Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.002%

Price spread now: Paradex against Kraken Futures+0.015%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Kraken Futures Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.231%−$23 on $10k

Price spread, last 3 days (all we have)−0.081%−$8 · spread now +0.015%, 7d avg −0.045%

Together, before fees−0.312%+ Points / potential airdropParadex: Active · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Paradex is 0.059% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.015% now, against its 7-day average of −0.045%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 4 days (−0.231% in total) that is about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PAXGUSD	4,347.1	0.0173	pay 0.0022% / 1h	54m 10s	$1.3M	$1.4M	20x
Short	Paradex PAXG-USD-PERP	4,347.7	0.0100	get 0.0100% / 8h	5h 54m	$80K	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Kraken FuturesbpFee ParadexbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$15.34
Price spread: +0.015% → −0.045%: $5.94
Slippage, 4 orders: −$8.58
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$31.98
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Paradex: 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 Kraken Futures live order book, 4 min ago	0.34 bp	6.9 bp −$7	11.4 bp −$114	36.5 bp −$3,654	doesn't fit
Sell Paradex live order book, 5 min ago	2.23 bp	4.2 bp −$4	92.7 bp −$927	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	4,347.9	+0.021%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,348.5	+0.033%	$15.7M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,341.4	−0.130%	$2K	$3.7M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,349.6	+0.058%	$7.9M	$868K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,349.3	+0.052%	$905K	$647K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.006%	$1K	$151K	30x	as long as short
Hibachi PAXG/USDT-P	+0.0064%	1h	4,345.7	−0.031%	$42K	$154K	20x	as long as short
GRVT PAXG_USDT_Perp	+0.0070%	4h	4,346.4	−0.015%	$1.5M	$2.0M	10x	as long as short
Lighter PAXG	+0.0096%	1h	4,345.7	−0.032%	$1.4M	$304K	25x	as long as short
Paradex PAXG-USD-PERPshort	+0.0100%	8h	4,347.7	+0.015%	$80K	$3.7M	50x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PAXG	+0.0100%	1h	4,346.7	−0.008%	$20.8M	$2.2M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,346.4	−0.016%	$907K	$30K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,348.9	+0.043%	$1.0M	$340K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,345.5	−0.035%	$80.1M	$70.7M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,347.8	+0.017%	$15.2M	$3.5M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,347.4	+0.009%	$16.2M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,348.9	+0.043%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,346.6	−0.010%	$9.6M	$15.0M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,348	+0.021%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,346.3	−0.016%	$1.3M	$803K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,345.6	−0.033%	$12.5M	$104K	—	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,344.7	−0.055%	$263K	$792K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,345.9	−0.026%	$558	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,344	−0.070%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,344.6	−0.056%	$382K	$1.4M	25x	as long as short
Kraken Futures PF_PAXGUSDlong	+0.0173%	1h	4,347.1	long leg	$1.3M	$1.4M	20x
Reya PAXGRUSDPERP	+0.0189%	1h	4,346.7	−0.008%	$21K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,349.7	+0.060%	$971K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1016%	1h	4,356.9	+0.227%	$29K	$23K	10x	as long as short