Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h −0.057%

Price spread now: Gate against Reya+0.037%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 Gate

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. Gate is 0.037% dearer against Reya than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PAXGRUSDPERP	4,339.3	0.0189	pay 0.0024% / 1h	46m 06s	$21K	—	100x
Short	Gate PAXG_USDT	4,340.9	0	get 0.0000% / 8h	4h 46m	$15.6M	$3.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.037%Rate

Funding earned: −$39.79
Price spread: +0.037% → 0.000%: $3.69
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$57.1
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Gate: 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 Reya no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	0.46 bp	10.9 bp −$11	15.2 bp −$152	26.7 bp −$2,675	58.9 bp −$29.4K

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
Hibachi PAXG/USDT-P	−0.0128%	1h	4,337.8	−0.034%	$41K	$158K	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,337.7	−0.036%	$101K	$12K	5x	as long as short
Gate PAXG_USDTshort	0.0000%	8h	4,340.9	+0.037%	$15.6M	$3.3M	100x
SunX PAXG-USDT	0.0000%	4h	4,336.4	−0.067%	$2K	$3.6M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,342.7	+0.078%	$7.9M	$868K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,343.4	+0.094%	$904K	$671K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.184%	$1K	$151K	30x	as long as short
Lighter PAXG	+0.0088%	1h	4,337.9	−0.031%	$1.4M	$347K	25x	as long as short
GRVT PAXG_USDT_Perp	+0.0090%	4h	4,336.7	−0.060%	$1.5M	$1.9M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0093%	1h	4,336.1	−0.074%	$262K	$788K	50x	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	4,339.6	+0.006%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,340.2	+0.021%	$20.7M	$2.4M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,339.8	+0.010%	$905K	$30K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,339.9	+0.015%	$1.0M	$339K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,339.3	0.000%	$80.2M	$70.4M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,340.1	+0.018%	$14.9M	$3.8M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,340.3	+0.022%	$16.1M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,342.7	+0.079%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,340.1	+0.019%	$9.6M	$14.8M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,339.3	+0.001%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,340	+0.017%	$1.3M	$799K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,339.2	−0.001%	$12.4M	$97K	—	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,338.9	−0.009%	$557	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,338	−0.030%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,338.2	−0.026%	$380K	$1.4M	25x	as long as short
Reya PAXGRUSDPERPlong	+0.0189%	1h	4,339.3	long leg	$21K	—	100x
Kraken Futures PF_PAXGUSD	+0.0210%	1h	4,340.2	+0.021%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,342.3	+0.068%	$967K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0952%	1h	4,349.1	+0.226%	$29K	$23K	10x	as long as short