Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: ApeX Omni against KuCoin−0.108%97s7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.327% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 3 days (all we have)+0.030%+$3 · spread now −0.108%, 7d avg −0.063%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.045% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.063%. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PAXGUSDTM	4,360.8	0.0100	pay 0.0050% / 4h	19m 55s	$27.3M	$5.4M	30x
Short	ApeX Omni PAXGUSDT	4,356.1	0.0100	get 0.0013% / 1h	19m 55s	$263K	$795K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.108%Rate

Funding earned: $0
Price spread: −0.108% → −0.063%: −$4.55
Slippage, 4 orders: −$10.72
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$37.27
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; ApeX Omni: live order book, 59 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 KuCoin live order book, 4 min ago	0.36 bp	8.0 bp −$8	20.1 bp −$201	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 59 min ago	2.53 bp	7.9 bp −$8	94.0 bp −$940	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
Injective PAXG/USDC PERP	−0.0007%	1h	4,347.3	−0.310%	$1K	$151K	30x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,358.3	−0.057%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,361.8	+0.022%	$15.8M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,356.9	−0.091%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,363.1	+0.053%	$7.9M	$866K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,363.4	+0.059%	$911K	$645K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,358	−0.064%	$1.4M	$270K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,358.3	−0.058%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,359.3	−0.035%	$20.4M	$1.9M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,359.8	−0.023%	$909K	$30K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PAXG	+0.0100%	1h	4,360.4	−0.010%	$1.0M	$339K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,360.1	−0.016%	$80.1M	$69.4M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,360.3	−0.012%	$15.2M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,357.8	−0.069%	$16.1M	$1.2M	100x	as long as short
KuCoin PAXGUSDTMlong	+0.0100%	4h	4,360.8	long leg	$27.3M	$5.4M	30x
Bitget PAXGUSDT	+0.0100%	4h	4,360.6	−0.006%	$9.8M	$14.5M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,360.3	−0.013%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,360.2	−0.013%	$1.4M	$971K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,359	−0.043%	$12.5M	$102K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,357.3	−0.081%	$1.5M	$2.0M	10x	as long as short
ApeX Omni PAXGUSDTshort	+0.0100%	1h	4,356.1	−0.108%	$263K	$795K	50x
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,358.6	−0.051%	$559	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,357	−0.088%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,358.9	−0.044%	$378K	$1.2M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0128%	1h	4,360.1	−0.016%	$48K	$143K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,358.6	−0.051%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0286%	1h	4,359.8	−0.024%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0296%	1h	4,362.1	+0.029%	$976K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0976%	1h	4,369.6	+0.201%	$29K	$23K	10x	as long as short