Funding you earn now, next payment 04:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.05 per $10,000 · paid last 24h −0.009%
Price spread now: GRVT against Phemex−0.030%77s7-day average +0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as 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−$620.623% of the position
Funding, last 7 days−0.016%−$2 on $10k
+Price spread, last 4 days (all we have)+0.050%+$5 · spread now −0.030%, 7d avg +0.054%
=Together, before fees+0.034%+ Points / potential airdropGRVT: Active · farm board+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and GRVT is 0.083% cheaper against Phemex than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.054%). Swap the legs. The two prices were read 77 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 | Phemex PAXGUSDT | 4,338 | 0.0100 | pay 0.0050% / 4h | 44m 06s | $1.5M | $39K | 50x |
| Short | GRVT PAXG_USDT_Perp | 4,336.7 | 0.0090 | get 0.0045% / 4h | 44m 06s | $1.5M | $1.9M | 10x |
Phemex PAXGUSDT
GRVT PAXG_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$2.1
- Price spread: −0.030% → +0.054%
- −$8.34
- Slippage, 4 orders
- −$41.31
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$72.75
- Costs to cover
- 0.623%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; GRVT: live order book, 4 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 Phemex live order book, 4 min ago | 5.77 bp | 27.2 bp −$27 | doesn't fit | doesn't fit | doesn't fit |
| Sell GRVT live order book, 4 min ago | 0.01 bp | 4.5 bp −$5 | 5.8 bp −$58 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0120% | 1h | 4,340.2 | +0.050% | $41K | $158K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,337.7 | −0.006% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,343.7 | +0.131% | $15.6M | $3.3M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,338.4 | +0.009% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,344.9 | +0.159% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,344.5 | +0.149% | $905K | $671K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.214% | $1K | $151K | 30x | as long as short |
| Lighter PAXG | +0.0088% | 1h | 4,340.4 | +0.056% | $1.4M | $347K | 25x | as long as short |
| GRVT PAXG_USDT_Perpshort | +0.0090% | 4h | 4,336.7 | −0.030% | $1.5M | $1.9M | 10x | |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,341.2 | +0.074% | $81K | $3.7M | 50x | as long as short |
Hibachi PAXG/USDT-P
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
Lighter PAXG
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,342.4 | +0.101% | $20.8M | $2.4M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,341.6 | +0.083% | $906K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,341.4 | +0.078% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,341.7 | +0.084% | $80.2M | $70.5M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,341.8 | +0.087% | $14.9M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.2 | +0.096% | $16.1M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,344.4 | +0.148% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,343.1 | +0.117% | $9.7M | $14.8M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,341.6 | +0.082% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,342.5 | +0.104% | $1.3M | $801K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,339.2 | +0.029% | $12.4M | $97K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,337.8 | −0.004% | $262K | $788K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,340.4 | +0.055% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,338 | long leg | $1.5M | $39K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,340.4 | +0.055% | $379K | $1.4M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,341.5 | +0.080% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0210% | 1h | 4,343 | +0.116% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,345.2 | +0.166% | $968K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0928% | 1h | 4,350.8 | +0.295% | $29K | $23K | 10x | as long as short |
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD