On-chain Gold Trading Gains Momentum
Driven by rising gold and silver prices, multiple decentralized perpetual platforms (Perp DEXs) have launched PAXG (on-chain gold) contracts. Market data shows a significant increase in PAXG-related trading activity, making it a new hotspot in DeFi trading.
Divergence in Funding Rates Across Platforms
According to Pacifica's data, in the past 8 hours, the PAXG funding rates on Binance, Hyperliquid, Bybit, and Pacifica have all remained at +0.01%. However, Lighter and Backpack show different rates at +0.009% and -0.03% respectively, reflecting liquidity differences between platforms.
Key Platform PAXG Trading Overview
- Hyperliquid: $21.14M 24h trading volume, with open interest reaching approximately $80.72M;
- Lighter: $48.38M 24h trading volume, with open interest at approximately $39.56M;
- Backpack: $38.82M 24h trading volume, with open interest data yet to be disclosed;
- Pacifica: $1.28M 24h trading volume, with open interest at approximately $2.68M.
The above data reflects the latest open interest and liquidity status of PAXG contracts on each platform as of the time of writing.