No, it is not. Pace per km or per mile is used at "foot" activities only (run, walk, hike,...). For swimming activities it is the pace per 100m. For cycling it is the speed.
You can only see the pace for individual laps, if you use the auto-lap feature. In that case the time per lap, is you lap pace. So if you have the auto-lap set to 5km, the lap times will show you the 5km pace.
