Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0288%/8h= +31.6% APRpaid last 24h +0.014%

Price spread now: Paradex against Lighter+0.083%7-day average −0.020% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$1as in the Price arb table

costs, in and out, $10k−$110.115% of the position

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.008%+$1 on $10k

Price spread, last 7 days−0.094%−$9 · spread now +0.083%, 7d avg −0.020%

Together, before fees−0.086%+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Paradex is 0.103% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.020%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.008% in total (about 0.8% 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	Lighter PAXG	4,307	−0.0192	get 0.0024% / 1h	9m 11s	$1.4M	$505K	25x
Short	Paradex PAXG-USD-PERP	4,310.6	0.0096	get 0.0096% / 8h	9m 11s	$85K	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Lighter. 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 LighterbpFee ParadexbpOrdersPrice spread, now +0.083%Rate

Funding earned: $60.52
Price spread: +0.083% → −0.020%: $10.32
Slippage, 4 orders: −$7.48
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: $59.36
Costs to cover: 0.115%
Break-even: 0.1 days

Slippage from Lighter: live order book, 2 min ago; Paradex: live order book, 5 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 Lighter live order book, 2 min ago	0.73 bp	2.0 bp −$2	4.3 bp −$43	21.5 bp −$2,155	doesn't fit
Sell Paradex live order book, 5 min ago	2.28 bp	4.3 bp −$4	98.5 bp −$985	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 PAXGlong	−0.0192%	1h	4,307	long leg	$1.4M	$505K	25x
Hibachi PAXG/USDT-P	−0.0160%	1h	4,313.1	+0.143%	$42K	$171K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0116%	4h	4,313.5	+0.151%	$1.5M	$2.0M	10x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,308.8	+0.042%	$1.2M	$1.7M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,313.4	+0.148%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,310.5	+0.081%	$15.5M	$3.8M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,305	−0.046%	$2K	$3.2M	20x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,314.2	+0.167%	$902K	$797K	75x	as long as short
Deribit PAXG_USDC-PERPETUAL	+0.0023%	1h	4,314.9	+0.183%	$7.9M	$594K	50x	as long as short
Extended PAXG-USD	+0.0024%	1h	4,307.9	+0.021%	$376K	$1.5M	25x	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	+0.0024%	4h	4,317.9	+0.253%	$16.7M	$1.1M	100x	as long as short
Binance PAXGUSDT	+0.0027%	4h	4,308.4	+0.032%	$79.7M	$76.7M	75x	as long as short
Aster PAXGUSDT	+0.0033%	4h	4,311.6	+0.107%	$899K	$30K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.936%	$1K	$151K	30x	as long as short
ApeX Omni PAXGUSDT	+0.0038%	1h	4,312.1	+0.118%	$261K	$774K	50x	as long as short
Bitget PAXGUSDT	+0.0046%	4h	4,308	+0.023%	$9.4M	$16.0M	50x	as long as short
Paradex PAXG-USD-PERPshort	+0.0096%	8h	4,310.6	+0.083%	$85K	$3.9M	50x
Hyperliquid PAXG	+0.0100%	1h	4,308.8	+0.042%	$20.7M	$2.3M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,312.4	+0.126%	$1.0M	$302K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,309.2	+0.051%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,310.3	+0.076%	$28.5M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,310	+0.070%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,309.3	+0.055%	$1.3M	$835K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,312.6	+0.131%	$12.2M	$218K	—	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,309.9	+0.068%	$553	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,311	+0.093%	$1.5M	$53K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,309.1	+0.048%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,318.8	+0.274%	$950K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0920%	1h	4,321.6	+0.339%	$29K	$23K	10x	as long as short