Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0197%/8h= −21.6% APRpaid last 24h −0.051%

Price spread now: Coinbase International against OKX−0.120%7-day average −0.140% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.120%, 7d avg −0.140%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.140%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.061% in total (about -3.2% 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	OKX GOOGL-USDT-SWAP	357.72	0.0133	pay 0.0133% / 8h	5h 46m	$13.8M	$12.4M	50x
Short	Coinbase International GOOGL-PERP-INTX	357.29	−0.0064	pay 0.0008% / 1h	46m 56s	$523K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$41.44
Price spread: −0.120% → −0.140%: $1.95
Slippage, 4 orders: −$7.36
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$66.85
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Coinbase International: live order book, 1 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 OKX live order book, 1 min ago	0.14 bp	7.1 bp −$7	11.0 bp −$110	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	2.24 bp	7.3 bp −$7	10.5 bp −$105	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
Deribit GOOGL_USDC-PERPETUAL	−0.0617%	1h	357.24	−0.134%	$23K	$154K	10x	as long as short
Nado GOOGL-PERP	−0.0066%	1h	357.60	−0.035%	$558K	$80K	20x	as long as short
Coinbase International GOOGL-PERP-INTXshort	−0.0064%	1h	357.29	−0.120%	$523K	$1.1M	10x
Gate GOOGL_USDT	0.0000%	8h	357.64	−0.022%	$3.6M	$7.5M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.62	−0.029%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.65	−0.020%	$23K	$437K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.71	−0.003%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.88	+0.045%	$115K	$223K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.75	+0.008%	$2.7M	$75K	10x	as long as short
Aftermath Perps GOOGLUSD	+0.0005%	1h	357.43	−0.082%	$144K	$50K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit GOOGLUSDT	+0.0022%	8h	357.80	+0.022%	$11.8M	$7.5M	100x	as long as short
QFEX GOOGL-USD	+0.0028%	1h	357.62	−0.028%	$1.3M	$4.4M	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.75	+0.008%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.168%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0035%	8h	357.64	−0.024%	$366K	$458K	20x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.43	−0.081%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.84	+0.034%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.54	−0.050%	$99.0M	$22.5M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.40	−0.089%	$685K	$431K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.54	−0.050%	$144	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.38	−0.095%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0054%	8h	357.73	+0.002%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0055%	8h	357.73	+0.003%	$72.9M	$141.5M	50x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.63	−0.025%	$421K	$1.8M	20x	as long as short
Bitget GOOGLUSDT	+0.0056%	8h	357.74	+0.006%	$17.0M	$9.3M	100x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	357.54	−0.050%	$33K	—	20x	as long as short
Lighter GOOGL	+0.0088%	1h	357.78	+0.017%	$2.1M	$1.2M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.48	−0.067%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.34	−0.106%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.57	−0.042%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.56	−0.045%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.56	−0.044%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0112%	1h	357.54	−0.050%	$138K	$36K	20x	as long as short
OKX GOOGL-USDT-SWAPlong	+0.0133%	8h	357.72	long leg	$13.8M	$12.4M	50x
BloFin GOOGL-USDT	+0.0175%	8h	357.69	−0.008%	—	$234K	20x	as long as short
edgeX GOOGLUSDC	+0.0789%	4h	357.68	−0.012%	$209K	$1.2M	10x	as long as short