Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.054%

Price spread now: Coinbase International against Orderly+0.064%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.064% dearer against Orderly than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PAXG_USDC_mythos	4,304.5	0.0100	pay 0.0050% / 4h	3h 56m	$552	—	10x
Short	Coinbase International PAXG-PERP-INTX	4,307.2	0.0232	get 0.0029% / 1h	56m 36s	$938K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.064%Rate

Funding earned: $27.72
Price spread: +0.064% → 0.000%: $6.37
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $18.09
Costs to cover: 0.160%
Break-even: 2.4 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 2 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 2 min ago	2.36 bp	8.9 bp −$9	16.6 bp −$166	doesn't fit	doesn't fit

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
GRVT PAXG_USDT_Perp	−0.0326%	4h	4,301.6	−0.067%	$1.5M	$1.9M	10x	as long as short
Lighter PAXG	−0.0304%	1h	4,302.3	−0.051%	$1.4M	$604K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0160%	1h	4,301.8	−0.063%	$40K	$174K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0097%	1h	4,304.7	+0.005%	$1.2M	$1.7M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,306	+0.034%	$100K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,306.3	+0.042%	$15.6M	$3.7M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,300.6	−0.092%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,309.1	+0.108%	$7.9M	$599K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,309.7	+0.120%	$903K	$803K	75x	as long as short
ApeX Omni PAXGUSDT	+0.0015%	1h	4,300.7	−0.088%	$260K	$771K	50x	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	+0.0016%	1h	4,302.7	−0.042%	$377K	$1.6M	25x	as long as short
MEXC PAXG_USDT	+0.0018%	4h	4,310.5	+0.138%	$16.6M	$1.1M	100x	as long as short
Binance PAXGUSDT	+0.0019%	4h	4,303.6	−0.022%	$80.2M	$79.3M	75x	as long as short
Aster PAXGUSDT	+0.0028%	4h	4,304.4	−0.003%	$898K	$32K	50x	as long as short
Bitget PAXGUSDT	+0.0030%	4h	4,304	−0.011%	$9.4M	$16.0M	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.994%	$1K	$151K	30x	as long as short
Bybit PAXGUSDT	+0.0044%	4h	4,305.2	+0.016%	$14.9M	$4.1M	75x	as long as short
Hyperliquid PAXG	+0.0063%	1h	4,305	+0.012%	$20.9M	$2.5M	10x	as long as short
BingX PAXG-USDT	+0.0092%	4h	4,304.9	+0.010%	—	$6.8M	—	as long as short
Paradex PAXG-USD-PERP	+0.0095%	8h	4,303.6	−0.021%	$85K	$4.1M	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,305.8	+0.030%	$1.0M	$304K	10x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,307.5	+0.069%	$28.5M	$5.3M	30x	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,305.1	+0.013%	$1.2M	$856K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,301.5	−0.070%	$12.2M	$230K	—	as long as short
Orderly PERP_PAXG_USDC_mythoslong	+0.0100%	4h	4,304.5	long leg	$552	—	10x
Phemex PAXGUSDT	+0.0100%	4h	4,304	−0.012%	$1.5M	$66K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,303.9	−0.015%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0232%	1h	4,307.2	+0.064%	$938K	$1.0M	50x
01 Exchange PAXGUSD	+0.0848%	1h	4,314.8	+0.239%	$29K	$23K	10x	as long as short