Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.027%

Price spread now: KuCoin against Reya+0.081%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 KuCoin

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. KuCoin is 0.081% dearer against Reya than usual: you sell high and buy low (spread +0.081% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PAXGRUSDPERP	4,316.3	0.0189	pay 0.0024% / 1h	54m 04s	$20K	—	100x
Short	KuCoin PAXGUSDTM	4,319.8	0.0100	get 0.0050% / 4h	1h 54m	$28.4M	$5.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$18.79
Price spread: +0.081% → 0.000%: $8.08
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$28.71
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	1.01 bp	8.2 bp −$8	13.7 bp −$137	doesn't fit	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	−0.0208%	1h	4,316.8	+0.011%	$1.4M	$427K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0168%	1h	4,320.5	+0.099%	$46K	$169K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0084%	4h	4,320.8	+0.104%	$1.5M	$2.0M	10x	as long as short
ApeX Omni PAXGUSDT	−0.0066%	1h	4,319.2	+0.069%	$261K	$771K	50x	as long as short
Kraken Futures PF_PAXGUSD	−0.0044%	1h	4,318.8	+0.058%	$1.2M	$1.9M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,321.6	+0.125%	$101K	$12K	5x	as long as short
Extended PAXG-USD	0.0000%	1h	4,316.6	+0.008%	$378K	$1.5M	25x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,319.9	+0.084%	$15.6M	$3.7M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,314.1	−0.050%	$2K	$3.4M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,322.6	+0.146%	$7.9M	$841K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PAXG-USDT	0.0000%	4h	4,324.7	+0.195%	$906K	$760K	75x	as long as short
Binance PAXGUSDT	+0.0001%	4h	4,317.8	+0.035%	$79.6M	$74.3M	75x	as long as short
MEXC PAXG_USDT	+0.0002%	4h	4,322.6	+0.148%	$16.5M	$1.0M	100x	as long as short
Aster PAXGUSDT	+0.0027%	4h	4,320	+0.087%	$901K	$27K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.719%	$1K	$151K	30x	as long as short
Paradex PAXG-USD-PERP	+0.0097%	8h	4,318.1	+0.043%	$85K	$3.2M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,316.5	+0.005%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,318.1	+0.043%	$20.7M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,319.7	+0.080%	$1.0M	$320K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,319.1	+0.066%	$14.9M	$4.1M	75x	as long as short
KuCoin PAXGUSDTMshort	+0.0100%	4h	4,319.8	+0.081%	$28.4M	$5.3M	30x
Bitget PAXGUSDT	+0.0100%	4h	4,318.2	+0.045%	$9.4M	$16.4M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,319	+0.063%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,318.7	+0.057%	$1.3M	$811K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,321.6	+0.124%	$12.3M	$221K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,316	−0.006%	$1.5M	$50K	50x	as long as short
Reya PAXGRUSDPERPlong	+0.0189%	1h	4,316.3	long leg	$20K	—	100x
Coinbase International PAXG-PERP-INTX	+0.0232%	1h	4,333.5	+0.398%	$978K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0808%	1h	4,328.3	+0.279%	$29K	$24K	10x	as long as short