Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0169%/8h= −18.6% APRpaid last 24h −0.027%

Price spread now: MEXC against Reya+0.155%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 MEXC

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. MEXC is 0.155% dearer against Reya than usual: you sell high and buy low (spread +0.155% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PAXGRUSDPERP	4,312	0.0189	pay 0.0024% / 1h	18m 13s	$20K	—	100x
Short	MEXC PAXG_USDT	4,318.7	0.0020	get 0.0010% / 4h	18m 13s	$16.6M	$1.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.155%Rate

Funding earned: −$35.59
Price spread: +0.155% → 0.000%: $15.53
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$30.06
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; MEXC: live order book, just now. 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 MEXC live order book, just now	0.69 bp	2.7 bp −$3	15.6 bp −$156	48.5 bp −$4,850	134.0 bp −$67.0K

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	4,310.5	−0.035%	$1.4M	$495K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0144%	1h	4,313.3	+0.031%	$42K	$170K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0108%	4h	4,313.2	+0.029%	$1.5M	$2.0M	10x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,313.3	+0.031%	$1.2M	$1.7M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,313.4	+0.032%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,314.4	+0.057%	$15.6M	$3.7M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,309.5	−0.056%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,317.4	+0.126%	$7.9M	$659K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,315.7	+0.086%	$902K	$794K	75x	as long as short
MEXC PAXG_USDTshort	+0.0020%	4h	4,318.7	+0.155%	$16.6M	$1.1M	100x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PAXGUSDT	+0.0021%	4h	4,312.8	+0.020%	$79.6M	$75.8M	75x	as long as short
Extended PAXG-USD	+0.0024%	1h	4,311.4	−0.014%	$376K	$1.5M	25x	as long as short
Aster PAXGUSDT	+0.0028%	4h	4,312.4	+0.011%	$899K	$30K	50x	as long as short
ApeX Omni PAXGUSDT	+0.0032%	1h	4,312.8	+0.018%	$261K	$773K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.820%	$1K	$151K	30x	as long as short
Bitget PAXGUSDT	+0.0060%	4h	4,312.5	+0.013%	$9.5M	$15.9M	50x	as long as short
Paradex PAXG-USD-PERP	+0.0097%	8h	4,311.8	−0.005%	$87K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,312.5	+0.012%	$20.7M	$2.3M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,314.2	+0.052%	$1.0M	$302K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,313.1	+0.027%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,314.6	+0.061%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,313.3	+0.030%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,313.1	+0.025%	$1.3M	$839K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,312.7	+0.017%	$12.2M	$218K	—	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,311.6	−0.008%	$553	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,312	+0.001%	$1.5M	$53K	50x	as long as short
Reya PAXGRUSDPERPlong	+0.0189%	1h	4,312	long leg	$20K	—	100x
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,316.2	+0.098%	$953K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0936%	1h	4,323.7	+0.272%	$29K	$23K	10x	as long as short