Funding arb · Price arb /

GOOGL

RWAall GOOGL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.008%

Price spread now: Orderly against Phoenix−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 Phoenix Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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 $0 a day on $10k at the current rate, and Orderly is 0.028% cheaper against Phoenix 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	Phoenix GOOGL	357.59	0.0112	pay 0.0014% / 1h	8m 42s	$138K	$36K	20x
Short	Orderly PERP_GOOGL_USDC	357.49	0.0100	get 0.0100% / 8h	8m 42s	$10K	$11K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.028%Rate

Funding earned: −$2.53
Price spread: −0.028% → 0.000%: −$2.8
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$18.32
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 22 min ago; Orderly: no order-book sample. 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 Phoenix live order book, 22 min ago	2.52 bp	8.4 bp −$8	17.2 bp −$172	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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
Coinbase International GOOGL-PERP-INTX	−0.0048%	1h	357.09	−0.140%	$512K	$1.1M	10x	as long as short
Nado GOOGL-PERP	−0.0011%	1h	357.50	−0.026%	$550K	$88K	20x	as long as short
OKX GOOGL-USDT-SWAP	0.0000%	8h	357.67	+0.022%	$13.6M	$12.8M	50x	as long as short
Gate GOOGL_USDT	0.0000%	8h	357.59	0.000%	$3.6M	$7.5M	100x	as long as short
Bitget GOOGLUSDT	0.0000%	8h	357.78	+0.053%	$17.4M	$9.8M	100x	as long as short
Variational Omni GOOGL	0.0000%	8h	357.69	+0.028%	$4.8M	$2.4M	—	as long as short
GRVT GOOGL_USDT_Perp	0.0000%	8h	357.74	+0.041%	$23K	$449K	10x	as long as short
SunX GOOGL-USDT	0.0000%	8h	357.68	+0.025%	$2K	$4.0M	20x	as long as short
Deribit GOOGL_USDC-PERPETUAL	0.0000%	1h	357.48	−0.031%	$24K	$157K	10x	as long as short
HTX GOOGL-USDT	0.0000%	8h	357.82	+0.064%	$115K	$209K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex GOOGLUSDT	0.0000%	4h	357.71	+0.034%	$2.7M	$88K	10x	as long as short
Aster GOOGLUSDT	+0.0002%	8h	357.80	+0.058%	$367K	$422K	20x	as long as short
Aftermath Perps GOOGLUSD	+0.0022%	1h	357.64	+0.014%	$144K	$44K	10x	as long as short
Extended GOOGL-USD	+0.0024%	1h	357.60	+0.002%	$427K	$2.5M	20x	as long as short
Binance GOOGLUSDT	+0.0026%	8h	357.68	+0.025%	$72.1M	$143.2M	50x	as long as short
Lighter RH GOOGL	+0.0032%	1h	357.59	0.000%	$1.4M	$1.9M	20x	as long as short
Injective GOOGL/USDC PERP	+0.0033%	1h	357.12	−0.131%	$128K	$45K	30x	as long as short
QFEX GOOGL-USD	+0.0035%	1h	357.58	−0.003%	$1.3M	$4.2M	10x	as long as short
Arcus GOOGL-USD	+0.0040%	1h	357.48	−0.031%	$208K	$279K	10x	as long as short
KuCoin GOOGLUSDTM	+0.0041%	8h	357.18	−0.115%	$3.0M	$109K	20x	as long as short
Vest GOOGL-USD-PERP	+0.0046%	1h	357.79	+0.056%	—	$5K	25x	as long as short
Hotstuff GOOGL-PERP	+0.0048%	1h	357.48	−0.031%	$33K	—	20x	as long as short
tradeXYZ xyz:GOOGL	+0.0050%	1h	357.49	−0.028%	$98.2M	$21.3M	20x	as long as short
Polymarket Perps GOOG-USD	+0.0050%	1h	357.42	−0.048%	$686K	$430K	10x	as long as short
SoDEX GOOGL-USD	+0.0050%	1h	357.48	−0.031%	$136	$46K	10x	as long as short
Ondo Perps GOOGL-USD.P	+0.0050%	1h	357.40	−0.053%	$2.3M	$4.6M	15x	as long as short
Paradex GOOGL-USD-PERP	+0.0051%	8h	357.65	+0.016%	$293	$253	5x	as long as short
Bybit GOOGLUSDT	+0.0076%	8h	357.70	+0.031%	$11.5M	$7.8M	100x	as long as short
Pacifica GOOGL	+0.0100%	1h	357.45	−0.039%	$42K	$26K	10x	as long as short
ApeX Omni GOOGLUSDT	+0.0100%	1h	357.54	−0.014%	$22K	$10K	50x	as long as short
Orderly PERP_GOOGL_USDCshort	+0.0100%	8h	357.49	−0.028%	$10K	$11K	20x
BloFin GOOGL-USDT	+0.0103%	8h	357.61	+0.006%	$687K	$236K	20x	as long as short
Aevo GOOGL-PERP	+0.0104%	1h	357.54	−0.013%	$25K	—	10x	as long as short
Lighter GOOGL	+0.0112%	1h	357.68	+0.025%	$2.0M	$1.4M	20x	as long as short
Phoenix GOOGLlong	+0.0112%	1h	357.59	long leg	$138K	$36K	20x
edgeX GOOGLUSDC	+0.0617%	4h	357.69	+0.029%	$209K	$1.2M	10x	as long as short