Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.024%

Price spread now: ApeX Omni against SunX+0.025%73s7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$800.799% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.174%+$17 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.025%, 7d avg +0.083%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.058% cheaper against SunX than usual: you would sell low and buy high (spread +0.025% now, against its 7-day average of +0.083%). If the spread goes back, that is −$6 on $10k: about 46 hours of funding at the current rate (+$3 a day). The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PAXG-USDT	4,305.3	0	get 0.0000% / 4h	3h 49m	$2K	$3.2M	20x
Short	ApeX Omni PAXGUSDT	4,306.4	0.0100	get 0.0013% / 1h	49m 58s	$261K	$770K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now +0.025%Rate

Funding earned: $21
Price spread: +0.025% → +0.083%: −$5.77
Slippage, 4 orders: −$61.9
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$64.68
Costs to cover: 0.799%
Break-even: 28.6 days

Slippage from SunX: live order book, 8 min ago; ApeX Omni: live order book, 49 min ago.

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 SunX live order book, 8 min ago	21.54 bp	38.3 bp −$38	67.6 bp −$676	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 49 min ago	2.72 bp	8.0 bp −$8	68.5 bp −$685	doesn't fit	doesn't fit

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	−0.0216%	1h	4,307.4	+0.049%	$1.4M	$608K	25x	as long as short
GRVT PAXG_USDT_Perp	−0.0190%	4h	4,306.8	+0.035%	$1.5M	$1.9M	10x	as long as short
Hibachi PAXG/USDT-P	−0.0160%	1h	4,309.5	+0.097%	$42K	$172K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0097%	1h	4,310.4	+0.118%	$1.2M	$1.7M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,310.3	+0.117%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,311.1	+0.135%	$15.6M	$3.8M	100x	as long as short
SunX PAXG-USDTlong	0.0000%	4h	4,305.3	long leg	$2K	$3.2M	20x
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,313.4	+0.189%	$7.9M	$599K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,312.1	+0.159%	$903K	$809K	75x	as long as short
Extended PAXG-USD	+0.0016%	1h	4,309.5	+0.097%	$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	4,315	+0.226%	$16.6M	$1.1M	100x	as long as short
Binance PAXGUSDT	+0.0018%	4h	4,310	+0.109%	$80.2M	$79.6M	75x	as long as short
Aster PAXGUSDT	+0.0028%	4h	4,309.1	+0.088%	$900K	$32K	50x	as long as short
Bitget PAXGUSDT	+0.0030%	4h	4,310.6	+0.124%	$9.4M	$16.0M	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.976%	$1K	$151K	30x	as long as short
Paradex PAXG-USD-PERP	+0.0095%	8h	4,309.6	+0.100%	$85K	$4.1M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,309.3	+0.093%	$21.0M	$2.5M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,311.1	+0.136%	$1.0M	$304K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,310	+0.109%	$14.8M	$4.3M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,311.2	+0.137%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,310.1	+0.112%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,309.3	+0.093%	$1.2M	$857K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,310.3	+0.117%	$12.2M	$230K	—	as long as short
ApeX Omni PAXGUSDTshort	+0.0100%	1h	4,306.4	+0.025%	$261K	$770K	50x
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,310	+0.109%	$553	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,306	+0.016%	$1.5M	$66K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,308.6	+0.077%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0232%	1h	4,309.1	+0.089%	$937K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0808%	1h	4,321	+0.365%	$29K	$23K	10x	as long as short