Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.053%

Price spread now: Coinbase International against Paradex+0.008%7-day average +0.112% · 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−$33as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on Paradex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.253%+$25 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now +0.008%, 7d avg +0.112%

Together, before fees+0.371%+ Points / potential airdropParadex: Active · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.104% cheaper against Paradex than usual: you would sell low and buy high (spread +0.008% now, against its 7-day average of +0.112%). If the spread goes back, that is −$10 on $10k: about 2.6 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PAXG-USD-PERP	4,317.7	0.0098	pay 0.0098% / 8h	1h 32m	$85K	$3.3M	50x
Short	Coinbase International PAXG-PERP-INTX	4,318.1	0.0232	get 0.0029% / 1h	32m 12s	$972K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.008%Rate

Funding earned: $28.23
Price spread: +0.008% → +0.112%: −$10.41
Slippage, 4 orders: −$8.97
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$5.14
Costs to cover: 0.230%
Break-even: 8.3 days

Slippage from Paradex: 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 Paradex live order book, 2 min ago	2.25 bp	4.2 bp −$4	99.6 bp −$996	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	2.23 bp	7.2 bp −$7	11.3 bp −$113	120.0 bp −$12.0K	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
Lighter PAXG	−0.0184%	1h	4,315.5	−0.051%	$1.4M	$465K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0160%	1h	4,318	+0.006%	$44K	$168K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0120%	4h	4,316.8	−0.022%	$1.5M	$2.0M	10x	as long as short
Kraken Futures PF_PAXGUSD	−0.0044%	1h	4,318.9	+0.026%	$1.2M	$1.9M	20x	as long as short
ApeX Omni PAXGUSDT	−0.0034%	1h	4,315.6	−0.050%	$261K	$771K	50x	as long as short
Extended PAXG-USD	−0.0008%	1h	4,316.2	−0.035%	$378K	$625K	25x	as long as short
MEXC PAXG_USDT	−0.0006%	4h	4,322.7	+0.115%	$16.5M	$1.0M	100x	as long as short
Binance PAXGUSDT	−0.0005%	4h	4,317.4	−0.008%	$79.6M	$74.8M	75x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,317.9	+0.004%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,319.7	+0.046%	$15.6M	$3.8M	100x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PAXG-USDT	0.0000%	4h	4,313.6	−0.096%	$2K	$3.4M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,321.7	+0.093%	$7.9M	$850K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,321.1	+0.078%	$904K	$771K	75x	as long as short
Aster PAXGUSDT	+0.0013%	4h	4,319.2	+0.035%	$901K	$27K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.685%	$1K	$151K	30x	as long as short
Paradex PAXG-USD-PERPlong	+0.0098%	8h	4,317.7	long leg	$85K	$3.3M	50x
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,316.2	−0.035%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,317.8	+0.002%	$20.7M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,319.3	+0.036%	$1.0M	$316K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,317.9	+0.005%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,320.1	+0.054%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,317.5	−0.005%	$9.4M	$16.4M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,318.3	+0.013%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,317.9	+0.005%	$1.3M	$814K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,317	−0.017%	$12.2M	$221K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,316	−0.040%	$1.5M	$52K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,316.8	−0.022%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0232%	1h	4,318.1	+0.008%	$972K	$1.1M	50x
01 Exchange PAXGUSD	+0.0792%	1h	4,328.3	+0.245%	$29K	$23K	10x	as long as short