Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.022%

Price spread now: GRVT against Hyperliquid+0.173%45s7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as 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−$220.216% of the position

Long on Hyperliquid Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 7 days−0.179%−$18 · spread now +0.173%, 7d avg +0.014%

Together, before fees−0.158%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board−$16 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: GRVT is 0.159% dearer against Hyperliquid than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.014%. The two prices were read 45 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	Hyperliquid PAXG	4,360	0.0100	pay 0.0013% / 1h	42m 41s	$20.8M	$2.1M	10x
Short	GRVT PAXG_USDT_Perp	4,367.6	0.0100	get 0.0050% / 4h	3h 42m	$1.6M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Hyperliquid. 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 HyperliquidbpFee GRVTbpOrdersPrice spread, now +0.173%Rate

Funding earned: $0
Price spread: +0.173% → +0.014%: $15.9
Slippage, 4 orders: −$3.6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$5.7
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; GRVT: live order book, 1 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 Hyperliquid live order book, 10 min ago	0.11 bp	5.9 bp −$6	6.9 bp −$69	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	0.01 bp	4.6 bp −$5	5.7 bp −$57	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	4,363.1	+0.071%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,361.3	+0.030%	$15.7M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,356.1	−0.089%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,364.8	+0.110%	$7.9M	$871K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,366.7	+0.153%	$910K	$662K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	−0.292%	$1K	$151K	30x	as long as short
Lighter PAXG	+0.0096%	1h	4,359.1	−0.022%	$1.4M	$270K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,359.5	−0.012%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXGlong	+0.0100%	1h	4,360	long leg	$20.8M	$2.1M	10x
Aster PAXGUSDT	+0.0100%	4h	4,362.3	+0.052%	$910K	$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	4,360.9	+0.021%	$1.0M	$365K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,359.8	−0.004%	$80.2M	$71.0M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,361.1	+0.025%	$15.1M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,360	0.000%	$16.2M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,362.1	+0.047%	$28.4M	$5.6M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,360.9	+0.020%	$9.7M	$15.5M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,360.7	+0.016%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,362	+0.044%	$1.4M	$855K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,367.4	+0.169%	$12.5M	$104K	—	as long as short
GRVT PAXG_USDT_Perpshort	+0.0100%	4h	4,367.6	+0.173%	$1.6M	$2.0M	10x
ApeX Omni PAXGUSDT	+0.0100%	1h	4,365.5	+0.125%	$264K	$784K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,360.8	+0.018%	$560	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,361	+0.023%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,358.9	−0.025%	$381K	$1.5M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0128%	1h	4,367.6	+0.174%	$42K	$155K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,361.2	+0.026%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0208%	1h	4,361.2	+0.026%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0304%	1h	4,371.6	+0.266%	$977K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1000%	1h	4,372.1	+0.277%	$29K	$23K	10x	as long as short