Funding arb · Price arb /

GOOGL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.013%

Price spread now: Aftermath Perps against Orderly−0.028%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aftermath Perps is 0.028% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GOOGL_USDC	357.30	0.0100	pay 0.0100% / 8h	2h 10m	$10K	$11K	20x
Short	Aftermath Perps GOOGLUSD	357.20	0.0020	get 0.0002% / 1h	10m 38s	$144K	$47K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Orderly. 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 OrderlybpFee Aftermath PerpsbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$16.9
Price spread: −0.028% → 0.000%: −$2.83
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$34.73
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Aftermath Perps: live order book, 38 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Aftermath Perps live order book, 38 min ago	7.90 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0022%	1h	357.34	+0.011%	$557K	$86K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.40	+0.028%	$13.7M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.31	+0.003%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.50	+0.056%	$17.3M	$9.9M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.45	+0.043%	$4.7M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.32	+0.006%	$23K	$447K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.52	+0.062%	$1K	$4.1M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.27	−0.008%	$24K	$156K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.65	+0.098%	$115K	$214K	30x	as long as short
Phemex GOOGLUSDT	0.0000%	4h	357.51	+0.059%	$2.7M	$87K	10x	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	356.88	−0.118%	$519K	$1.1M	10x	as long as short
Aftermath Perps GOOGLUSDshort	+0.0020%	1h	357.20	−0.028%	$144K	$47K	10x
Lighter RH GOOGL	+0.0032%	1h	357.43	+0.036%	$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	357.18	−0.034%	$207K	$278K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.61	+0.087%	—	$5K	25x	as long as short
QFEX GOOGL-USD	+0.0047%	1h	357.34	+0.011%	$1.3M	$4.2M	10x	as long as short
Aster GOOGLUSDT	+0.0047%	8h	357.53	+0.064%	$366K	$426K	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.21	−0.025%	$98.3M	$21.8M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.22	−0.022%	$685K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.28	−0.006%	$160	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.19	−0.031%	$2.3M	$4.8M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0058%	8h	357.40	+0.027%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0067%	8h	357.45	+0.042%	$72.1M	$143.7M	50x	as long as short
Extended GOOGL-USD	+0.0072%	1h	357.35	+0.014%	$422K	$1.2M	20x	as long as short
Hotstuff GOOGL-PERP	+0.0072%	1h	357.21	−0.025%	$33K	—	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.21	−0.025%	$42K	$39K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.91	−0.109%	$3.0M	$106K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.26	−0.011%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDClong	+0.0100%	8h	357.30	long leg	$10K	$11K	20x
Lighter GOOGL	+0.0104%	1h	357.45	+0.042%	$2.0M	$1.3M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.35	+0.015%	$25K	—	10x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.25	−0.014%	$137K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0188%	8h	357.49	+0.053%	$688K	$236K	20x	as long as short
Bybit GOOGLUSDT	+0.0199%	8h	357.52	+0.062%	$12.0M	$7.5M	100x	as long as short
edgeX GOOGLUSDC	+0.0494%	4h	357.41	+0.032%	$208K	$1.2M	10x	as long as short