Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0034%/8h= −3.8% APRpaid last 24h +0.004%

Price spread now: Kraken Futures against Paradex+0.017%7-day average +0.044% · 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−$26as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Paradex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.239%+$24 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now +0.017%, 7d avg +0.044%

Together, before fees+0.325%+ Points / potential airdropParadex: Active · farm board+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.027% cheaper against Paradex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.044%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.239%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PAXG-USD-PERP	4,336.9	0.0100	pay 0.0100% / 8h	3h 22m	$81K	$3.6M	50x
Short	Kraken Futures PF_PAXGUSD	4,337.6	0.0065	get 0.0008% / 1h	22m 15s	$1.3M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$7.21
Price spread: +0.017% → +0.044%: −$2.74
Slippage, 4 orders: −$9.4
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$33.34
Costs to cover: 0.234%
Break-even: never at this rate

Slippage from Paradex: live order book, 2 min ago; Kraken Futures: 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	2.24 bp	4.2 bp −$4	97.9 bp −$979	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	0.35 bp	7.4 bp −$7	14.9 bp −$149	42.6 bp −$4,265	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
Hibachi PAXG/USDT-P	−0.0160%	1h	4,334.7	−0.051%	$42K	$154K	20x	as long as short
Lighter PAXG	−0.0152%	1h	4,335.7	−0.027%	$1.4M	$368K	25x	as long as short
GRVT PAXG_USDT_Perp	−0.0080%	4h	4,334.5	−0.054%	$1.5M	$1.9M	10x	as long as short
ApeX Omni PAXGUSDT	−0.0068%	1h	4,334.5	−0.055%	$262K	$786K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,334.8	−0.048%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,338.5	+0.038%	$15.6M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,332.3	−0.106%	$2K	$3.5M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,340.3	+0.080%	$7.9M	$843K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,341.1	+0.098%	$903K	$689K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.241%	$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
MEXC PAXG_USDT	+0.0036%	4h	4,339.2	+0.054%	$16.1M	$1.0M	100x	as long as short
Binance PAXGUSDT	+0.0036%	4h	4,337.3	+0.009%	$79.9M	$70.5M	75x	as long as short
Extended PAXG-USD	+0.0040%	1h	4,336.2	−0.016%	$379K	$1.5M	25x	as long as short
Kraken Futures PF_PAXGUSDshort	+0.0065%	1h	4,337.6	+0.017%	$1.3M	$1.4M	20x
Aster PAXGUSDT	+0.0093%	4h	4,336.7	−0.003%	$905K	$27K	50x	as long as short
Paradex PAXG-USD-PERPlong	+0.0100%	8h	4,336.9	long leg	$81K	$3.6M	50x
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,336.1	−0.018%	$556	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,337.1	+0.005%	$20.8M	$2.3M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,338.2	+0.031%	$1.0M	$343K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,338	+0.027%	$14.9M	$3.8M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,340.1	+0.075%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,337.9	+0.024%	$9.7M	$15.2M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,337.5	+0.016%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,337.4	+0.012%	$1.3M	$799K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,334	−0.065%	$12.3M	$227K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,334	−0.066%	$1.5M	$38K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,336.8	−0.001%	$21K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0296%	1h	4,339.1	+0.052%	$956K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0920%	1h	4,347.4	+0.243%	$29K	$24K	10x	as long as short