Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.061%

Price spread now: Coinbase International against Bitget+0.033%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.303%+$30 on $10k

Price spread, last 3 days (all we have)+0.156%+$16 · spread now +0.033%, 7d avg +0.088%

Together, before fees+0.459%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.055% cheaper against Bitget than usual: you would sell low and buy high (spread +0.033% now, against its 7-day average of +0.088%). If the spread goes back, that is −$6 on $10k: about 20 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PAXGUSDT	4,338.3	0.0100	pay 0.0050% / 4h	2h 00m	$9.2M	$14.3M	50x
Short	Coinbase International PAXG-PERP-INTX	4,339.7	0.0320	get 0.0040% / 1h	0m 16s	$976K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now +0.033%Rate

Funding earned: $46.2
Price spread: +0.033% → +0.088%: −$5.54
Slippage, 4 orders: −$23.83
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$5.16
Costs to cover: 0.458%
Break-even: 7.8 days

Slippage from Bitget: live order book, 3 min ago; Coinbase International: live order book, 3 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 Bitget live order book, 3 min ago	0.01 bp	8.4 bp −$8	9.9 bp −$99	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	1.96 bp	18.3 bp −$18	27.6 bp −$276	205.7 bp −$20.6K	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
Injective PAXG/USDC PERP	−0.0101%	1h	4,337	−0.030%	$1K	$121K	30x	as long as short
Hibachi PAXG/USDT-P	−0.0072%	1h	4,335.5	−0.064%	$47K	$156K	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,336.4	−0.044%	$101K	$18K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,339	+0.017%	$15.7M	$4.3M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,333.9	−0.102%	$2K	$4.1M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,342	+0.085%	$7.9M	$865K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,341.9	+0.083%	$907K	$661K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,335.5	−0.064%	$1.4M	$521K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,336.4	−0.042%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,338.4	+0.003%	$20.3M	$2.0M	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	4,336.8	−0.034%	$906K	$75K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,337.3	−0.022%	$1.0M	$371K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,337.8	−0.011%	$79.9M	$70.6M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,339.3	+0.023%	$15.2M	$3.9M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,340	+0.039%	$15.9M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,339	+0.017%	$26.8M	$5.5M	30x	as long as short
Bitget PAXGUSDTlong	+0.0100%	4h	4,338.3	long leg	$9.2M	$14.3M	50x
BingX PAXG-USDT	+0.0100%	4h	4,338.4	+0.003%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,338.2	−0.002%	$1.4M	$1.3M	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,337.1	−0.028%	$12.4M	$114K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,334	−0.098%	$1.5M	$2.0M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,333.4	−0.112%	$262K	$799K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,338	−0.006%	$557	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,336	−0.053%	$1.5M	$40K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,337.4	−0.020%	$377K	$1.2M	25x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,338.5	+0.004%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0224%	1h	4,338.6	+0.007%	$1.3M	$1.5M	20x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0320%	1h	4,339.7	+0.033%	$976K	$1.1M	50x
01 Exchange PAXGUSD	+0.1456%	1h	4,353	+0.339%	$29K	$21K	10x	as long as short