Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.004%

Price spread now: Kraken Futures against Variational Omni−0.021%7-day average +0.021% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.201%+$20 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.021%, 7d avg +0.021%

Together, before fees+0.302%+ Points / potential airdropVariational Omni: Active · farm board+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.042% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.021%). If the spread goes back, that is −$4 on $10k: about 46 hours of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.201% in total) that is about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PAXG	4,339.2	0.0100	pay 0.0050% / 4h	1h 04m	$12.4M	$99K	—
Short	Kraken Futures PF_PAXGUSD	4,338.3	0.0173	get 0.0022% / 1h	4m 03s	$1.3M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.021%Rate

Funding earned: $15.41
Price spread: −0.021% → +0.021%: −$4.22
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $1.2
Costs to cover: 0.100%
Break-even: 6.5 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Kraken Futures: live order book, 4 min ago. 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 Variational Omni RFQ quote, 5 min ago	2.82 bp	doesn't fit	8.0 bp −$80	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	0.69 bp	8.0 bp −$8	12.3 bp −$123	40.3 bp −$4,029	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
Hibachi PAXG/USDT-P	−0.0088%	1h	4,339	−0.005%	$41K	$158K	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,341.3	+0.048%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,340.1	+0.021%	$15.6M	$3.5M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,333.4	−0.134%	$2K	$3.7M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,340.9	+0.039%	$7.9M	$868K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,345.1	+0.135%	$905K	$668K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.187%	$1K	$151K	30x	as long as short
GRVT PAXG_USDT_Perp	+0.0084%	4h	4,343	+0.087%	$1.5M	$1.9M	10x	as long as short
Lighter PAXG	+0.0096%	1h	4,336.7	−0.059%	$1.4M	$351K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,338.1	−0.026%	$80K	$3.7M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PAXG	+0.0100%	1h	4,338.6	−0.014%	$20.7M	$2.3M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,339.6	+0.009%	$905K	$30K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,340.2	+0.023%	$1.0M	$339K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,337.6	−0.037%	$80.0M	$70.6M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,338.9	−0.007%	$14.9M	$3.8M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,340.5	+0.031%	$16.1M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,340.6	+0.033%	$28.5M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,339.2	+0.001%	$9.6M	$14.9M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,339.4	+0.004%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,338.2	−0.024%	$1.3M	$801K	50x	as long as short
Variational Omni PAXGlong	+0.0100%	4h	4,339.2	long leg	$12.4M	$99K	—
ApeX Omni PAXGUSDT	+0.0100%	1h	4,342	+0.065%	$263K	$789K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,337.6	−0.037%	$557	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,336	−0.074%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,336.5	−0.061%	$380K	$1.4M	25x	as long as short
Kraken Futures PF_PAXGUSDshort	+0.0173%	1h	4,338.3	−0.021%	$1.3M	$1.4M	20x
Reya PAXGRUSDPERP	+0.0189%	1h	4,337.8	−0.033%	$21K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,353	+0.318%	$972K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1008%	1h	4,349.1	+0.228%	$29K	$23K	10x	as long as short