Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.025%

Price spread now: Injective against KuCoin+0.663%70s7-day average +0.073% · you sell dearer than you buy

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

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 4 days (all we have)−0.618%−$62 · spread now +0.663%, 7d avg +0.073%

Together, before fees−0.726%−$73 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.590% dearer against KuCoin than usual: you sell high and buy low (spread +0.663% now, against its 7-day average of +0.073%): +$59 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 29 days. The two prices were read 70 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	KuCoin PAXGUSDTM	4,318.7	0.0100	pay 0.0050% / 4h	44m 12s	$28.8M	$6.0M	30x
Short	Injective PAXG/USDC PERP	4,347.3	0.0033	get 0.0004% / 1h	44m 12s	$1K	$151K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now +0.663%Rate

Funding earned: −$14
Price spread: +0.663% → +0.073%: $58.98
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $32.96
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	0.42 bp	8.6 bp −$9	27.1 bp −$271	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 exchanges

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	−0.0048%	1h	4,314.3	−0.102%	$1.4M	$496K	25x	as long as short
dYdX PAXG-USD	−0.0002%	1h	4,312.9	−0.133%	$116K	$16K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,318	−0.015%	$15.6M	$3.9M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,311.8	−0.160%	$2K	$2.5M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,319.3	+0.016%	$7.9M	$204K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,317.5	−0.026%	$909K	$832K	75x	as long as short
ApeX Omni PAXGUSDT	+0.0018%	1h	4,312.2	−0.149%	$261K	$796K	50x	as long as short
Injective PAXG/USDC PERPshort	+0.0033%	1h	4,347.3	+0.663%	$1K	$151K	30x
Paradex PAXG-USD-PERP	+0.0099%	8h	4,314	−0.107%	$80K	$4.1M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,315.8	−0.066%	$21.3M	$2.5M	10x	as long as short

Show all 29 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PAXGUSDT	+0.0100%	4h	4,316.6	−0.048%	$902K	$46K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,316.7	−0.045%	$1.0M	$330K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,316	−0.061%	$80.2M	$80.3M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,316.4	−0.053%	$14.8M	$4.8M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,321.2	+0.058%	$16.5M	$1.2M	100x	as long as short
KuCoin PAXGUSDTMlong	+0.0100%	4h	4,318.7	long leg	$28.8M	$6.0M	30x
Bitget PAXGUSDT	+0.0100%	4h	4,316.2	−0.057%	$9.2M	$16.9M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,315.8	−0.066%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,315.5	−0.072%	$1.2M	$857K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,311.5	−0.167%	$12.2M	$278K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,312.8	−0.136%	$1.5M	$2.0M	10x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,315.9	−0.064%	$554	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,315	−0.085%	$1.5M	$82K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,314.5	−0.095%	$374K	$2.2M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0128%	1h	4,314.5	−0.097%	$45K	$178K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,314.8	−0.089%	$20K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0263%	1h	4,316.5	−0.050%	$1.2M	$2.1M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0280%	1h	4,331.7	+0.302%	$933K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0960%	1h	4,326.2	+0.175%	$29K	$24K	10x	as long as short