Quantority
PAX Gold PAXG · perps
Price · 1h
PAXG across exchanges
| Exchange | Funding APR | Open interest | OI share |
|---|---|---|---|
B Binance | +6.16% | $82.57M | 73% |
B Bybit | -9.13% | $20.17M | 18% |
B Bitget | -1.75% | $9.88M | 9% |
Funding annualized per venue interval; open interest is the latest reading per exchange. No fresh per-venue reading from OKX right now — the cross-exchange totals above still include every venue's last data.
Interpretation
PAXG's derivatives positioning shows modest activity with low leverage risk. Open interest stands at $111.9M, and it has contracted over the recent period—declining 5.3% in the past day and 8.6% over the week—indicating steady deleveraging or position closure rather than fresh leverage accumulation.
The funding rate environment is neutral. At 7.42% annualized, the aggregated funding rate sits comfortably within its recent range, placing it at the 53rd percentile of the last 90 days. This suggests neither extreme crowding on the long side nor shorts commanding outsized premium; the market is in a balanced state relative to its own recent history.
Liquidation activity over 24 hours was perfectly balanced, with a liquidation imbalance of +0.00 indicating no systematic bias toward either longs or shorts being flushed out. The leverage risk score of 5 is notably low, reflecting minimal fragility in the overall positioning structure.
Taken together, PAXG presents a subdued, low-tension derivatives picture: traders are actively reducing leverage, funding is moderate and unremarkable, and the contract carries minimal leverage-related stress.