Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Phemex+0.021%50s7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$650.653% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now +0.021%, 7d avg +0.094%

Together, before fees+0.079%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.073% cheaper against Phemex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.094%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PAXGUSDT	4,322	0.0100	pay 0.0050% / 4h	33m 22s	$1.5M	$52K	50x
Short	KuCoin PAXGUSDTM	4,322.9	0.0100	get 0.0050% / 4h	33m 22s	$28.7M	$5.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → +0.094%: −$7.32
Slippage, 4 orders: −$41.33
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$72.65
Costs to cover: 0.653%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; KuCoin: live order book, 6 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 Phemex live order book, 4 min ago	5.79 bp	24.4 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	0.42 bp	6.8 bp −$7	13.7 bp −$137	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	−0.0168%	1h	4,318.8	−0.074%	$1.4M	$482K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0112%	1h	4,321.4	−0.014%	$41K	$168K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0102%	4h	4,321.3	−0.015%	$1.5M	$2.0M	10x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,320.4	−0.037%	$1.2M	$1.8M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,321.4	−0.013%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,322.8	+0.019%	$15.6M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,317.2	−0.111%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,324.8	+0.066%	$7.9M	$659K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,326.5	+0.105%	$904K	$784K	75x	as long as short
MEXC PAXG_USDT	+0.0014%	4h	4,326.3	+0.099%	$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	4,319.1	−0.067%	$376K	$1.6M	25x	as long as short
Binance PAXGUSDT	+0.0016%	4h	4,320.4	−0.038%	$79.7M	$74.1M	75x	as long as short
Aster PAXGUSDT	+0.0024%	4h	4,321.9	−0.003%	$901K	$29K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.585%	$1K	$151K	30x	as long as short
ApeX Omni PAXGUSDT	+0.0052%	1h	4,320.2	−0.041%	$262K	$773K	50x	as long as short
Bitget PAXGUSDT	+0.0076%	4h	4,320.1	−0.044%	$9.4M	$15.8M	50x	as long as short
Paradex PAXG-USD-PERP	+0.0099%	8h	4,320.1	−0.044%	$85K	$3.5M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,320.4	−0.037%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,321	−0.023%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,322.6	+0.015%	$1.0M	$303K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,321.4	−0.015%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTMshort	+0.0100%	4h	4,322.9	+0.021%	$28.7M	$5.3M	30x
BingX PAXG-USDT	+0.0100%	4h	4,321.8	−0.004%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,321.3	−0.016%	$1.3M	$822K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,320.3	−0.039%	$12.3M	$218K	—	as long as short
Phemex PAXGUSDTlong	+0.0100%	4h	4,322	long leg	$1.5M	$52K	50x
Reya PAXGRUSDPERP	+0.0189%	1h	4,319.9	−0.049%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,325.9	+0.091%	$950K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0920%	1h	4,331.6	+0.222%	$29K	$23K	10x	as long as short