Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0112%/8h= −12.2% APRpaid last 24h −0.038%

Price spread now: HTX against Phoenix+0.084%72s7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.338% of the position

Long on Phoenix Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.184%−$18 on $10k

Price spread, last 4 days (all we have)+0.129%+$13 · spread now +0.084%, 7d avg +0.095%

Together, before fees−0.055%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.095%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOOGL	357.60	0.0112	pay 0.0014% / 1h	7m 41s	$138K	$36K	20x
Short	HTX GOOGL-USDT	357.90	0	get 0.0000% / 8h	4h 07m	$115K	$221K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phoenix. 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 PhoenixbpFee HTXbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$23.48
Price spread: +0.084% → +0.095%: −$1.15
Slippage, 4 orders: −$14.81
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$58.44
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Phoenix: live order book, 43 min ago; HTX: live order book, 49 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 Phoenix live order book, 43 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	doesn't fit	doesn't fit
Sell HTX live order book, 49 min ago	1.54 bp	7.5 bp −$8	14.7 bp −$147	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
Coinbase International GOOGL-PERP-INTX	−0.0048%	1h	357.54	−0.017%	$526K	$1.1M	10x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.62	+0.006%	$3.6M	$7.4M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.79	+0.053%	$17.4M	$9.6M	100x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.75	+0.042%	$1K	$4.1M	20x	as long as short
HTX GOOGL-USDTshort	0.0000%	8h	357.90	+0.084%	$115K	$221K	30x
Phemex GOOGLUSDT	0.0000%	4h	357.83	+0.064%	$2.7M	$86K	10x	as long as short
GRVT GOOGL_USDT_Perp	+0.0001%	8h	357.72	+0.034%	$23K	$432K	10x	as long as short
Deribit GOOGL_USDC-PERPETUAL	+0.0002%	1h	357.48	−0.034%	$24K	$155K	10x	as long as short
Variational Omni GOOGL	+0.0009%	8h	357.68	+0.022%	$4.8M	$2.3M	—	as long as short
Aftermath Perps GOOGLUSD	+0.0021%	1h	357.63	+0.008%	$144K	$48K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH GOOGL	+0.0032%	1h	357.75	+0.042%	$1.3M	$2.1M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.134%	$128K	$45K	30x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.44	−0.045%	$207K	$277K	10x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.66	+0.017%	—	$5K	25x	as long as short
Hotstuff GOOGL-PERP	+0.0048%	1h	357.55	−0.014%	$33K	—	20x	as long as short
QFEX GOOGL-USD	+0.0050%	1h	357.66	+0.017%	$1.3M	$4.2M	10x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.46	−0.039%	$686K	$429K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.53	−0.020%	$143	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.36	−0.067%	$2.3M	$4.9M	15x	as long as short
tradeXYZ xyz:GOOGL	+0.0052%	1h	357.52	−0.022%	$99.1M	$20.5M	20x	as long as short
Aster GOOGLUSDT	+0.0075%	8h	357.89	+0.082%	$366K	$426K	20x	as long as short
Nado GOOGL-PERP	+0.0079%	1h	357.48	−0.034%	$558K	$80K	20x	as long as short
Binance GOOGLUSDT	+0.0095%	8h	357.77	+0.047%	$73.0M	$141.2M	50x	as long as short
Extended GOOGL-USD	+0.0096%	1h	357.66	+0.018%	$423K	$1.8M	20x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.71	+0.030%	$42K	$41K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0100%	8h	357.29	−0.087%	$3.0M	$91K	20x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.43	−0.048%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDC	+0.0100%	8h	357.61	+0.003%	$10K	$10K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.58	−0.005%	$25K	—	10x	as long as short
Paradex GOOGL-USD-PERP	+0.0108%	8h	357.62	+0.007%	$293	$253	5x	as long as short
Phoenix GOOGLlong	+0.0112%	1h	357.60	long leg	$138K	$36K	20x
OKX GOOGL-USDT-SWAP	+0.0113%	8h	357.73	+0.036%	$13.8M	$12.4M	50x	as long as short
BloFin GOOGL-USDT	+0.0214%	8h	357.75	+0.042%	$695K	$234K	20x	as long as short
Bybit GOOGLUSDT	+0.0222%	8h	357.81	+0.059%	$12.0M	$7.5M	100x	as long as short
Lighter GOOGL	+0.0280%	1h	357.75	+0.042%	$2.0M	$1.3M	20x	as long as short
edgeX GOOGLUSDC	+0.0953%	4h	357.68	+0.022%	$209K	$1.2M	10x	as long as short