Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0196%/8h= +21.5% APRpaid last 24h +0.053%

Price spread now: Coinbase International against Orderly+0.093%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.093% dearer against Orderly than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PAXG_USDC_mythos	4,358.5	0.0100	pay 0.0050% / 4h	46m 15s	$559	—	10x
Short	Coinbase International PAXG-PERP-INTX	4,362.5	0.0296	get 0.0037% / 1h	46m 15s	$976K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.093%Rate

Funding earned: $41.16
Price spread: +0.093% → 0.000%: $9.27
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $34.43
Costs to cover: 0.160%
Break-even: 1.1 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 2 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 2 min ago	1.24 bp	6.2 bp −$6	12.3 bp −$123	174.0 bp −$17.4K	doesn't fit

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
Injective PAXG/USDC PERP	−0.0007%	1h	4,347.3	−0.257%	$1K	$151K	30x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,358.3	−0.004%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,360.4	+0.044%	$15.8M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,353.5	−0.115%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,361.6	+0.072%	$7.9M	$866K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,360.9	+0.055%	$911K	$634K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,357	−0.034%	$1.4M	$270K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,357.3	−0.029%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,358.2	−0.007%	$20.4M	$1.8M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,358.4	−0.002%	$909K	$30K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PAXG	+0.0100%	1h	4,359.5	+0.023%	$1.0M	$344K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,358	−0.012%	$80.0M	$68.4M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,359.3	+0.018%	$15.2M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,356.4	−0.048%	$16.1M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,360.4	+0.043%	$27.0M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,358.2	−0.006%	$9.9M	$13.9M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,359.1	+0.013%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,360.1	+0.037%	$1.4M	$955K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,358.7	+0.005%	$12.5M	$104K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,359.6	+0.024%	$1.6M	$1.9M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,358.3	−0.004%	$264K	$796K	50x	as long as short
Orderly PERP_PAXG_USDC_mythoslong	+0.0100%	4h	4,358.5	long leg	$559	—	10x
Phemex PAXGUSDT	+0.0100%	4h	4,359	+0.011%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,357.1	−0.032%	$378K	$1.2M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0152%	1h	4,360.3	+0.041%	$48K	$139K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,357.8	−0.017%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0286%	1h	4,359.2	+0.017%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0296%	1h	4,362.5	+0.093%	$976K	$1.1M	50x
01 Exchange PAXGUSD	+0.1008%	1h	4,368.5	+0.229%	$29K	$23K	10x	as long as short