Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.028%

Price spread now: Orderly against Gate−0.049%7-day average — · you buy dearer than you sell

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

Long on Gate 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 0.049% cheaper against Gate than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PAXG_USDT	4,324.3	0	get 0.0000% / 8h	1h 59m	$15.6M	$3.7M	100x
Short	Orderly PERP_PAXG_USDC_mythos	4,322.2	0.0100	get 0.0050% / 4h	1h 59m	$555	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.049%Rate

Funding earned: $21
Price spread: −0.049% → 0.000%: −$4.86
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$4.86
Costs to cover: 0.210%
Break-even: 8.6 days

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	0.93 bp	10.1 bp −$10	13.0 bp −$130	27.0 bp −$2,697	60.2 bp −$30.1K
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
Lighter PAXG	−0.0136%	1h	4,320.5	−0.088%	$1.4M	$392K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0128%	1h	4,322.9	−0.032%	$42K	$165K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0102%	1h	4,324.3	+0.001%	$1.2M	$1.9M	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0076%	4h	4,324.1	−0.004%	$1.5M	$2.0M	10x	as long as short
ApeX Omni PAXGUSDT	−0.0001%	1h	4,323.5	−0.019%	$261K	$782K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,325.2	+0.022%	$101K	$12K	5x	as long as short
Gate PAXG_USDTlong	0.0000%	8h	4,324.3	long leg	$15.6M	$3.7M	100x
SunX PAXG-USDT	0.0000%	4h	4,320.5	−0.088%	$2K	$3.4M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,328	+0.086%	$7.9M	$835K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,328.8	+0.104%	$902K	$747K	75x	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	+0.0008%	1h	4,321.2	−0.073%	$376K	$1.4M	25x	as long as short
Binance PAXGUSDT	+0.0009%	4h	4,322.6	−0.040%	$79.7M	$74.3M	75x	as long as short
MEXC PAXG_USDT	+0.0010%	4h	4,325.4	+0.025%	$16.5M	$1.0M	100x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.532%	$1K	$151K	30x	as long as short
Aster PAXGUSDT	+0.0034%	4h	4,325	+0.017%	$902K	$27K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0098%	8h	4,322.5	−0.042%	$81K	$3.2M	50x	as long as short
Orderly PERP_PAXG_USDC_mythosshort	+0.0100%	4h	4,322.2	−0.049%	$555	—	10x
Hyperliquid PAXG	+0.0100%	1h	4,322.9	−0.032%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,324.5	+0.005%	$1.0M	$320K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,323.7	−0.013%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,324.9	+0.013%	$28.5M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,322.2	−0.048%	$9.3M	$16.1M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,323.2	−0.025%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,324.5	+0.004%	$1.3M	$811K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,323.7	−0.015%	$12.3M	$221K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,321	−0.076%	$1.5M	$46K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,322.1	−0.050%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0248%	1h	4,333.5	+0.212%	$978K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0776%	1h	4,333.1	+0.204%	$29K	$24K	10x	as long as short