Funding arb · Price arb /

PAXG

all PAXG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.027%

Price spread now: Bybit against Reya+0.029%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 Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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 · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.029% dearer against Reya than usual: you sell high and buy low (spread +0.029% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PAXGRUSDPERP	4,355.6	0.0189	pay 0.0024% / 1h	45m 16s	$21K	—	100x
Short	Bybit PAXGUSDT	4,356.9	0.0100	get 0.0050% / 4h	45m 16s	$15.2M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$18.79
Price spread: +0.029% → 0.000%: $2.92
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$32.86
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.12 bp	7.3 bp −$7	10.3 bp −$103	26.6 bp −$2,659	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
Injective PAXG/USDC PERP	−0.0007%	1h	4,347.3	−0.191%	$1K	$151K	30x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,358.3	+0.062%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,358.2	+0.059%	$15.8M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,351.5	−0.094%	$2K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,359.2	+0.083%	$7.9M	$866K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,359.4	+0.085%	$911K	$634K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,355.7	+0.002%	$1.4M	$270K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,356.3	+0.015%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,356.7	+0.025%	$20.4M	$1.8M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,357	+0.032%	$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	4,358.9	+0.075%	$1.0M	$344K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,355.3	−0.008%	$80.0M	$68.4M	75x	as long as short
Bybit PAXGUSDTshort	+0.0100%	4h	4,356.9	+0.029%	$15.2M	$3.6M	75x
MEXC PAXG_USDT	+0.0100%	4h	4,355.1	−0.012%	$16.1M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,359	+0.077%	$27.0M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,355.4	−0.006%	$9.9M	$13.9M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,357.7	+0.047%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,359	+0.078%	$1.4M	$955K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,357.9	+0.052%	$12.5M	$104K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,359.6	+0.090%	$1.6M	$1.9M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,358.2	+0.058%	$264K	$795K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,357.3	+0.038%	$559	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,356	+0.009%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,354.4	−0.027%	$378K	$1.2M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0144%	1h	4,358.7	+0.071%	$48K	$141K	20x	as long as short
Reya PAXGRUSDPERPlong	+0.0189%	1h	4,355.6	long leg	$21K	—	100x
Kraken Futures PF_PAXGUSD	+0.0286%	1h	4,356.9	+0.028%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0296%	1h	4,362.5	+0.159%	$976K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1000%	1h	4,367.6	+0.275%	$29K	$23K	10x	as long as short