Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0055%/8h= −6.1% APRpaid last 24h +0.033%

Price spread now: Kraken Futures against Gate−0.006%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.486%+$49 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.006%, 7d avg −0.037%

Together, before fees+0.493%+$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.032% dearer against Gate than usual: you sell high and buy low (spread −0.006% now, against its 7-day average of −0.037%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 46 hours. Mind the row above: over the last 7 days funding on this pair paid +0.486%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PAXG_USDT	4,314.2	0	get 0.0000% / 8h	23m 16s	$15.6M	$3.7M	100x
Short	Kraken Futures PF_PAXGUSD	4,314	−0.0055	pay 0.0007% / 1h	23m 16s	$1.2M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$11.62
Price spread: −0.006% → −0.037%: $3.16
Slippage, 4 orders: −$7.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$40.6
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Kraken Futures: live order book, 5 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 Gate live order book, 5 min ago	0.12 bp	8.0 bp −$8	11.1 bp −$111	24.5 bp −$2,453	59.1 bp −$29.6K
Sell Kraken Futures live order book, 5 min ago	0.35 bp	8.4 bp −$8	15.5 bp −$155	39.9 bp −$3,985	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
Lighter PAXG	−0.0200%	1h	4,310.8	−0.079%	$1.4M	$493K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0144%	1h	4,311.8	−0.057%	$42K	$170K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0106%	4h	4,310.8	−0.079%	$1.5M	$2.0M	10x	as long as short
Kraken Futures PF_PAXGUSDshort	−0.0055%	1h	4,314	−0.006%	$1.2M	$1.8M	20x
dYdX PAXG-USD	0.0000%	1h	4,313.4	−0.020%	$101K	$12K	5x	as long as short
Gate PAXG_USDTlong	0.0000%	8h	4,314.2	long leg	$15.6M	$3.7M	100x
SunX PAXG-USDT	0.0000%	4h	4,309.9	−0.100%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,317.2	+0.070%	$7.9M	$659K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,315.6	+0.033%	$904K	$790K	75x	as long as short
MEXC PAXG_USDT	+0.0014%	4h	4,318.1	+0.090%	$16.6M	$1.1M	100x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PAXG-USD	+0.0016%	1h	4,311.7	−0.057%	$376K	$1.5M	25x	as long as short
Binance PAXGUSDT	+0.0017%	4h	4,313	−0.028%	$79.4M	$75.6M	75x	as long as short
Aster PAXGUSDT	+0.0023%	4h	4,312.7	−0.035%	$900K	$30K	50x	as long as short
ApeX Omni PAXGUSDT	+0.0028%	1h	4,311.2	−0.069%	$261K	$773K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.767%	$1K	$151K	30x	as long as short
Bitget PAXGUSDT	+0.0064%	4h	4,312.4	−0.041%	$9.5M	$15.9M	50x	as long as short
Paradex PAXG-USD-PERP	+0.0097%	8h	4,311.3	−0.067%	$85K	$3.6M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,312.8	−0.032%	$20.7M	$2.3M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,314.2	−0.001%	$1.0M	$302K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,313.4	−0.019%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,314.7	+0.013%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,313.2	−0.024%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,313.5	−0.016%	$1.3M	$840K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,309.6	−0.108%	$12.2M	$218K	—	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,311.6	−0.060%	$553	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,312	−0.051%	$1.5M	$53K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,312.2	−0.047%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,316.2	+0.046%	$953K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0952%	1h	4,323.7	+0.220%	$29K	$23K	10x	as long as short