Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h +0.003%

Price spread now: Kraken Futures against Variational Omni+0.042%7-day average +0.021% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.193%+$19 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.042%, 7d avg +0.021%

Together, before fees+0.204%+ Points / potential airdropVariational Omni: Active · farm board+$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.022% dearer against Variational Omni than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of +0.021%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4.7 days. Mind the row above: over the last 4 days funding on this pair paid +0.193%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PAXG	4,314.3	0.0100	pay 0.0050% / 4h	2h 20m	$12.2M	$298K	—
Short	Kraken Futures PF_PAXGUSD	4,316.1	0.0085	get 0.0011% / 1h	20m 46s	$1.2M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$3.2
Price spread: +0.042% → +0.021%: $2.16
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$11.04
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Kraken Futures: live order book, 1 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 Variational Omni RFQ quote, 1 min ago	2.83 bp	doesn't fit	7.4 bp −$74	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	0.46 bp	8.1 bp −$8	14.4 bp −$144	41.5 bp −$4,146	doesn't fit

PAXG on 29 exchanges

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
dYdX PAXG-USD	−0.0013%	1h	4,313.5	−0.018%	$115K	$15K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,317.1	+0.066%	$15.6M	$4.0M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,312.5	−0.040%	$2K	$2.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,319.2	+0.114%	$7.9M	$211K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,318.3	+0.094%	$909K	$807K	75x	as long as short
Lighter PAXG	+0.0032%	1h	4,313.8	−0.011%	$1.4M	$501K	25x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.766%	$1K	$151K	30x	as long as short
GRVT PAXG_USDT_Perp	+0.0064%	4h	4,314	−0.006%	$1.5M	$1.9M	10x	as long as short
Extended PAXG-USD	+0.0072%	1h	4,314	−0.005%	$374K	$1.5M	25x	as long as short
Bitget PAXGUSDT	+0.0072%	4h	4,315.1	+0.020%	$9.2M	$16.6M	50x	as long as short

Show all 29 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PAXG_USDT	+0.0074%	4h	4,320.3	+0.139%	$16.6M	$1.3M	100x	as long as short
Binance PAXGUSDT	+0.0077%	4h	4,315.5	+0.029%	$80.0M	$80.6M	75x	as long as short
Kraken Futures PF_PAXGUSDshort	+0.0085%	1h	4,316.1	+0.042%	$1.2M	$2.1M	20x
Aster PAXGUSDT	+0.0094%	4h	4,315.2	+0.023%	$903K	$41K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0098%	8h	4,313.6	−0.014%	$80K	$4.3M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,314.9	+0.015%	$21.2M	$2.5M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,316	+0.039%	$1.0M	$322K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,315.2	+0.022%	$14.9M	$4.7M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,317.9	+0.084%	$28.8M	$5.7M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,315.6	+0.031%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,315.3	+0.025%	$1.2M	$866K	50x	as long as short
Variational Omni PAXGlong	+0.0100%	4h	4,314.3	long leg	$12.2M	$298K	—
ApeX Omni PAXGUSDT	+0.0100%	1h	4,314.2	−0.001%	$261K	$801K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,315.6	+0.031%	$554	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,315	+0.017%	$1.5M	$81K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,314.4	+0.003%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0232%	1h	4,324.2	+0.229%	$932K	$1.0M	50x	as long as short
Hibachi PAXG/USDT-P	+0.0304%	1h	4,315.3	+0.023%	$43K	$181K	20x	as long as short
01 Exchange PAXGUSD	+0.1080%	1h	4,325.6	+0.263%	$29K	$24K	10x	as long as short