Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0182%/8h= −19.9% APRpaid last 24h −0.053%

Price spread now: Aster against Coinbase International−0.127%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.317%−$32 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now −0.127%, 7d avg −0.079%

Together, before fees−0.312%+ Points / potential airdropAster: Stage 5 · farm board−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Aster is 0.047% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.079%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PAXG-PERP-INTX	4,328.9	0.0248	pay 0.0031% / 1h	27m 58s	$952K	$1.1M	50x
Short	Aster PAXGUSDT	4,323.4	0.0066	get 0.0033% / 4h	2h 27m	$902K	$26K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$38.26
Price spread: −0.127% → −0.079%: −$4.73
Slippage, 4 orders: −$4.34
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$65.33
Costs to cover: 0.223%
Break-even: never at this rate

Slippage from Coinbase International: live order book, just now; Aster: live order book, 20 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 Coinbase International live order book, just now	1.98 bp	7.0 bp −$7	8.8 bp −$88	doesn't fit	doesn't fit
Sell Aster live order book, 20 min ago	0.05 bp	4.1 bp −$4	6.5 bp −$65	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
Hibachi PAXG/USDT-P	−0.0168%	1h	4,329	+0.004%	$40K	$165K	20x	as long as short
Lighter PAXG	−0.0144%	1h	4,322.1	−0.157%	$1.4M	$387K	25x	as long as short
Kraken Futures PF_PAXGUSD	−0.0102%	1h	4,324	−0.113%	$1.3M	$1.6M	20x	as long as short
ApeX Omni PAXGUSDT	−0.0033%	1h	4,325.9	−0.069%	$262K	$782K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,329.2	+0.008%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,324.9	−0.091%	$15.6M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,319.1	−0.225%	$2K	$3.5M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,326.7	−0.050%	$7.9M	$839K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,329.7	+0.019%	$902K	$713K	75x	as long as short
GRVT PAXG_USDT_Perp	+0.0004%	4h	4,329.8	+0.023%	$1.5M	$1.9M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PAXG-USD	+0.0032%	1h	4,322.1	−0.156%	$379K	$1.4M	25x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.426%	$1K	$151K	30x	as long as short
Binance PAXGUSDT	+0.0035%	4h	4,322.8	−0.141%	$79.6M	$72.7M	75x	as long as short
MEXC PAXG_USDT	+0.0036%	4h	4,325.8	−0.070%	$16.1M	$1.0M	100x	as long as short
Aster PAXGUSDTshort	+0.0066%	4h	4,323.4	−0.127%	$902K	$26K	50x
Hyperliquid PAXG	+0.0071%	1h	4,323.9	−0.115%	$20.7M	$2.4M	10x	as long as short
Paradex PAXG-USD-PERP	+0.0099%	8h	4,323.4	−0.127%	$81K	$3.3M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,322.9	−0.138%	$555	—	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,326.1	−0.064%	$1.0M	$349K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,324.3	−0.105%	$14.8M	$3.9M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,325.6	−0.075%	$28.5M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,323.3	−0.129%	$9.8M	$15.6M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,323.7	−0.120%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,324	−0.113%	$1.3M	$801K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,327.7	−0.027%	$12.3M	$222K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,323	−0.135%	$1.5M	$34K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,322.3	−0.152%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXlong	+0.0248%	1h	4,328.9	long leg	$952K	$1.1M	50x
01 Exchange PAXGUSD	+0.0800%	1h	4,334.5	+0.130%	$29K	$24K	10x	as long as short