Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0202%/8h= +22.2% APRpaid last 24h +0.012%

Price spread now: Paradex against GRVT−0.055%51s7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$190.191% of the position

Long on GRVT Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.003%$0 · spread now −0.055%, 7d avg −0.050%

Together, before fees+0.004%+ Points / potential airdropGRVT: Active · Paradex: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.050%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.007% in total (about 0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PAXG_USDT_Perp	4,323.3	−0.0104	get 0.0052% / 4h	38m 44s	$1.5M	$2.0M	10x
Short	Paradex PAXG-USD-PERP	4,320.9	0.0098	get 0.0098% / 8h	38m 44s	$85K	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.055%Rate

Funding earned: $42.5
Price spread: −0.055% → −0.050%: −$0.49
Slippage, 4 orders: −$6.07
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: $22.93
Costs to cover: 0.191%
Break-even: 3.2 days

Slippage from GRVT: live order book, 5 min ago; Paradex: live order book, just now.

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	6.0 bp −$6	9.7 bp −$97	7943.0 bp −$794.3K	doesn't fit
Sell Paradex live order book, just now	2.29 bp	4.3 bp −$4	103.7 bp −$1,037	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
Lighter PAXG	−0.0176%	1h	4,319.5	−0.089%	$1.4M	$482K	25x	as long as short
GRVT PAXG_USDT_Perplong	−0.0104%	4h	4,323.3	long leg	$1.5M	$2.0M	10x
Hibachi PAXG/USDT-P	−0.0096%	1h	4,323	−0.008%	$41K	$168K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,322.3	−0.023%	$1.2M	$1.8M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,321.4	−0.043%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,323.7	+0.009%	$15.6M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,318.1	−0.120%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,325.6	+0.053%	$7.9M	$659K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,325.7	+0.057%	$903K	$783K	75x	as long as short
MEXC PAXG_USDT	+0.0012%	4h	4,327.2	+0.090%	$16.7M	$1.0M	100x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PAXGUSDT	+0.0012%	4h	4,321.2	−0.049%	$79.7M	$74.0M	75x	as long as short
Extended PAXG-USD	+0.0016%	1h	4,320	−0.076%	$376K	$1.6M	25x	as long as short
Aster PAXGUSDT	+0.0021%	4h	4,321.9	−0.033%	$902K	$29K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.555%	$1K	$151K	30x	as long as short
Bitget PAXGUSDT	+0.0078%	4h	4,321.3	−0.046%	$9.4M	$15.9M	50x	as long as short
ApeX Omni PAXGUSDT	+0.0081%	1h	4,322.3	−0.023%	$262K	$775K	50x	as long as short
Paradex PAXG-USD-PERPshort	+0.0098%	8h	4,320.9	−0.055%	$85K	$3.5M	50x
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,321.4	−0.044%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,321.9	−0.032%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,323.3	−0.001%	$1.0M	$303K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,321.9	−0.032%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,323.5	+0.004%	$28.7M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,322.6	−0.016%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,321.9	−0.033%	$1.3M	$818K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,322.2	−0.025%	$12.3M	$223K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,323	−0.007%	$1.5M	$52K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,320.6	−0.062%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,322.2	−0.026%	$949K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0896%	1h	4,333.1	+0.227%	$29K	$23K	10x	as long as short