Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0201%/8h= −22.1% APRpaid last 24h −0.017%

Price spread now: Injective against Aster+0.073%67s7-day average +0.083% · you sell dearer than you buy

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now +0.073%, 7d avg +0.083%

Together, before fees+0.008%+ Points / potential airdropAster: Stage 5 · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.083%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.041% in total (about -2.1% 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	Aster PAXGUSDT	4,333.8	0.0100	pay 0.0050% / 4h	2h 06m	$905K	$75K	50x
Short	Injective PAXG/USDC PERP	4,337	−0.0101	pay 0.0013% / 1h	6m 17s	$1K	$121K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now +0.073%Rate

Funding earned: −$42.29
Price spread: +0.073% → +0.083%: −$0.98
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$51.29
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 17 min ago; Injective: 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 Aster live order book, 17 min ago	0.61 bp	4.6 bp −$5	17.1 bp −$171	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Injective PAXG/USDC PERPshort	−0.0101%	1h	4,337	+0.073%	$1K	$121K	30x
Hibachi PAXG/USDT-P	−0.0064%	1h	4,333.7	−0.003%	$41K	$150K	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,336.4	+0.059%	$101K	$18K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,336.1	+0.053%	$15.7M	$4.3M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,329.4	−0.101%	$2K	$4.1M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,337.5	+0.086%	$7.9M	$865K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,339	+0.120%	$907K	$661K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,332.4	−0.034%	$1.4M	$521K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,333.3	−0.012%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,333.9	+0.002%	$20.2M	$1.9M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PAXGUSDTlong	+0.0100%	4h	4,333.8	long leg	$905K	$75K	50x
Pacifica PAXG	+0.0100%	1h	4,334.5	+0.016%	$1.0M	$371K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,333.5	−0.006%	$79.8M	$70.7M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,334.7	+0.019%	$15.1M	$3.9M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,334.8	+0.023%	$15.9M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,336.1	+0.052%	$26.7M	$5.5M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,333.6	−0.005%	$9.2M	$14.3M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,334.2	+0.009%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,335.1	+0.031%	$1.4M	$1.3M	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,334.7	+0.020%	$12.4M	$114K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,334	+0.004%	$1.5M	$2.0M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,332.5	−0.030%	$262K	$798K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,334.1	+0.007%	$556	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,331	−0.065%	$1.5M	$40K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,333	−0.020%	$377K	$1.2M	25x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,333.8	0.000%	$20K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0224%	1h	4,334.2	+0.008%	$1.3M	$1.6M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,337.8	+0.092%	$1.0M	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1448%	1h	4,353.3	+0.450%	$29K	$21K	10x	as long as short