Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h +0.035%

Price spread now: Aster against Hibachi+0.079%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$410.415% of the position

Long on Hibachi Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.519%−$52 on $10k

Price spread, last 3 days (all we have)−0.072%−$7 · spread now +0.079%, 7d avg +0.011%

Together, before fees−0.591%+ Points / potential airdropHibachi: Active · Aster: Stage 5 · farm board−$59 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.068% dearer against Hibachi than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of +0.011%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.3 days. At the pace of the last 7 days (−0.519% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi PAXG/USDT-P	4,364.8	0.0136	pay 0.0017% / 1h	57m 04s	$42K	$155K	20x
Short	Aster PAXGUSDT	4,368.2	0.0100	get 0.0050% / 4h	3h 57m	$911K	$30K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hibachi. 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 HibachibpFee AsterbpOrdersPrice spread, now +0.079%Rate

Funding earned: −$7.56
Price spread: +0.079% → +0.011%: $6.77
Slippage, 4 orders: −$24.49
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$42.28
Costs to cover: 0.415%
Break-even: never at this rate

Slippage from Hibachi: live order book, 17 min ago; Aster: live order book, 16 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 Hibachi live order book, 17 min ago	0.14 bp	14.6 bp −$15	49.9 bp −$499	doesn't fit	doesn't fit
Sell Aster live order book, 16 min ago	0.01 bp	5.2 bp −$5	9.6 bp −$96	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
dYdX PAXG-USD	0.0000%	1h	4,362.4	−0.055%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,370.2	+0.124%	$15.8M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,362.8	−0.046%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,371.1	+0.144%	$8.0M	$871K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,370	+0.119%	$912K	$656K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	−0.401%	$1K	$151K	30x	as long as short
Lighter PAXG	+0.0096%	1h	4,366.4	+0.037%	$1.4M	$262K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,364.8	0.000%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,368.6	+0.087%	$20.5M	$1.9M	10x	as long as short
Aster PAXGUSDTshort	+0.0100%	4h	4,368.2	+0.079%	$911K	$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	4,365.3	+0.013%	$1.0M	$365K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,369.8	+0.115%	$80.3M	$70.5M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,371	+0.141%	$15.2M	$3.7M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,364.6	−0.005%	$16.2M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,369.6	+0.110%	$28.5M	$5.6M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,370.8	+0.138%	$9.6M	$15.2M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,369.2	+0.100%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,369.6	+0.109%	$1.4M	$973K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,365.6	+0.017%	$12.5M	$104K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,365.9	+0.024%	$1.5M	$2.1M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,364.1	−0.015%	$264K	$792K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,366.3	+0.034%	$560	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,364	−0.018%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,368.9	+0.095%	$379K	$1.2M	25x	as long as short
Hibachi PAXG/USDT-Plong	+0.0136%	1h	4,364.8	long leg	$42K	$155K	20x
Reya PAXGRUSDPERP	+0.0189%	1h	4,366.1	+0.029%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0207%	1h	4,369.1	+0.099%	$1.3M	$1.5M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0304%	1h	4,370.1	+0.121%	$977K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0960%	1h	4,375.4	+0.243%	$29K	$23K	10x	as long as short