Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.026%

Price spread now: Deribit against Phemex−0.109%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$730.735% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.158%+$16 on $10k

Price spread, last 3 days (all we have)+0.029%+$3 · spread now −0.109%, 7d avg −0.069%

Together, before fees+0.187%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.041% cheaper against Phemex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	356.45	0	get 0.0000% / 4h	3h 22m	$2.7M	$66K	10x
Short	Deribit GOOGL_USDC-PERPETUAL	356.06	0	get 0.0000% / 1h	22m 06s	$23K	$153K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.109%Rate

Funding earned: $0
Price spread: −0.109% → −0.069%: −$4.09
Slippage, 4 orders: −$54.46
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$77.55
Costs to cover: 0.735%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Deribit: live order book, 51 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, 1 min ago	0.98 bp	29.4 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 51 min ago	0.14 bp	3.6 bp −$4	7.2 bp −$72	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
Hotstuff GOOGL-PERP	−0.0016%	1h	356.10	−0.098%	$33K	—	20x	as long as short
Gate GOOGL_USDT	0.0000%	8h	356.20	−0.070%	$3.6M	$7.5M	100x	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	356.53	+0.022%	$23K	$452K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	356.28	−0.048%	$1K	$4.2M	20x	as long as short
Deribit GOOGL_USDC-PERPETUALshort	0.0000%	1h	356.06	−0.109%	$23K	$153K	10x
HTX GOOGL-USDT	0.0000%	8h	356.35	−0.028%	$114K	$226K	30x	as long as short
Phemex GOOGLUSDTlong	0.0000%	4h	356.45	long leg	$2.7M	$66K	10x
Aftermath Perps GOOGLUSD	+0.0014%	1h	356.13	−0.089%	$144K	$52K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	356.26	−0.053%	$1.4M	$2.3M	20x	as long as short
Coinbase International GOOGL-PERP-INTX	+0.0032%	1h	355.85	−0.168%	$528K	$1.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	+0.188%	$128K	$45K	30x	as long as short
Lighter GOOGL	+0.0040%	1h	356.19	−0.073%	$2.1M	$1.1M	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	356.28	−0.048%	—	$5K	25x	as long as short
Nado GOOGL-PERP	+0.0046%	1h	356.05	−0.113%	$555K	$80K	20x	as long as short
Variational Omni GOOGL	+0.0049%	8h	356.48	+0.007%	$4.8M	$2.3M	—	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	356.08	−0.104%	$98.2M	$22.2M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	356.06	−0.109%	$683K	$441K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	356.10	−0.098%	$177	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	356.15	−0.084%	$2.2M	$4.8M	15x	as long as short
QFEX GOOGL-USD	+0.0064%	1h	356.19	−0.073%	$1.3M	$4.7M	10x	as long as short
Bitget GOOGLUSDT	+0.0072%	8h	356.42	−0.008%	$17.0M	$9.2M	100x	as long as short
Paradex GOOGL-USD-PERP	+0.0075%	8h	356.20	−0.071%	$292	$253	5x	as long as short
Aster GOOGLUSDT	+0.0090%	8h	356.37	−0.021%	$364K	$458K	20x	as long as short
Bybit GOOGLUSDT	+0.0096%	8h	356.34	−0.031%	$11.5M	$7.7M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	356.05	−0.113%	$42K	$43K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	355.91	−0.151%	$3.0M	$64K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	356.30	−0.042%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	356.13	−0.090%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	356.15	−0.085%	$25K	—	10x	as long as short
Binance GOOGLUSDT	+0.0111%	8h	356.29	−0.046%	$72.8M	$142.0M	50x	as long as short
Extended GOOGL-USD	+0.0112%	1h	356.21	−0.068%	$421K	$1.8M	20x	as long as short
Phoenix GOOGL	+0.0157%	1h	356.41	−0.011%	$137K	$48K	20x	as long as short
OKX GOOGL-USDT-SWAP	+0.0190%	8h	356.37	−0.022%	$13.8M	$12.7M	50x	as long as short
BloFin GOOGL-USDT	+0.0233%	8h	356.31	−0.039%	$690K	$234K	20x	as long as short
Arcus GOOGL-USD	+0.0306%	1h	356.18	−0.076%	$202K	$271K	10x	as long as short
edgeX GOOGLUSDC	+0.0538%	4h	356.48	+0.008%	$209K	$1.2M	10x	as long as short