Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h +0.016%

Price spread now: Coinbase International against Phemex−0.132%7-day average −0.154% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$730.727% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.132%, 7d avg −0.154%

Together, before fees+0.069%+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.022% dearer against Phemex than usual: you sell high and buy low (spread −0.132% now, against its 7-day average of −0.154%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	356.87	0	get 0.0000% / 4h	2h 34m	$2.7M	$67K	10x
Short	Coinbase International GOOGL-PERP-INTX	356.40	−0.0024	pay 0.0003% / 1h	34m 52s	$529K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phemex. 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 PhemexbpFee Coinbase InternationalbpOrdersPrice spread, now −0.132%Rate

Funding earned: −$5.04
Price spread: −0.132% → −0.154%: $2.2
Slippage, 4 orders: −$50.67
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$75.51
Costs to cover: 0.727%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Coinbase International: 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 Phemex live order book, 4 min ago	1.96 bp	27.2 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	1.82 bp	6.9 bp −$7	9.1 bp −$91	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	−0.0086%	1h	356.53	−0.095%	$23K	$153K	10x	as long as short
Hotstuff GOOGL-PERP	−0.0024%	1h	356.72	−0.042%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTXshort	−0.0024%	1h	356.40	−0.132%	$529K	$1.1M	10x
Nado GOOGL-PERP	−0.0002%	1h	356.65	−0.062%	$556K	$80K	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.78	−0.025%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	356.75	−0.034%	$16.9M	$9.2M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.73	−0.040%	$23K	$436K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.77	−0.028%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDT	0.0000%	8h	356.95	+0.022%	$115K	$227K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	356.87	long leg	$2.7M	$67K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps GOOGLUSD	+0.0008%	1h	356.50	−0.105%	$144K	$51K	10x	as long as short
Variational Omni GOOGL	+0.0017%	8h	356.74	−0.037%	$4.7M	$2.4M	—	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.89	+0.006%	$1.3M	$2.3M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.070%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0039%	1h	356.67	−0.056%	$1.3M	$4.5M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	356.51	−0.101%	$202K	$272K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.89	+0.006%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.78	−0.025%	$98.7M	$22.3M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.53	−0.095%	$683K	$433K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.74	−0.036%	$158	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.51	−0.101%	$2.3M	$4.9M	15x	as long as short
Lighter GOOGL	+0.0056%	1h	356.86	−0.003%	$2.1M	$1.2M	20x	as long as short
edgeX GOOGLUSDC	+0.0061%	4h	356.68	−0.055%	$209K	$1.2M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0062%	8h	356.79	−0.021%	$293	$253	5x	as long as short
Aster GOOGLUSDT	+0.0071%	8h	356.72	−0.041%	$365K	$458K	20x	as long as short
Extended GOOGL-USD	+0.0088%	1h	356.72	−0.043%	$421K	$1.8M	20x	as long as short
Phoenix GOOGL	+0.0090%	1h	356.62	−0.070%	$137K	$36K	20x	as long as short
Binance GOOGLUSDT	+0.0092%	8h	356.85	−0.005%	$72.8M	$141.5M	50x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.56	−0.087%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	356.43	−0.123%	$3.0M	$65K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.57	−0.084%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.70	−0.048%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.66	−0.059%	$25K	—	10x	as long as short
Bybit GOOGLUSDT	+0.0126%	8h	357.00	+0.036%	$11.6M	$7.4M	100x	as long as short
OKX GOOGL-USDT-SWAP	+0.0183%	8h	356.94	+0.020%	$13.8M	$12.8M	50x	as long as short
BloFin GOOGL-USDT	+0.0215%	8h	356.47	−0.112%	$651K	$234K	20x	as long as short