Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.053%

Price spread now: Coinbase International against KuCoin+0.191%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.275%+$27 on $10k

Price spread, last 3 days (all we have)−0.132%−$13 · spread now +0.191%, 7d avg +0.047%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.144% dearer against KuCoin than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PAXGUSDTM	4,357.9	0.0100	pay 0.0050% / 4h	3h 32m	$28.4M	$5.6M	30x
Short	Coinbase International PAXG-PERP-INTX	4,366.2	0.0304	get 0.0038% / 1h	32m 19s	$976K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.191%Rate

Funding earned: $42.84
Price spread: +0.191% → +0.047%: $14.44
Slippage, 4 orders: −$10.16
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $25.12
Costs to cover: 0.322%
Break-even: 2.9 days

Slippage from KuCoin: live order book, 2 min ago; Coinbase International: live order book, 1 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, 2 min ago	0.86 bp	9.0 bp −$9	22.5 bp −$225	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	2.94 bp	7.9 bp −$8	13.0 bp −$130	163.2 bp −$16.3K	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	4,355.2	−0.061%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,357.4	−0.010%	$15.7M	$3.5M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,351.5	−0.146%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,358.9	+0.023%	$7.9M	$871K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,363.1	+0.120%	$907K	$658K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	−0.242%	$1K	$151K	30x	as long as short
GRVT PAXG_USDT_Perp	+0.0090%	4h	4,357.7	−0.003%	$1.5M	$2.1M	10x	as long as short
Lighter PAXG	+0.0096%	1h	4,354.4	−0.078%	$1.4M	$270K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,355.4	−0.057%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,356.2	−0.038%	$20.8M	$2.1M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PAXGUSDT	+0.0100%	4h	4,356.8	−0.023%	$909K	$29K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,356.8	−0.024%	$1.0M	$368K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,355.7	−0.048%	$80.1M	$71.1M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,356.7	−0.027%	$15.1M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,357.4	−0.011%	$16.2M	$1.2M	100x	as long as short
KuCoin PAXGUSDTMlong	+0.0100%	4h	4,357.9	long leg	$28.4M	$5.6M	30x
Bitget PAXGUSDT	+0.0100%	4h	4,355.9	−0.045%	$9.7M	$15.0M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,356.7	−0.026%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,356.9	−0.022%	$1.4M	$853K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,358.3	+0.010%	$12.5M	$104K	—	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,355.5	−0.055%	$263K	$785K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,355.7	−0.049%	$559	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,354	−0.088%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,354.7	−0.072%	$382K	$1.7M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0136%	1h	4,358.3	+0.010%	$42K	$157K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,355.5	−0.055%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0208%	1h	4,355.7	−0.048%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0304%	1h	4,366.2	+0.191%	$976K	$1.1M	50x
01 Exchange PAXGUSD	+0.1024%	1h	4,366.2	+0.192%	$29K	$23K	10x	as long as short