Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.038%
Price spread now: dYdX against Backpack−0.034%7-day average −0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$67as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$410.412% of the position
Funding, last 7 days−0.255%−$25 on $10k
+Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.034%, 7d avg −0.014%
=The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PAXG_USDC_PERP | 4,318.9 | 0.0100 | pay 0.0013% / 1h | 22m 34s | $1.3M | $811K | 50x |
| Short | dYdX PAXG-USD | 4,317.4 | 0 | get 0.0000% / 1h | 22m 34s | $101K | $12K | 5x |
Backpack PAXG_USDC_PERP
dYdX PAXG-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21
- Price spread: −0.034% → −0.014%
- −$1.99
- Slippage, 4 orders
- −$21.18
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$64.17
- Costs to cover
- 0.412%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; dYdX: live order book, 26 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Backpack live order book, 1 min ago | 0.01 bp | 5.0 bp −$5 | 6.1 bp −$61 | 25.3 bp −$2,534 | doesn't fit |
| Sell dYdX live order book, 26 min ago | 10.36 bp | 15.4 bp −$15 | 95.6 bp −$956 | 165.8 bp −$16.6K | 867.4 bp −$433.7K |
PAXG on 29 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0168% | 1h | 4,329.6 | +0.248% | $40K | $165K | 20x | as long as short |
| Lighter PAXG | −0.0144% | 1h | 4,317.7 | −0.028% | $1.4M | $388K | 25x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0102% | 1h | 4,317.1 | −0.043% | $1.2M | $1.9M | 20x | as long as short |
| ApeX Omni PAXGUSDT | −0.0029% | 1h | 4,324.2 | +0.122% | $261K | $784K | 50x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0014% | 4h | 4,327 | +0.186% | $1.5M | $1.9M | 10x | as long as short |
| dYdX PAXG-USDshort | 0.0000% | 1h | 4,317.4 | −0.034% | $101K | $12K | 5x | |
| Gate PAXG_USDT | 0.0000% | 8h | 4,321.9 | +0.069% | $15.6M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,312.9 | −0.139% | $2K | $3.5M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,320.6 | +0.038% | $7.9M | $839K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,324.2 | +0.123% | $902K | $728K | 75x | as long as short |
Hibachi PAXG/USDT-P
Lighter PAXG
Kraken Futures PF_PAXGUSD
ApeX Omni PAXGUSDT
GRVT PAXG_USDT_Perp
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance PAXGUSDT | +0.0027% | 4h | 4,320 | +0.026% | $79.5M | $73.7M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0030% | 4h | 4,321.6 | +0.061% | $16.4M | $1.1M | 100x | as long as short |
| Extended PAXG-USD | +0.0032% | 1h | 4,318.6 | −0.008% | $377K | $1.4M | 25x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.657% | $1K | $151K | 30x | as long as short |
| Aster PAXGUSDT | +0.0055% | 4h | 4,320 | +0.026% | $901K | $27K | 50x | as long as short |
| Hyperliquid PAXG | +0.0076% | 1h | 4,319.6 | +0.016% | $20.7M | $2.4M | 10x | as long as short |
| Paradex PAXG-USD-PERP | +0.0097% | 8h | 4,320.2 | +0.030% | $81K | $3.3M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,316.4 | −0.058% | $554 | — | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,321.2 | +0.053% | $1.0M | $349K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,320.3 | +0.031% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,321.6 | +0.063% | $28.4M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,319.3 | +0.009% | $9.7M | $15.8M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,320.3 | +0.032% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,318.9 | long leg | $1.3M | $811K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,326.4 | +0.174% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,316 | −0.068% | $1.5M | $36K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,315.8 | −0.071% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0248% | 1h | 4,321.3 | +0.056% | $950K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0816% | 1h | 4,330.4 | +0.266% | $29K | $24K | 10x | as long as short |
Binance PAXGUSDT
MEXC PAXG_USDT
Extended PAXG-USD
Injective PAXG/USDC PERP
Aster PAXGUSDT
Hyperliquid PAXG
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Variational Omni PAXG
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD