Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.008%
Price spread now: HTX against Backpack+0.033%7-day average +0.135% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$58as in the Price arb table
costs, in and out, $10k−$480.476% of the position
Funding, last 7 days−0.071%−$7 on $10k
+Price spread, last 3 days (all we have)+0.117%+$12 · spread now +0.033%, 7d avg +0.135%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.102% cheaper against Backpack than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.135%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PAXG_USDC_PERP | 4,347.5 | 0.0100 | pay 0.0013% / 1h | 33m 30s | $1.4M | $953K | 50x |
| Short | HTX PAXG-USDT | 4,348.9 | 0 | get 0.0000% / 4h | 1h 33m | $909K | $652K | 75x |
Backpack PAXG_USDC_PERP
HTX PAXG-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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: +0.033% → +0.135%
- −$10.2
- Slippage, 4 orders
- −$25.57
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$78.77
- Costs to cover
- 0.476%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; HTX: live order book, 50 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 | 6.2 bp −$62 | 158.6 bp −$15.9K | doesn't fit |
| Sell HTX live order book, 50 min ago | 1.75 bp | 18.0 bp −$18 | 19.9 bp −$199 | 31.6 bp −$3,157 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,347.3 | −0.005% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,348.5 | +0.024% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,341.4 | −0.139% | $2K | $4.0M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,351.4 | +0.090% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDTshort | 0.0000% | 4h | 4,348.9 | +0.033% | $909K | $652K | 75x | |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,337 | −0.241% | $1K | $121K | 30x | as long as short |
| Hibachi PAXG/USDT-P | +0.0056% | 1h | 4,347.8 | +0.006% | $47K | $141K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,348.7 | +0.028% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,345.4 | −0.048% | $1.4M | $273K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,345.7 | −0.041% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
Lighter PAXG
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,346.2 | −0.029% | $20.3M | $1.9M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,346.3 | −0.027% | $907K | $28K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,347.5 | +0.002% | $1.0M | $366K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,346.2 | −0.029% | $80.0M | $67.3M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,346.7 | −0.018% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,345 | −0.057% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,348.2 | +0.017% | $26.8M | $5.2M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,345.7 | −0.041% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,346.7 | −0.018% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,347.5 | long leg | $1.4M | $953K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,346.7 | −0.019% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,347.1 | −0.009% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,346.7 | −0.019% | $263K | $797K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,347 | −0.011% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,341 | −0.149% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,345.4 | −0.049% | $378K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,345.9 | −0.037% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,349.1 | +0.037% | $975K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1432% | 1h | 4,363.8 | +0.376% | $29K | $21K | 10x | as long as short |
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD