Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h +0.001%

Price spread now: Paradex against Orderly+0.046%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.046% dearer against Orderly than usual: you sell high and buy low (spread +0.046% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PAXG_USDC_mythos	4,327.9	0.0100	pay 0.0050% / 4h	3h 01m	$555	—	10x
Short	Paradex PAXG-USD-PERP	4,329.9	0.0086	get 0.0086% / 8h	7h 01m	$80K	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$2.92
Price spread: +0.046% → 0.000%: $4.56
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$8.36
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Paradex: live order book, 3 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 Paradex live order book, 3 min ago	2.26 bp	4.3 bp −$4	105.4 bp −$1,054	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
dYdX PAXG-USD	−0.0248%	1h	4,332.2	+0.099%	$115K	$15K	5x	as long as short
Lighter PAXG	−0.0136%	1h	4,326.2	−0.040%	$1.4M	$636K	25x	as long as short
Kraken Futures PF_PAXGUSD	−0.0096%	1h	4,329.2	+0.029%	$1.2M	$2.1M	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0078%	4h	4,331.9	+0.093%	$1.5M	$2.0M	10x	as long as short
Hibachi PAXG/USDT-P	−0.0024%	1h	4,333.5	+0.130%	$43K	$189K	20x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,330.6	+0.062%	$15.7M	$4.1M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,324.4	−0.080%	$2K	$3.1M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,332.2	+0.099%	$7.9M	$428K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,334.2	+0.144%	$909K	$821K	75x	as long as short
MEXC PAXG_USDT	+0.0018%	4h	4,333	+0.118%	$16.7M	$1.2M	100x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PAXGUSDT	+0.0020%	4h	4,326.2	−0.040%	$9.2M	$16.3M	50x	as long as short
Binance PAXGUSDT	+0.0021%	4h	4,327.1	−0.019%	$80.3M	$82.0M	75x	as long as short
Extended PAXG-USD	+0.0024%	1h	4,325	−0.067%	$375K	$1.5M	25x	as long as short
ApeX Omni PAXGUSDT	+0.0030%	1h	4,330.4	+0.058%	$262K	$806K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.448%	$1K	$151K	30x	as long as short
Aster PAXGUSDT	+0.0037%	4h	4,329.1	+0.029%	$906K	$38K	50x	as long as short
Hyperliquid PAXG	+0.0076%	1h	4,327.6	−0.007%	$21.3M	$2.6M	10x	as long as short
Paradex PAXG-USD-PERPshort	+0.0086%	8h	4,329.9	+0.046%	$80K	$4.4M	50x
Pacifica PAXG	+0.0100%	1h	4,332.3	+0.102%	$1.0M	$308K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,327.6	−0.007%	$15.0M	$4.6M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,329.9	+0.047%	$28.9M	$5.5M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,330	+0.049%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,327.9	0.000%	$1.2M	$857K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,331.7	+0.089%	$12.2M	$291K	—	as long as short
Orderly PERP_PAXG_USDC_mythoslong	+0.0100%	4h	4,327.9	long leg	$555	—	10x
Phemex PAXGUSDT	+0.0100%	4h	4,326	−0.044%	$1.5M	$80K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,327.2	−0.015%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0232%	1h	4,332.1	+0.097%	$934K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.1288%	1h	4,387.3	+1.372%	$29K	$24K	10x	as long as short