Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.038%

Price spread now: Orderly against dYdX−0.021%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.021% cheaper against dYdX than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 17 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PAXG-USD	4,358.3	0	get 0.0000% / 1h	39m 50s	$102K	$12K	5x
Short	Orderly PERP_PAXG_USDC_mythos	4,357.4	0.0100	get 0.0050% / 4h	39m 50s	$559	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against dYdX. 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 dYdXbpFee OrderlybpOrdersPrice spread, now −0.021%Rate

Funding earned: $21
Price spread: −0.021% → 0.000%: −$2.11
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $2.89
Costs to cover: 0.160%
Break-even: 6.0 days

Slippage unknown: dYdX: live order book, 39 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 dYdX live order book, 39 min ago	14.96 bp	20.0 bp −$20	174.0 bp −$1,740	356.2 bp −$35.6K	1164.5 bp −$582.3K
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
Injective PAXG/USDC PERP	−0.0007%	1h	4,347.3	−0.253%	$1K	$151K	30x	as long as short
dYdX PAXG-USDlong	0.0000%	1h	4,358.3	long leg	$102K	$12K	5x
Gate PAXG_USDT	0.0000%	8h	4,358.8	+0.011%	$15.8M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,353.4	−0.113%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,360.2	+0.042%	$7.9M	$866K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,363	+0.108%	$911K	$637K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,355.6	−0.062%	$1.4M	$270K	25x	as long as short
ApeX Omni PAXGUSDT	+0.0097%	1h	4,354.4	−0.091%	$263K	$796K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,357.7	−0.015%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,356.7	−0.037%	$20.4M	$1.8M	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	4,357.2	−0.027%	$909K	$30K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,359.2	+0.020%	$1.0M	$344K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,356.6	−0.039%	$79.9M	$68.6M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,357.1	−0.029%	$15.2M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,356	−0.053%	$16.1M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,358.9	+0.014%	$27.0M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,357.4	−0.021%	$9.9M	$14.0M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,356.9	−0.032%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,357.8	−0.012%	$1.4M	$971K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,357.4	−0.021%	$12.5M	$104K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,359.7	+0.032%	$1.5M	$1.9M	10x	as long as short
Orderly PERP_PAXG_USDC_mythosshort	+0.0100%	4h	4,357.4	−0.021%	$559	—	10x
Phemex PAXGUSDT	+0.0100%	4h	4,354	−0.099%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,355.6	−0.063%	$378K	$1.2M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0160%	1h	4,359	+0.017%	$48K	$141K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,357.4	−0.020%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0286%	1h	4,358.1	−0.006%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0296%	1h	4,361.4	+0.072%	$976K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0992%	1h	4,369.1	+0.247%	$29K	$23K	10x	as long as short