Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.036%

Price spread now: Orderly against dYdX−0.086%7-day average — · you buy dearer than you sell

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

Long on dYdX 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

Funding pays, the price is against you. Orderly is 0.086% cheaper against dYdX than usual: you would sell low and buy high (spread −0.086% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PAXG-USD	4,338.4	0	get 0.0000% / 1h	54m 33s	$101K	$12K	5x
Short	Orderly PERP_PAXG_USDC_mythos	4,334.6	0.0100	get 0.0050% / 4h	3h 54m	$556	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against dYdX. 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 dYdXbpFee OrderlybpOrdersPrice spread, now −0.086%Rate

Funding earned: $21
Price spread: −0.086% → 0.000%: −$8.65
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$3.65
Costs to cover: 0.160%
Break-even: 8.2 days

Slippage unknown: dYdX: live order book, 64 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 dYdX live order book, 64 min ago	10.37 bp	15.4 bp −$15	31.1 bp −$311	198.0 bp −$19.8K	994.2 bp −$497.1K
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
GRVT PAXG_USDT_Perp	−0.0296%	4h	4,334.9	−0.080%	$1.5M	$1.9M	10x	as long as short
ApeX Omni PAXGUSDT	−0.0248%	1h	4,334.4	−0.091%	$262K	$788K	50x	as long as short
Lighter PAXG	−0.0168%	1h	4,332.9	−0.126%	$1.4M	$362K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0144%	1h	4,333.6	−0.109%	$42K	$155K	20x	as long as short
dYdX PAXG-USDlong	0.0000%	1h	4,338.4	long leg	$101K	$12K	5x
Gate PAXG_USDT	0.0000%	8h	4,336.1	−0.052%	$15.6M	$3.3M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,327.8	−0.243%	$2K	$3.6M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,336.9	−0.032%	$7.9M	$868K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,341.3	+0.068%	$903K	$684K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.206%	$1K	$151K	30x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_PAXGUSD	+0.0065%	1h	4,334.1	−0.099%	$1.3M	$1.4M	20x	as long as short
Binance PAXGUSDT	+0.0081%	4h	4,334.1	−0.099%	$80.0M	$71.1M	75x	as long as short
MEXC PAXG_USDT	+0.0084%	4h	4,337.4	−0.021%	$16.1M	$1.0M	100x	as long as short
Extended PAXG-USD	+0.0088%	1h	4,333.1	−0.121%	$378K	$1.4M	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,334.4	−0.091%	$81K	$3.7M	50x	as long as short
Orderly PERP_PAXG_USDC_mythosshort	+0.0100%	4h	4,334.6	−0.086%	$556	—	10x
Hyperliquid PAXG	+0.0100%	1h	4,334.3	−0.093%	$20.7M	$2.3M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,333.5	−0.111%	$904K	$27K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,336.3	−0.048%	$1.0M	$338K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,334.9	−0.079%	$14.9M	$3.9M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,337.4	−0.023%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,334.8	−0.081%	$9.7M	$15.1M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,335	−0.078%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,334.9	−0.081%	$1.3M	$801K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,334.1	−0.098%	$12.3M	$227K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,332	−0.146%	$1.5M	$40K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,333.6	−0.110%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0296%	1h	4,341	+0.061%	$988K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0992%	1h	4,344.8	+0.149%	$29K	$23K	10x	as long as short