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 −0.053%

Price spread now: Orderly against Coinbase International−0.136%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Orderly is 0.136% cheaper against Coinbase International than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PAXG-PERP-INTX	4,367.6	0.0296	pay 0.0037% / 1h	1m 44s	$976K	$1.1M	50x
Short	Orderly PERP_PAXG_USDC_mythos	4,361.7	0.0100	get 0.0050% / 4h	1m 44s	$560	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.136%Rate

Funding earned: −$41.16
Price spread: −0.136% → 0.000%: −$13.55
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$70.71
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 2 min ago; Orderly: 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 Coinbase International live order book, 2 min ago	1.76 bp	7.6 bp −$8	9.1 bp −$91	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 PERP	−0.0007%	1h	4,347.3	−0.465%	$1K	$151K	30x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,362.4	−0.120%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,366.1	−0.035%	$15.8M	$3.7M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,357.9	−0.223%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,365.1	−0.058%	$7.9M	$866K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,365.2	−0.057%	$910K	$651K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,363.4	−0.096%	$1.4M	$272K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,363.9	−0.084%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,364	−0.083%	$20.5M	$1.9M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,364.4	−0.073%	$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	4,365.3	−0.052%	$1.0M	$363K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,364.6	−0.070%	$80.1M	$69.9M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,365.4	−0.051%	$15.2M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,361.9	−0.131%	$16.2M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,366.4	−0.028%	$28.5M	$5.6M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,365.9	−0.039%	$9.6M	$15.0M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,365.1	−0.058%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,362.9	−0.107%	$1.4M	$972K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,362.5	−0.118%	$12.5M	$104K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,361.4	−0.142%	$1.5M	$2.1M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,360.9	−0.153%	$264K	$794K	50x	as long as short
Orderly PERP_PAXG_USDC_mythosshort	+0.0100%	4h	4,361.7	−0.136%	$560	—	10x
Phemex PAXGUSDT	+0.0100%	4h	4,359	−0.197%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,363.8	−0.088%	$379K	$1.2M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0152%	1h	4,362.4	−0.119%	$42K	$149K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,362.9	−0.107%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0285%	1h	4,362.8	−0.109%	$1.3M	$1.5M	20x	as long as short
Coinbase International PAXG-PERP-INTXlong	+0.0296%	1h	4,367.6	long leg	$976K	$1.1M	50x
01 Exchange PAXGUSD	+0.0960%	1h	4,373	+0.123%	$29K	$23K	10x	as long as short