Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.028%

Price spread now: Orderly against Gate−0.044%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.044% cheaper against Gate than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 35 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PAXG_USDT	4,345.2	0	get 0.0000% / 8h	4h 20m	$15.6M	$3.4M	100x
Short	Orderly PERP_PAXG_USDC_mythos	4,343.3	0.0100	get 0.0050% / 4h	20m 31s	$557	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Gate. 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 GatebpFee OrderlybpOrdersPrice spread, now −0.044%Rate

Funding earned: $21
Price spread: −0.044% → 0.000%: −$4.37
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$4.38
Costs to cover: 0.210%
Break-even: 8.5 days

Slippage unknown: Gate: live order book, 3 min ago; Orderly: 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 Gate live order book, 3 min ago	0.46 bp	8.3 bp −$8	11.6 bp −$116	25.7 bp −$2,575	59.4 bp −$29.7K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	4,343.4	−0.041%	$42K	$155K	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,345.5	+0.006%	$101K	$12K	5x	as long as short
Gate PAXG_USDTlong	0.0000%	8h	4,345.2	long leg	$15.6M	$3.4M	100x
SunX PAXG-USDT	0.0000%	4h	4,339.5	−0.132%	$2K	$3.6M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,345.9	+0.016%	$7.9M	$868K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,346	+0.017%	$906K	$679K	75x	as long as short
Lighter PAXG	+0.0016%	1h	4,341.6	−0.084%	$1.4M	$357K	25x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.048%	$1K	$151K	30x	as long as short
GRVT PAXG_USDT_Perp	+0.0084%	4h	4,343.8	−0.033%	$1.5M	$1.9M	10x	as long as short
Orderly PERP_PAXG_USDC_mythosshort	+0.0100%	4h	4,343.3	−0.044%	$557	—	10x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PAXG-USD-PERP	+0.0100%	8h	4,343.8	−0.033%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,343.4	−0.041%	$20.8M	$2.4M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,343.7	−0.035%	$906K	$30K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,344.5	−0.015%	$1.0M	$339K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,343.2	−0.046%	$80.2M	$70.7M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,343.4	−0.043%	$14.9M	$3.8M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,344.7	−0.012%	$16.2M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,345.8	+0.014%	$28.6M	$5.4M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,343.9	−0.030%	$9.7M	$14.9M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,344.1	−0.026%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,343.1	−0.048%	$1.3M	$804K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,343	−0.050%	$12.5M	$97K	—	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,343.8	−0.033%	$263K	$787K	50x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,340	−0.120%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,342.1	−0.072%	$379K	$1.5M	25x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,342.9	−0.054%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0210%	1h	4,343.4	−0.042%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,348.9	+0.085%	$968K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0848%	1h	4,354.2	+0.207%	$29K	$23K	10x	as long as short