Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: ApeX Omni against Binance−0.055%69s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as 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−$270.271% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.055%, 7d avg −0.006%

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.049% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.006%. The two prices were read 69 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	Binance PAXGUSDT	4,348.2	0.0100	pay 0.0050% / 4h	1h 26m	$80.2M	$70.5M	75x
Short	ApeX Omni PAXGUSDT	4,345.8	0.0100	get 0.0013% / 1h	26m 16s	$263K	$790K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → −0.006%: −$4.87
Slippage, 4 orders: −$7.09
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$31.96
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from Binance: live order book, 1 min ago; ApeX Omni: live order book, 38 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 Binance live order book, 1 min ago	0.01 bp	6.0 bp −$6	7.0 bp −$70	11.1 bp −$1,115	doesn't fit
Sell ApeX Omni live order book, 38 min ago	2.78 bp	8.0 bp −$8	82.9 bp −$829	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
dYdX PAXG-USD	0.0000%	1h	4,344.4	−0.087%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,350.7	+0.059%	$15.6M	$3.5M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,345	−0.072%	$2K	$3.7M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,351.5	+0.077%	$7.9M	$868K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,349.6	+0.032%	$906K	$653K	75x	as long as short
Hibachi PAXG/USDT-P	+0.0016%	1h	4,347.3	−0.019%	$41K	$156K	20x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	−0.020%	$1K	$151K	30x	as long as short
GRVT PAXG_USDT_Perp	+0.0070%	4h	4,345.3	−0.065%	$1.5M	$1.9M	10x	as long as short
Lighter PAXG	+0.0096%	1h	4,347.8	−0.008%	$1.4M	$349K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,348.3	+0.003%	$80K	$3.7M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PAXG	+0.0100%	1h	4,348.8	+0.015%	$20.8M	$2.4M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,348.3	+0.004%	$907K	$30K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,349.1	+0.021%	$1.0M	$340K	10x	as long as short
Binance PAXGUSDTlong	+0.0100%	4h	4,348.2	long leg	$80.2M	$70.5M	75x
Bybit PAXGUSDT	+0.0100%	4h	4,349.4	+0.029%	$15.0M	$3.8M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,348.5	+0.007%	$16.2M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,351.7	+0.081%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,349.3	+0.027%	$9.6M	$14.9M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,348.1	0.000%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,348.4	+0.006%	$1.3M	$801K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,345.5	−0.062%	$12.5M	$99K	—	as long as short
ApeX Omni PAXGUSDTshort	+0.0100%	1h	4,345.8	−0.055%	$263K	$790K	50x
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,348.6	+0.010%	$558	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,347	−0.026%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,346.9	−0.028%	$382K	$1.4M	25x	as long as short
Kraken Futures PF_PAXGUSD	+0.0173%	1h	4,349.5	+0.030%	$1.3M	$1.4M	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,347.9	−0.005%	$21K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,349.7	+0.035%	$971K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0984%	1h	4,358.6	+0.240%	$29K	$23K	10x	as long as short