$140.140% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 7 days−0.022%−$2 · spread now −0.006%, 7d avg +0.033%

Together, before fees−0.136%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and OKX is 0.038% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter GOOGL	357.76	0.0280	pay 0.0035% / 1h	10m 34s	$2.0M	$1.3M	20x
Short	OKX GOOGL-USDT-SWAP	357.74	0.0113	get 0.0113% / 8h	4h 10m	$13.8M	$12.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$35.05
Price spread: −0.006% → +0.033%: −$3.83
Slippage, 4 orders: −$3.97
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$52.85
Costs to cover: 0.140%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; OKX: live order book, 3 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, 6 min ago	0.28 bp	0.4 bp $0	2.6 bp −$26	96.9 bp −$9,691	doesn't fit
Sell OKX live order book, 3 min ago	0.14 bp	5.7 bp −$6	11.2 bp −$112	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	357.54	−0.061%	$526K	$1.1M	10x	as long as short
Hotstuff GOOGL-PERP	−0.0008%	1h	357.48	−0.078%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.63	−0.036%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.77	+0.003%	$17.4M	$9.6M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.76	0.000%	$23K	$432K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.74	−0.006%	$2K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.79	+0.008%	$115K	$221K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.83	+0.020%	$2.7M	$86K	10x	as long as short
Variational Omni GOOGL	+0.0009%	8h	357.68	−0.023%	$4.8M	$2.3M	—	as long as short
Aftermath Perps GOOGLUSD	+0.0020%	1h	357.63	−0.037%	$144K	$48K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH GOOGL	+0.0032%	1h	357.75	−0.003%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.179%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.44	−0.089%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.65	−0.031%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0050%	1h	357.66	−0.028%	$1.3M	$4.2M	10x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.46	−0.084%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.49	−0.075%	$147	$46K	10x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.54	−0.061%	$99.1M	$20.5M	20x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.34	−0.117%	$2.3M	$4.9M	15x	as long as short
Aster GOOGLUSDT	+0.0073%	8h	357.90	+0.039%	$366K	$426K	20x	as long as short
Nado GOOGL-PERP	+0.0080%	1h	357.46	−0.084%	$558K	$81K	20x	as long as short
Extended GOOGL-USD	+0.0088%	1h	357.67	−0.025%	$423K	$1.8M	20x	as long as short
Binance GOOGLUSDT	+0.0093%	8h	357.77	+0.003%	$73.0M	$141.2M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.43	−0.091%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.32	−0.123%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.48	−0.078%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.59	−0.048%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.58	−0.051%	$25K	—	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0108%	8h	357.66	−0.027%	$293	$253	5x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.60	−0.045%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAPshort	+0.0113%	8h	357.74	−0.006%	$13.8M	$12.4M	50x
Deribit GOOGL_USDC-PERPETUAL	+0.0170%	1h	357.50	−0.073%	$24K	$155K	10x	as long as short
BloFin GOOGL-USDT	+0.0212%	8h	357.75	−0.003%	$694K	$234K	20x	as long as short
Bybit GOOGLUSDT	+0.0219%	8h	357.81	+0.014%	$12.0M	$7.5M	100x	as long as short
Lighter GOOGLlong	+0.0280%	1h	357.76	long leg	$2.0M	$1.3M	20x
edgeX GOOGLUSDC	+0.0650%	4h	357.72	−0.012%	$209K	$1.2M	10x	as long as short