Self-Attention is a widely used building block in neural modeling to mix long-range data elements. Most self-attention neural networks employ pairwise dot-products to specify the attention coefficients. However, these methods require $O(N^2)$ computing cost for sequence length $N$. Even though some approximation methods have been introduced to relieve the quadratic cost, the performance of the dot-product approach is still bottlenecked by the low-rank constraint in the attention matrix factorization. In this paper, we propose a novel scalable and effective mixing building block called Paramixer. Our method factorizes the interaction matrix into several sparse matrices, where we parameterize the non-zero entries by MLPs with the data elements as input. The overall computing cost of the new building block is as low as $O(N \log N)$. Moreover, all factorizing matrices in Paramixer are full-rank, so it does not suffer from the low-rank bottleneck. We have tested the new method on both synthetic and various real-world long sequential data sets and compared it with several state-of-the-art attention networks. The experimental results show that Paramixer has better performance in most learning tasks.