Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0196%/8h= −21.5% APRpaid last 24h −0.059%

Price spread now: Aster against Coinbase International−0.110%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 3 days (all we have)−0.028%−$3 · spread now −0.110%, 7d avg −0.077%

Together, before fees−0.329%+ Points / potential airdropAster: Stage 5 · farm board−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Aster is 0.033% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.077%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PAXG-PERP-INTX	4,362.5	0.0296	pay 0.0037% / 1h	58m 00s	$976K	$1.1M	50x
Short	Aster PAXGUSDT	4,357.7	0.0100	get 0.0050% / 4h	58m 00s	$909K	$30K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$41.16
Price spread: −0.110% → −0.077%: −$3.34
Slippage, 4 orders: −$5.67
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$68.17
Costs to cover: 0.237%
Break-even: never at this rate

Slippage from Coinbase International: live order book, just now; Aster: live order book, 20 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 Coinbase International live order book, just now	1.79 bp	7.5 bp −$7	9.5 bp −$95	doesn't fit	doesn't fit
Sell Aster live order book, 20 min ago	0.01 bp	4.4 bp −$4	4.8 bp −$48	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
Injective PAXG/USDC PERP	−0.0007%	1h	4,347.3	−0.349%	$1K	$151K	30x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,358.3	−0.097%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,359.5	−0.070%	$15.8M	$3.5M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,351.4	−0.255%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,360.5	−0.048%	$7.9M	$866K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,359.8	−0.062%	$911K	$634K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,356.4	−0.140%	$1.4M	$269K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,357.4	−0.119%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,357.2	−0.122%	$20.4M	$1.8M	10x	as long as short
Aster PAXGUSDTshort	+0.0100%	4h	4,357.7	−0.110%	$909K	$30K	50x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PAXG	+0.0100%	1h	4,358.8	−0.086%	$1.0M	$344K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,356.7	−0.135%	$80.2M	$67.9M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,358.3	−0.097%	$15.2M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,355.8	−0.154%	$15.9M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,359	−0.081%	$27.0M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,358	−0.103%	$9.2M	$13.4M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,357.5	−0.116%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,358.1	−0.103%	$1.4M	$955K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,359	−0.082%	$12.5M	$104K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,359.8	−0.064%	$1.5M	$1.9M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,357.6	−0.113%	$264K	$796K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,357.5	−0.116%	$559	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,354	−0.196%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,355.7	−0.156%	$378K	$1.2M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0152%	1h	4,357.9	−0.106%	$48K	$139K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,357.5	−0.115%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0286%	1h	4,358.5	−0.093%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTXlong	+0.0296%	1h	4,362.5	long leg	$976K	$1.1M	50x
01 Exchange PAXGUSD	+0.1104%	1h	4,369.3	+0.155%	$29K	$22K	10x	as long as short