Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0177%/8h= −19.4% APRpaid last 24h −0.027%

Price spread now: Aster against Reya+0.040%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.040% dearer against Reya than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PAXGRUSDPERP	4,315.6	0.0189	pay 0.0024% / 1h	52m 09s	$20K	—	100x
Short	Aster PAXGUSDT	4,317.3	0.0012	get 0.0006% / 4h	52m 09s	$901K	$27K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$37.17
Price spread: +0.040% → 0.000%: $3.95
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$47.22
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Aster: live order book, 51 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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 51 min ago	0.12 bp	4.2 bp −$4	6.8 bp −$68	doesn't fit	doesn't fit

Reya: 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	−0.0208%	1h	4,314.4	−0.028%	$1.4M	$479K	25x	as long as short
GRVT PAXG_USDT_Perp	−0.0102%	4h	4,319.1	+0.080%	$1.5M	$2.0M	10x	as long as short
Hibachi PAXG/USDT-P	−0.0064%	1h	4,318.7	+0.072%	$42K	$165K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,316.8	+0.026%	$1.2M	$1.9M	20x	as long as short
ApeX Omni PAXGUSDT	−0.0018%	1h	4,318.5	+0.067%	$261K	$773K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,317.9	+0.052%	$101K	$12K	5x	as long as short
Extended PAXG-USD	0.0000%	1h	4,315.1	−0.012%	$376K	$1.3M	25x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,318.3	+0.062%	$15.6M	$3.6M	100x	as long as short
MEXC PAXG_USDT	0.0000%	4h	4,322.6	+0.162%	$16.6M	$1.0M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,312.9	−0.062%	$1K	$3.3M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,320.4	+0.110%	$7.9M	$686K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,320.6	+0.116%	$903K	$779K	75x	as long as short
Binance PAXGUSDT	0.0000%	4h	4,316.8	+0.026%	$79.6M	$74.5M	75x	as long as short
Aster PAXGUSDTshort	+0.0012%	4h	4,317.3	+0.040%	$901K	$27K	50x
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.734%	$1K	$151K	30x	as long as short
Bitget PAXGUSDT	+0.0084%	4h	4,316	+0.009%	$9.4M	$16.3M	50x	as long as short
Paradex PAXG-USD-PERP	+0.0098%	8h	4,315.5	−0.004%	$85K	$3.3M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,316.7	+0.025%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,316.1	+0.011%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,318.2	+0.060%	$1.0M	$306K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,316.5	+0.021%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,318.2	+0.059%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,317.5	+0.044%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,317.1	+0.034%	$1.3M	$821K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,318.9	+0.075%	$12.3M	$223K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,316	+0.009%	$1.5M	$52K	50x	as long as short
Reya PAXGRUSDPERPlong	+0.0189%	1h	4,315.6	long leg	$20K	—	100x
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,322.2	+0.152%	$949K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0824%	1h	4,326.8	+0.259%	$29K	$23K	10x	as long as short