Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0306%/8h= +33.5% APRpaid last 24h +0.014%

Price spread now: Paradex against Lighter+0.024%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$7as in the Price arb table

costs, in and out, $10k−$120.115% of the position

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.008%+$1 on $10k

Price spread, last 7 days−0.035%−$4 · spread now +0.024%, 7d avg −0.020%

Together, before fees−0.027%+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Paradex is 0.044% dearer against Lighter than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.020%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.008% in total (about 0.8% 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	Lighter PAXG	4,315.5	−0.0208	get 0.0026% / 1h	51m 38s	$1.4M	$479K	25x
Short	Paradex PAXG-USD-PERP	4,316.5	0.0098	get 0.0098% / 8h	51m 38s	$87K	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Lighter. 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 LighterbpFee ParadexbpOrdersPrice spread, now +0.024%Rate

Funding earned: $64.25
Price spread: +0.024% → −0.020%: $4.4
Slippage, 4 orders: −$7.54
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: $57.11
Costs to cover: 0.115%
Break-even: 0.8 days

Slippage from Lighter: live order book, 5 min ago; Paradex: live order book, 3 min ago.

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 Lighter live order book, 5 min ago	1.15 bp	1.8 bp −$2	5.0 bp −$50	21.7 bp −$2,168	doesn't fit
Sell Paradex live order book, 3 min ago	2.29 bp	4.3 bp −$4	97.7 bp −$977	doesn't fit	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
Lighter PAXGlong	−0.0208%	1h	4,315.5	long leg	$1.4M	$479K	25x
GRVT PAXG_USDT_Perp	−0.0102%	4h	4,319.1	+0.084%	$1.5M	$2.0M	10x	as long as short
ApeX Omni PAXGUSDT	−0.0084%	1h	4,313.6	−0.043%	$261K	$774K	50x	as long as short
Hibachi PAXG/USDT-P	−0.0064%	1h	4,318.7	+0.076%	$42K	$165K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,316.8	+0.030%	$1.2M	$1.9M	20x	as long as short
Binance PAXGUSDT	−0.0001%	4h	4,317.3	+0.044%	$79.6M	$74.5M	75x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,317.9	+0.056%	$101K	$12K	5x	as long as short
Extended PAXG-USD	0.0000%	1h	4,316.3	+0.019%	$377K	$1.3M	25x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,319.1	+0.085%	$15.6M	$3.6M	100x	as long as short
MEXC PAXG_USDT	0.0000%	4h	4,322.8	+0.170%	$16.6M	$1.0M	100x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PAXG-USDT	0.0000%	4h	4,312.9	−0.058%	$1K	$3.3M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,320.4	+0.114%	$7.9M	$686K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,320.6	+0.120%	$903K	$779K	75x	as long as short
Aster PAXGUSDT	+0.0012%	4h	4,318.1	+0.061%	$901K	$27K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.738%	$1K	$151K	30x	as long as short
Bitget PAXGUSDT	+0.0084%	4h	4,316.9	+0.032%	$9.4M	$16.1M	50x	as long as short
Paradex PAXG-USD-PERPshort	+0.0098%	8h	4,316.5	+0.024%	$87K	$3.3M	50x
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,316.7	+0.029%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,317.1	+0.038%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,319.3	+0.090%	$1.0M	$306K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,317.6	+0.050%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,319.3	+0.088%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,318	+0.060%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,317.1	+0.038%	$1.3M	$821K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,318.9	+0.079%	$12.3M	$223K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,316	+0.013%	$1.5M	$52K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,315.6	+0.004%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,322.2	+0.156%	$949K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0832%	1h	4,328	+0.291%	$29K	$23K	10x	as long as short