Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h −0.054%

Price spread now: HTX against Reya+0.068%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 HTX

What this pair did over the last

the charts below follow

Funding, last 4 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. HTX is 0.068% dearer against Reya than usual: you sell high and buy low (spread +0.068% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PAXGRUSDPERP	4,313.6	0.0189	pay 0.0024% / 1h	13m 01s	$20K	—	100x
Short	HTX PAXG-USDT	4,316.6	0	get 0.0000% / 4h	13m 01s	$902K	$796K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$39.79
Price spread: +0.068% → 0.000%: $6.84
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$50.95
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; HTX: live order book, 26 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 HTX live order book, 26 min ago	1.02 bp	13.1 bp −$13	15.9 bp −$159	19.1 bp −$1,908	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
Lighter PAXG	−0.0192%	1h	4,312.1	−0.035%	$1.4M	$498K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0152%	1h	4,311.8	−0.043%	$42K	$171K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0114%	4h	4,310.8	−0.065%	$1.5M	$2.0M	10x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,315.1	+0.033%	$1.2M	$1.7M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,313.4	−0.007%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,315.2	+0.036%	$15.6M	$3.7M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,310.4	−0.076%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,318.8	+0.120%	$7.9M	$594K	50x	as long as short
HTX PAXG-USDTshort	0.0000%	4h	4,316.6	+0.068%	$902K	$796K	75x
MEXC PAXG_USDT	+0.0022%	4h	4,319.7	+0.141%	$16.7M	$1.1M	100x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PAXGUSDT	+0.0023%	4h	4,315.4	+0.042%	$79.8M	$76.0M	75x	as long as short
Extended PAXG-USD	+0.0024%	1h	4,313.2	−0.010%	$376K	$1.5M	25x	as long as short
Aster PAXGUSDT	+0.0028%	4h	4,313.8	+0.003%	$900K	$30K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.780%	$1K	$151K	30x	as long as short
ApeX Omni PAXGUSDT	+0.0034%	1h	4,309.1	−0.106%	$261K	$774K	50x	as long as short
Bitget PAXGUSDT	+0.0052%	4h	4,315.1	+0.033%	$9.5M	$16.0M	50x	as long as short
Paradex PAXG-USD-PERP	+0.0097%	8h	4,312	−0.038%	$85K	$3.8M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,314.4	+0.018%	$20.8M	$2.3M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,313.8	+0.004%	$1.0M	$302K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,315.7	+0.048%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,315.9	+0.052%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,314.5	+0.021%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,315.5	+0.042%	$1.3M	$834K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,310.3	−0.078%	$12.2M	$218K	—	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,313.5	−0.003%	$553	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,313	−0.015%	$1.5M	$53K	50x	as long as short
Reya PAXGRUSDPERPlong	+0.0189%	1h	4,313.6	long leg	$20K	—	100x
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,316.7	+0.071%	$951K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0920%	1h	4,324.1	+0.242%	$29K	$23K	10x	as long as short