Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.024%

Price spread now: Orderly against Injective−0.828%7-day average — · you buy dearer than you sell

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

Long on Injective 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 0.828% cheaper against Injective than usual: you would sell low and buy high (spread −0.828% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$83 on $10k: about 41 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PAXG/USDC PERP	4,347.3	0.0033	pay 0.0004% / 1h	16m 42s	$1K	$151K	30x
Short	Orderly PERP_PAXG_USDC_mythos	4,311.3	0.0100	get 0.0050% / 4h	16m 42s	$553	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now −0.828%Rate

Funding earned: $14
Price spread: −0.828% → 0.000%: −$82.81
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$74.83
Costs to cover: 0.060%
Break-even: 44.4 days

Slippage unknown: Injective: no order-book sample; 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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective and 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
Lighter PAXG	−0.0192%	1h	4,309.3	−0.875%	$1.4M	$496K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0144%	1h	4,312.7	−0.796%	$42K	$170K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0110%	4h	4,313.2	−0.785%	$1.5M	$2.0M	10x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,311.6	−0.820%	$1.2M	$1.7M	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,313.4	−0.781%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,313	−0.789%	$15.6M	$3.7M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,308.3	−0.897%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,316.2	−0.715%	$7.9M	$659K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,315.7	−0.726%	$902K	$794K	75x	as long as short
MEXC PAXG_USDT	+0.0022%	4h	4,318.5	−0.662%	$16.6M	$1.1M	100x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PAXGUSDT	+0.0023%	4h	4,311.4	−0.826%	$79.6M	$75.8M	75x	as long as short
Extended PAXG-USD	+0.0024%	1h	4,310	−0.858%	$376K	$1.5M	25x	as long as short
Aster PAXGUSDT	+0.0028%	4h	4,311.6	−0.822%	$899K	$30K	50x	as long as short
Injective PAXG/USDC PERPlong	+0.0033%	1h	4,347.3	long leg	$1K	$151K	30x
ApeX Omni PAXGUSDT	+0.0041%	1h	4,312.8	−0.795%	$261K	$774K	50x	as long as short
Bitget PAXGUSDT	+0.0056%	4h	4,311.1	−0.833%	$9.5M	$15.9M	50x	as long as short
Paradex PAXG-USD-PERP	+0.0097%	8h	4,311.2	−0.831%	$85K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,311.2	−0.830%	$20.7M	$2.3M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,313	−0.789%	$1.0M	$302K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,311.4	−0.825%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,313	−0.789%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,312.3	−0.805%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,311.6	−0.821%	$1.3M	$839K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,312.7	−0.796%	$12.2M	$218K	—	as long as short
Orderly PERP_PAXG_USDC_mythosshort	+0.0100%	4h	4,311.3	−0.828%	$553	—	10x
Phemex PAXGUSDT	+0.0100%	4h	4,312	−0.812%	$1.5M	$53K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,310.8	−0.839%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,316.2	−0.716%	$953K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0936%	1h	4,322.2	−0.577%	$29K	$23K	10x	as long as short