Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Deribit against Paradex+0.106%7-day average +0.076% · 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−$23as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Paradex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.110%−$11 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.106%, 7d avg +0.076%

Together, before fees−0.119%+ Points / potential airdropParadex: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.029% dearer against Paradex than usual: you sell high and buy low (spread +0.106% now, against its 7-day average of +0.076%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PAXG-USD-PERP	4,333.7	0.0100	pay 0.0100% / 8h	3h 49m	$81K	$3.7M	50x
Short	Deribit PAXG_USDC-PERPETUAL	4,338.3	0	get 0.0000% / 1h	49m 38s	$7.9M	$868K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$20.95
Price spread: +0.106% → +0.076%: $2.91
Slippage, 4 orders: −$15.31
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$44.35
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from Paradex: live order book, 5 min ago; Deribit: live order book, 4 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, 5 min ago	2.26 bp	4.3 bp −$4	101.9 bp −$1,019	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	3.48 bp	7.8 bp −$8	14.0 bp −$140	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
ApeX Omni PAXGUSDT	−0.0232%	1h	4,332.1	−0.038%	$262K	$788K	50x	as long as short
Lighter PAXG	−0.0192%	1h	4,332.5	−0.029%	$1.4M	$362K	25x	as long as short
GRVT PAXG_USDT_Perp	−0.0172%	4h	4,334.2	+0.012%	$1.5M	$1.9M	10x	as long as short
Hibachi PAXG/USDT-P	−0.0144%	1h	4,334.6	+0.020%	$42K	$154K	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,334.8	+0.024%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,336.2	+0.057%	$15.6M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,330.3	−0.080%	$2K	$3.6M	20x	as long as short
Deribit PAXG_USDC-PERPETUALshort	0.0000%	1h	4,338.3	+0.106%	$7.9M	$868K	50x
HTX PAXG-USDT	0.0000%	4h	4,341.8	+0.186%	$904K	$683K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.313%	$1K	$151K	30x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_PAXGUSD	+0.0065%	1h	4,335	+0.029%	$1.3M	$1.4M	20x	as long as short
Extended PAXG-USD	+0.0072%	1h	4,332	−0.039%	$378K	$1.4M	25x	as long as short
MEXC PAXG_USDT	+0.0072%	4h	4,337.3	+0.082%	$16.1M	$1.0M	100x	as long as short
Binance PAXGUSDT	+0.0073%	4h	4,333.3	−0.010%	$79.9M	$71.1M	75x	as long as short
Paradex PAXG-USD-PERPlong	+0.0100%	8h	4,333.7	long leg	$81K	$3.7M	50x
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,335.6	+0.043%	$556	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,333.9	+0.004%	$20.7M	$2.3M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,333.6	−0.004%	$904K	$27K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,336	+0.052%	$1.0M	$338K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,334.7	+0.022%	$14.9M	$3.8M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,337	+0.075%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,334.5	+0.017%	$9.7M	$15.1M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,334.5	+0.018%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,334.7	+0.022%	$1.3M	$801K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,334.4	+0.015%	$12.3M	$227K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,334	+0.006%	$1.5M	$39K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,335.3	+0.035%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0296%	1h	4,341	+0.168%	$988K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1024%	1h	4,344.6	+0.251%	$29K	$23K	10x	as long as short