Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.002%

Price spread now: Injective against GRVT−0.324%7-day average +0.055% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 3 days (all we have)+0.424%+$42 · spread now −0.324%, 7d avg +0.055%

Together, before fees+0.375%+ Points / potential airdropGRVT: Active · farm board+$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Injective is 0.379% cheaper against GRVT than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of +0.055%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PAXG_USDT_Perp	4,361.4	0.0100	pay 0.0050% / 4h	0m 23s	$1.5M	$2.1M	10x
Short	Injective PAXG/USDC PERP	4,347.3	−0.0007	pay 0.0001% / 1h	0m 23s	$1K	$151K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −0.324%Rate

Funding earned: −$22.53
Price spread: −0.324% → +0.055%: −$37.87
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$69.42
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 3 min ago; Injective: 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 GRVT live order book, 3 min ago	0.01 bp	5.9 bp −$6	8.3 bp −$83	338.7 bp −$33.9K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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.

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
Injective PAXG/USDC PERPshort	−0.0007%	1h	4,347.3	−0.324%	$1K	$151K	30x
dYdX PAXG-USD	0.0000%	1h	4,362.4	+0.022%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,367.4	+0.137%	$15.8M	$3.7M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,360.9	−0.012%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,368.6	+0.165%	$8.0M	$866K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,366.8	+0.122%	$911K	$654K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,364	+0.059%	$1.4M	$272K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,364.6	+0.073%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,365	+0.082%	$20.5M	$1.9M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,365.6	+0.095%	$911K	$30K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PAXG	+0.0100%	1h	4,366	+0.106%	$1.0M	$363K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,365	+0.082%	$80.1M	$70.2M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,366.1	+0.107%	$15.2M	$3.7M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,361	−0.011%	$16.2M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,366.8	+0.123%	$28.5M	$5.6M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,365.9	+0.103%	$9.6M	$15.0M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,365.5	+0.092%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,366	+0.104%	$1.4M	$972K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,365.6	+0.095%	$12.5M	$104K	—	as long as short
GRVT PAXG_USDT_Perplong	+0.0100%	4h	4,361.4	long leg	$1.5M	$2.1M	10x
ApeX Omni PAXGUSDT	+0.0100%	1h	4,361.6	+0.003%	$264K	$793K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,364.1	+0.061%	$560	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,361	−0.010%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,364.2	+0.063%	$379K	$1.2M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0144%	1h	4,365.2	+0.085%	$42K	$155K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,365.4	+0.091%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0285%	1h	4,366.6	+0.118%	$1.3M	$1.5M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0296%	1h	4,367.6	+0.142%	$976K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0960%	1h	4,375.6	+0.325%	$29K	$23K	10x	as long as short