Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: Bitget against GRVT+0.016%103s7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as 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−$260.261% of the position

Long on GRVT Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 7 days−0.002%$0 · spread now +0.016%, 7d avg −0.013%

Together, before fees−0.010%+ Points / potential airdropGRVT: Active · farm board−$1 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: Bitget is 0.029% dearer against GRVT than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.013%. The two prices were read 103 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	GRVT PAXG_USDT_Perp	4,345.5	0.0100	pay 0.0050% / 4h	1h 43m	$1.5M	$2.0M	10x
Short	Bitget PAXGUSDT	4,346.2	0.0100	get 0.0050% / 4h	1h 43m	$9.3M	$13.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GRVT. 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 GRVTbpFee BitgetbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.013%: $2.89
Slippage, 4 orders: −$5.09
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$23.21
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Bitget: live order book, 5 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 GRVT live order book, 5 min ago	0.01 bp	5.1 bp −$5	8.5 bp −$85	5783.2 bp −$578.3K	doesn't fit
Sell Bitget live order book, 5 min ago	0.01 bp	8.0 bp −$8	12.0 bp −$120	doesn't fit	doesn't fit

PAXG on 29 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
dYdX PAXG-USD	0.0000%	1h	4,343.7	−0.040%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,347.5	+0.047%	$15.8M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,340.6	−0.112%	$2K	$4.0M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,349.2	+0.085%	$7.9M	$865K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,347.6	+0.050%	$909K	$655K	75x	as long as short
Hibachi PAXG/USDT-P	+0.0032%	1h	4,346	+0.013%	$47K	$142K	20x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,337	−0.195%	$1K	$121K	30x	as long as short
Kraken Futures PF_PAXGUSD	+0.0080%	1h	4,346.9	+0.032%	$1.3M	$1.4M	20x	as long as short
Lighter PAXG	+0.0096%	1h	4,344.6	−0.019%	$1.4M	$273K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,345.3	−0.005%	$80K	$3.7M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PAXG	+0.0100%	1h	4,345.5	+0.001%	$20.3M	$1.8M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,345.5	+0.001%	$907K	$28K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,346.7	+0.029%	$1.0M	$368K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,345.1	−0.008%	$80.0M	$67.8M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,345.8	+0.008%	$15.2M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,342.4	−0.070%	$16.0M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,347.5	+0.047%	$26.8M	$5.3M	30x	as long as short
Bitget PAXGUSDTshort	+0.0100%	4h	4,346.2	+0.016%	$9.3M	$13.3M	50x
BingX PAXG-USDT	+0.0100%	4h	4,345.6	+0.003%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,346.5	+0.024%	$1.4M	$952K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,345.3	−0.003%	$12.5M	$114K	—	as long as short
GRVT PAXG_USDT_Perplong	+0.0100%	4h	4,345.5	long leg	$1.5M	$2.0M	10x
ApeX Omni PAXGUSDT	+0.0100%	1h	4,343.6	−0.044%	$263K	$798K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,345.5	+0.001%	$558	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,340	−0.126%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,344.3	−0.026%	$378K	$1.2M	25x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,345.3	−0.005%	$21K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,347.6	+0.049%	$976K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1416%	1h	4,363.7	+0.419%	$29K	$21K	10x	as long as short