Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.027%

Price spread now: Variational Omni against Reya+0.020%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.020% dearer against Reya than usual: you sell high and buy low (spread +0.020% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PAXGRUSDPERP	4,309.5	0.0189	pay 0.0024% / 1h	50m 42s	$20K	—	100x
Short	Variational Omni PAXG	4,310.3	0.0100	get 0.0050% / 4h	3h 50m	$12.2M	$230K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.020%Rate

Funding earned: −$18.79
Price spread: +0.020% → 0.000%: $2.04
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$22.75
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 3 min ago	2.82 bp	doesn't fit	8.4 bp −$84	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	4,308.1	−0.031%	$1.4M	$608K	25x	as long as short
GRVT PAXG_USDT_Perp	−0.0190%	4h	4,306.8	−0.062%	$1.5M	$1.9M	10x	as long as short
Hibachi PAXG/USDT-P	−0.0160%	1h	4,306.4	−0.071%	$41K	$171K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0097%	1h	4,312.6	+0.072%	$1.2M	$1.7M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,310.3	+0.020%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,312	+0.059%	$15.6M	$3.8M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,306.9	−0.059%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,315	+0.129%	$7.9M	$599K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,311.4	+0.044%	$904K	$809K	75x	as long as short
Extended PAXG-USD	+0.0016%	1h	4,309.8	+0.008%	$377K	$1.6M	25x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PAXG_USDT	+0.0016%	4h	4,314.9	+0.126%	$16.6M	$1.1M	100x	as long as short
Binance PAXGUSDT	+0.0018%	4h	4,310.4	+0.022%	$80.2M	$79.6M	75x	as long as short
Aster PAXGUSDT	+0.0028%	4h	4,310.2	+0.017%	$900K	$32K	50x	as long as short
Bitget PAXGUSDT	+0.0030%	4h	4,310.6	+0.026%	$9.4M	$16.0M	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.878%	$1K	$151K	30x	as long as short
Paradex PAXG-USD-PERP	+0.0095%	8h	4,307.8	−0.038%	$85K	$4.1M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,310.7	+0.029%	$21.0M	$2.5M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,308.9	−0.012%	$1.0M	$304K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,310.7	+0.028%	$14.8M	$4.3M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,312.6	+0.074%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,310.8	+0.032%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,311	+0.035%	$1.2M	$857K	50x	as long as short
Variational Omni PAXGshort	+0.0100%	4h	4,310.3	+0.020%	$12.2M	$230K	—
ApeX Omni PAXGUSDT	+0.0100%	1h	4,306.4	−0.072%	$261K	$770K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,310	+0.013%	$553	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,308	−0.034%	$1.5M	$66K	50x	as long as short
Reya PAXGRUSDPERPlong	+0.0189%	1h	4,309.5	long leg	$20K	—	100x
Coinbase International PAXG-PERP-INTX	+0.0232%	1h	4,309.1	−0.008%	$937K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0808%	1h	4,318.4	+0.207%	$29K	$23K	10x	as long as short