Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Orderly against Variational Omni+0.053%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Orderly

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 airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.053% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PAXG	4,348.3	0.0100	pay 0.0050% / 4h	3h 13m	$12.5M	$104K	—
Short	Orderly PERP_PAXG_USDC_mythos	4,350.6	0.0100	get 0.0050% / 4h	3h 13m	$558	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Variational Omni. 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 Variational OmnibpFee OrderlybpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → 0.000%: $5.34
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$0.66
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Orderly: no order-book sample. 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	7.8 bp −$78	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
dYdX PAXG-USD	0.0000%	1h	4,350.8	+0.058%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,353.1	+0.111%	$15.7M	$3.5M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,346.9	−0.032%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,354.5	+0.143%	$7.9M	$875K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,357.6	+0.213%	$905K	$647K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	−0.022%	$1K	$151K	30x	as long as short
GRVT PAXG_USDT_Perp	+0.0046%	4h	4,350.9	+0.060%	$1.5M	$2.0M	10x	as long as short
Lighter PAXG	+0.0096%	1h	4,350	+0.040%	$1.4M	$270K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,350.5	+0.052%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,351.6	+0.076%	$20.7M	$2.1M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PAXGUSDT	+0.0100%	4h	4,352.2	+0.089%	$908K	$29K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,352.6	+0.099%	$1.0M	$366K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,350.6	+0.054%	$80.3M	$71.0M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,352	+0.086%	$15.1M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,350.7	+0.057%	$16.2M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,353.3	+0.115%	$28.4M	$5.5M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,351.5	+0.074%	$9.6M	$15.1M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,351.9	+0.083%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,353.3	+0.115%	$1.4M	$844K	50x	as long as short
Variational Omni PAXGlong	+0.0100%	4h	4,348.3	long leg	$12.5M	$104K	—
ApeX Omni PAXGUSDT	+0.0100%	1h	4,349.8	+0.036%	$263K	$786K	50x	as long as short
Orderly PERP_PAXG_USDC_mythosshort	+0.0100%	4h	4,350.6	+0.053%	$558	—	10x
Phemex PAXGUSDT	+0.0100%	4h	4,353	+0.109%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,349.9	+0.037%	$382K	$1.4M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0152%	1h	4,349.7	+0.033%	$42K	$146K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,350.8	+0.059%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0208%	1h	4,351.9	+0.083%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0304%	1h	4,349.6	+0.030%	$972K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0984%	1h	4,361.9	+0.313%	$29K	$23K	10x	as long as short