Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0089%/8h= +9.8% APRpaid last 24h +0.027%

Price spread now: Reya against KuCoin−0.096%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.096% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.096% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PAXGUSDTM	4,331.3	0.0100	pay 0.0050% / 4h	2h 09m	$28.5M	$5.3M	30x
Short	Reya PAXGRUSDPERP	4,327.2	0.0189	get 0.0024% / 1h	9m 52s	$20K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against KuCoin. 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 KuCoinbpFee ReyabpOrdersPrice spread, now −0.096%Rate

Funding earned: $18.79
Price spread: −0.096% → 0.000%: −$9.58
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$8.79
Costs to cover: 0.180%
Break-even: 10.3 days

Slippage unknown: KuCoin: live order book, 4 min ago; Reya: 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 KuCoin live order book, 4 min ago	0.39 bp	8.9 bp −$9	24.7 bp −$247	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Hibachi PAXG/USDT-P	−0.0136%	1h	4,325.9	−0.124%	$42K	$165K	20x	as long as short
Lighter PAXG	−0.0128%	1h	4,327.3	−0.092%	$1.4M	$391K	25x	as long as short
Kraken Futures PF_PAXGUSD	−0.0101%	1h	4,330.3	−0.022%	$1.2M	$1.9M	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0060%	4h	4,320.5	−0.249%	$1.5M	$2.0M	10x	as long as short
ApeX Omni PAXGUSDT	−0.0014%	1h	4,320.4	−0.252%	$261K	$785K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,328.9	−0.056%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,330.6	−0.016%	$15.6M	$3.8M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,324.5	−0.158%	$2K	$3.4M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,333.2	+0.044%	$7.9M	$835K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,332.1	+0.018%	$903K	$742K	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PAXG_USDT	+0.0014%	4h	4,330.1	−0.029%	$16.4M	$1.1M	100x	as long as short
Binance PAXGUSDT	+0.0016%	4h	4,328.9	−0.056%	$79.8M	$74.2M	75x	as long as short
Extended PAXG-USD	+0.0016%	1h	4,327.9	−0.078%	$376K	$1.4M	25x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.369%	$1K	$151K	30x	as long as short
Aster PAXGUSDT	+0.0043%	4h	4,328.5	−0.065%	$903K	$27K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0097%	8h	4,327.8	−0.081%	$81K	$3.3M	50x	as long as short
Hyperliquid PAXG	+0.0099%	1h	4,329.4	−0.045%	$20.8M	$2.4M	10x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,327.3	−0.093%	$555	—	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,329.7	−0.036%	$1.0M	$348K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,329.5	−0.042%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTMlong	+0.0100%	4h	4,331.3	long leg	$28.5M	$5.3M	30x
Bitget PAXGUSDT	+0.0100%	4h	4,329.2	−0.049%	$9.4M	$16.1M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,328.9	−0.057%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,329.3	−0.047%	$1.3M	$810K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,325.9	−0.125%	$12.3M	$222K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,327	−0.100%	$1.5M	$45K	50x	as long as short
Reya PAXGRUSDPERPshort	+0.0189%	1h	4,327.2	−0.096%	$20K	—	100x
Coinbase International PAXG-PERP-INTX	+0.0248%	1h	4,325.6	−0.132%	$977K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0840%	1h	4,338.6	+0.168%	$29K	$24K	10x	as long as short