Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.027%

Price spread now: Bybit against Reya+0.030%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Bybit is 0.030% dearer against Reya than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$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 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PAXGRUSDPERP	4,343	0.0189	pay 0.0024% / 1h	36m 09s	$21K	—	100x
Short	Bybit PAXGUSDT	4,344.3	0.0100	get 0.0050% / 4h	1h 36m	$15.0M	$3.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Reya. 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 ReyabpFee BybitbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$18.79
Price spread: +0.030% → 0.000%: $3.04
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$32.74
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bybit: 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 Reya no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.12 bp	8.4 bp −$8	11.0 bp −$110	26.1 bp −$2,612	doesn't fit

Reya: 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	0.0000%	1h	4,340.8	−0.051%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,345.6	+0.059%	$15.6M	$3.5M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,338.8	−0.097%	$2K	$3.7M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,346.5	+0.079%	$7.9M	$868K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,347.1	+0.094%	$904K	$657K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.099%	$1K	$151K	30x	as long as short
GRVT PAXG_USDT_Perp	+0.0048%	4h	4,341.5	−0.035%	$1.5M	$1.9M	10x	as long as short
Hibachi PAXG/USDT-P	+0.0048%	1h	4,342.3	−0.016%	$42K	$154K	20x	as long as short
ApeX Omni PAXGUSDT	+0.0066%	1h	4,340.7	−0.054%	$263K	$789K	50x	as long as short
Lighter PAXG	+0.0096%	1h	4,342.2	−0.019%	$1.4M	$340K	25x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PAXG-USD-PERP	+0.0100%	8h	4,343	−0.001%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,343.6	+0.013%	$20.8M	$2.3M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,343.9	+0.019%	$906K	$30K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,344.1	+0.025%	$1.0M	$340K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,343	0.000%	$80.1M	$70.5M	75x	as long as short
Bybit PAXGUSDTshort	+0.0100%	4h	4,344.3	+0.030%	$15.0M	$3.8M	75x
MEXC PAXG_USDT	+0.0100%	4h	4,343.4	+0.010%	$16.1M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,346.3	+0.076%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,343.9	+0.020%	$9.6M	$14.9M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,344.3	+0.030%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,343.9	+0.021%	$1.3M	$803K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,343.1	+0.002%	$12.5M	$104K	—	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,341.9	−0.026%	$557	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,341	−0.046%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,341.8	−0.027%	$382K	$1.4M	25x	as long as short
Kraken Futures PF_PAXGUSD	+0.0173%	1h	4,344.2	+0.026%	$1.3M	$1.4M	20x	as long as short
Reya PAXGRUSDPERPlong	+0.0189%	1h	4,343	long leg	$21K	—	100x
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,349.7	+0.153%	$971K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0992%	1h	4,353.8	+0.248%	$29K	$23K	10x	as long as short