Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Phemex−0.056%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$750.748% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 4 days (all we have)−0.069%−$7 · spread now −0.056%, 7d avg −0.092%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.036% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex GOOGLUSDT	357.96	0	get 0.0000% / 4h	1h 44m	$2.7M	$114K	10x
Short	Polymarket Perps GOOG-USD	357.76	0.0050	get 0.0006% / 1h	44m 42s	$685K	$421K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.056%Rate

Funding earned: $10.5
Price spread: −0.056% → −0.092%: $3.56
Slippage, 4 orders: −$54.75
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$60.69
Costs to cover: 0.748%
Break-even: 47.5 days

Slippage from Phemex: live order book, 2 min ago; Polymarket Perps: live order book, 66 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, 2 min ago	1.54 bp	29.1 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 66 min ago	2.79 bp	6.8 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit

GOOGL on 36 exchanges

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	−0.1600%	1h	354.12	−1.073%	$33K	—	20x	as long as short
Coinbase International GOOGL-PERP-INTX	−0.0040%	1h	357.46	−0.140%	$517K	$1.2M	10x	as long as short
Bybit GOOGLUSDT	0.0000%	8h	357.87	−0.025%	$11.5M	$7.7M	100x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.86	−0.028%	$13.5M	$13.7M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.72	−0.067%	$3.7M	$6.8M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.90	−0.017%	$17.4M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.87	−0.024%	$5.0M	$2.3M	—	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.89	−0.020%	$1K	$3.7M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.65	−0.087%	$29K	$152K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.96	0.000%	$115K	$211K	30x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDTlong	0.0000%	4h	357.96	long leg	$2.7M	$114K	10x
Aftermath Perps GOOGLUSD	+0.0030%	1h	357.85	−0.031%	$144K	$42K	10x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.81	−0.042%	$1.4M	$1.8M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.235%	$128K	$45K	30x	as long as short
Aster GOOGLUSDT	+0.0044%	8h	357.78	−0.050%	$367K	$420K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.91	−0.014%	—	$5K	25x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.61	−0.098%	$97.9M	$21.9M	20x	as long as short
Polymarket Perps GOOG-USDshort	+0.0050%	1h	357.76	−0.056%	$685K	$421K	10x
SoDEX GOOGL-USD	+0.0050%	1h	357.59	−0.103%	$104	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.54	−0.117%	$2.3M	$4.0M	15x	as long as short
Extended GOOGL-USD	+0.0056%	1h	357.81	−0.042%	$426K	$2.4M	20x	as long as short
QFEX GOOGL-USD	+0.0060%	1h	357.82	−0.039%	$1.2M	$4.1M	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0060%	8h	357.75	−0.058%	$293	$253	5x	as long as short
Binance GOOGLUSDT	+0.0060%	8h	357.93	−0.009%	$73.1M	$145.5M	50x	as long as short
GRVT GOOGL_USDT_Perp	+0.0066%	8h	357.96	+0.001%	$12K	$463K	10x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.79	−0.047%	$42K	$20K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.69	−0.075%	$3.0M	$256K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.78	−0.050%	$36K	$17K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.67	−0.081%	$10K	$11K	20x	as long as short
Lighter GOOGL	+0.0104%	1h	357.78	−0.050%	$2.0M	$2.1M	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.60	−0.100%	$25K	—	10x	as long as short
Nado GOOGL-PERP	+0.0114%	1h	357.64	−0.091%	$551K	$82K	20x	as long as short
Phoenix GOOGL	+0.0134%	1h	357.97	+0.003%	$138K	$36K	20x	as long as short
BloFin GOOGL-USDT	+0.0182%	8h	357.93	−0.008%	$695K	$231K	20x	as long as short
Arcus GOOGL-USD	+0.0199%	1h	357.78	−0.050%	$211K	$213K	10x	as long as short
edgeX GOOGLUSDC	+0.0616%	4h	357.80	−0.045%	$208K	$1.2M	10x	as long as short