Pax Gold (PAXG) Perpetual Futures

The open-interest-weighted PAXG funding rate is +0.0039% per 8 hours, or +4.26% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from 0.0000% on Gate to +0.0100% on Hyperliquid. Compare all funding rates.

PAXG perpetual open interest is $274.07M (67,582 PAXG), down 2.21% in 24 hours. Binance holds the most at $107.41M. That is 15.19% of Pax Gold's market cap.

Pax Gold is an ERC-20 token issued by Paxos, with each token backed by one fine troy ounce of a London Good Delivery gold bar. Holders own the underlying gold and can redeem it through Paxos under its terms. The token trades around the clock on crypto exchanges.

Pax Gold perps traded $118.08M in the last 24 hours, +9.16% on the day before. Binance leads with 56%, followed by Bitget ($12.90M) and WhiteBIT ($10.14M).

Over the last 24 hours 49.4% of accounts are long and 50.6% short, a long/short ratio of 0.98. See the long/short ratio by exchange.

No. A PAXG perpetual is a crypto-settled contract that tracks the token's price, with profit and loss paid in stablecoins or crypto. The trader never holds PAXG or any gold, so there is no redemption right. Only the token itself gives a claim on the vaulted metal.

Both are gold-backed tokens, with PAXG issued by Paxos and XAUT, Tether Gold, issued by Tether. They track the gold price closely, so their perps usually move together. Small gaps can open between them because of differences in liquidity, redemption terms and issuer risk, which some traders watch as a spread.

$16.5K of PAXG positions were liquidated in 24 hours, $6.8K longs and $9.6K shorts. Bitget saw the most at $12.5K. See liquidations across the market.

They keep trading while major gold futures and spot markets are closed. With no traditional price to anchor to, the perp reflects crypto traders' view of where gold will reopen. Thin weekend liquidity can make price and funding swings larger than on weekdays, and gaps often narrow once gold markets restart.

PAXG perpetual futures are derivatives contracts that track the price of Pax Gold and never expire. They settle in crypto, usually USDT or USDC, so you get long or short price exposure with leverage without owning the underlying asset. A funding rate keeps the contract close to the reference price.

Funding is a payment between longs and shorts. When PAXG perps trade above the reference price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.

PAXG perps trade on 11 tracked exchanges. By volume the largest are Binance, Bitget and WhiteBIT. Compare fees and features on the best perpetual exchanges.

Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.