Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0246%/8h= +26.9% APRpaid last 24h +0.065%

Price spread now: Coinbase International against GRVT+0.055%76s7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs+$7as 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−$230.231% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.304%+$30 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now +0.055%, 7d avg +0.087%

Together, before fees+0.391%+ Points / potential airdropGRVT: Active · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.032% cheaper against GRVT than usual: you would sell low and buy high (spread +0.055% now, against its 7-day average of +0.087%). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$7 a day). The two prices were read 76 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	4,339.9	0.0002	pay 0.0001% / 4h	2h 56m	$1.5M	$1.9M	10x
Short	Coinbase International PAXG-PERP-INTX	4,342.3	0.0248	get 0.0031% / 1h	56m 02s	$955K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.055%Rate

Funding earned: $51.66
Price spread: +0.055% → +0.087%: −$3.18
Slippage, 4 orders: −$4.12
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $25.36
Costs to cover: 0.231%
Break-even: 3.6 days

Slippage from GRVT: live order book, 2 min ago; Coinbase International: live order book, 2 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, 2 min ago	0.01 bp	5.0 bp −$5	7.3 bp −$73	1026.2 bp −$102.6K	doesn't fit
Sell Coinbase International live order book, 2 min ago	1.61 bp	6.6 bp −$7	14.2 bp −$142	149.5 bp −$14.9K	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
Hibachi PAXG/USDT-P	−0.0208%	1h	4,340.9	+0.023%	$46K	$158K	20x	as long as short
Lighter PAXG	−0.0104%	1h	4,339.6	−0.007%	$1.4M	$365K	25x	as long as short
Kraken Futures PF_PAXGUSD	−0.0101%	1h	4,342.1	+0.051%	$1.3M	$1.5M	20x	as long as short
ApeX Omni PAXGUSDT	−0.0037%	1h	4,338.9	−0.023%	$262K	$786K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,338.3	−0.037%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,342.9	+0.068%	$15.6M	$3.3M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,337.3	−0.060%	$2K	$3.5M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,344.7	+0.110%	$7.9M	$843K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,342	+0.048%	$904K	$692K	75x	as long as short
GRVT PAXG_USDT_Perplong	+0.0002%	4h	4,339.9	long leg	$1.5M	$1.9M	10x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PAXG-USD	+0.0032%	1h	4,340	+0.003%	$379K	$1.4M	25x	as long as short
MEXC PAXG_USDT	+0.0032%	4h	4,342.9	+0.069%	$16.2M	$1.0M	100x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.170%	$1K	$151K	30x	as long as short
Binance PAXGUSDT	+0.0034%	4h	4,341	+0.025%	$80.1M	$70.4M	75x	as long as short
Aster PAXGUSDT	+0.0073%	4h	4,340.4	+0.011%	$905K	$26K	50x	as long as short
Hyperliquid PAXG	+0.0081%	1h	4,341	+0.025%	$20.8M	$2.3M	10x	as long as short
Paradex PAXG-USD-PERP	+0.0099%	8h	4,341	+0.025%	$81K	$3.4M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,339.2	−0.017%	$557	—	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,342.1	+0.050%	$1.0M	$343K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,341.9	+0.044%	$14.9M	$3.8M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,344	+0.093%	$28.6M	$5.2M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,341.7	+0.039%	$9.7M	$15.2M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,341.3	+0.031%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,341.3	+0.032%	$1.3M	$798K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,340.8	+0.020%	$12.3M	$222K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,338	−0.045%	$1.5M	$39K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,340.7	+0.018%	$21K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0248%	1h	4,342.3	+0.055%	$955K	$1.1M	50x
01 Exchange PAXGUSD	+0.0752%	1h	4,350.6	+0.246%	$29K	$24K	10x	as long as short