Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0211%/8h= +23.1% APRpaid last 24h +0.048%

Price spread now: Paradex against Hibachi−0.030%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on Hibachi Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.060%−$6 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.030%, 7d avg −0.021%

Together, before fees−0.014%+ Points / potential airdropHibachi: Active · Paradex: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.060%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.060% in total (about -5.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi PAXG/USDT-P	4,321.4	−0.0112	get 0.0014% / 1h	32m 53s	$41K	$168K	20x
Short	Paradex PAXG-USD-PERP	4,320.1	0.0099	get 0.0099% / 8h	32m 53s	$85K	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Hibachi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HibachibpFee ParadexbpOrdersPrice spread, now −0.030%Rate

Funding earned: $44.21
Price spread: −0.030% → −0.021%: −$0.95
Slippage, 4 orders: −$24.12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: $6.14
Costs to cover: 0.371%
Break-even: 6.0 days

Slippage from Hibachi: live order book, 6 min ago; Paradex: live order book, 1 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 Hibachi live order book, 6 min ago	0.22 bp	14.6 bp −$15	49.9 bp −$499	doesn't fit	doesn't fit
Sell Paradex live order book, 1 min ago	2.29 bp	4.3 bp −$4	97.1 bp −$971	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
Lighter PAXG	−0.0176%	1h	4,317.4	−0.093%	$1.4M	$486K	25x	as long as short
Hibachi PAXG/USDT-Plong	−0.0112%	1h	4,321.4	long leg	$41K	$168K	20x
GRVT PAXG_USDT_Perp	−0.0102%	4h	4,321.3	−0.001%	$1.5M	$2.0M	10x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,320.4	−0.024%	$1.2M	$1.8M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,321.4	+0.001%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,321.3	−0.002%	$15.6M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,317.2	−0.097%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,324.8	+0.080%	$7.9M	$659K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,325.2	+0.089%	$903K	$783K	75x	as long as short
MEXC PAXG_USDT	+0.0014%	4h	4,323.4	+0.047%	$16.6M	$1.0M	100x	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	+0.0016%	1h	4,317.7	−0.085%	$376K	$1.6M	25x	as long as short
Binance PAXGUSDT	+0.0016%	4h	4,318.6	−0.066%	$79.6M	$74.1M	75x	as long as short
Aster PAXGUSDT	+0.0024%	4h	4,320.8	−0.013%	$901K	$29K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.599%	$1K	$151K	30x	as long as short
ApeX Omni PAXGUSDT	+0.0052%	1h	4,320.2	−0.027%	$262K	$773K	50x	as long as short
Bitget PAXGUSDT	+0.0076%	4h	4,318.8	−0.059%	$9.4M	$15.8M	50x	as long as short
Paradex PAXG-USD-PERPshort	+0.0099%	8h	4,320.1	−0.030%	$85K	$3.5M	50x
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,320.4	−0.023%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,319.6	−0.042%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,322.6	+0.029%	$1.0M	$303K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,321	−0.009%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,321.3	−0.002%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,320.5	−0.021%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,319.8	−0.038%	$1.3M	$822K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,320.3	−0.025%	$12.3M	$218K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,317	−0.102%	$1.5M	$52K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,319.9	−0.035%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,325.9	+0.105%	$950K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0920%	1h	4,331.6	+0.236%	$29K	$23K	10x	as long as short