Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Hyperliquid against Backpack−0.019%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$230.229% of the position
Funding, last 7 days−0.046%−$5 on $10k
+Price spread, last 7 days−0.168%−$17 · spread now −0.019%, 7d avg −0.031%
=Together, before fees−0.214%+ Points / potential airdropHyperliquid: Season 2 · farm board−$21 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PAXG_USDC_PERP | 4,320.1 | 0.0100 | pay 0.0013% / 1h | 8m 45s | $1.3M | $826K | 50x |
| Short | Hyperliquid PAXG | 4,319.3 | 0.0100 | get 0.0013% / 1h | 8m 45s | $20.8M | $2.4M | 10x |
Backpack PAXG_USDC_PERP
Hyperliquid PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $0
- Price spread: −0.019% → −0.031%
- $1.17
- Slippage, 4 orders
- −$3.88
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$21.71
- Costs to cover
- 0.229%
- Break-even
- never at this rate
Slippage from Backpack: live order book, just now; Hyperliquid: live order book, 4 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, just now | 0.01 bp | 5.0 bp −$5 | 5.6 bp −$56 | 195.5 bp −$19.5K | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 0.12 bp | 7.7 bp −$8 | 9.1 bp −$91 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter PAXG | −0.0176% | 1h | 4,317.3 | −0.066% | $1.4M | $468K | 25x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0106% | 4h | 4,319.5 | −0.015% | $1.5M | $2.0M | 10x | as long as short |
| Hibachi PAXG/USDT-P | −0.0104% | 1h | 4,319.1 | −0.023% | $42K | $168K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0044% | 1h | 4,320.2 | +0.001% | $1.2M | $1.9M | 20x | as long as short |
| Extended PAXG-USD | −0.0008% | 1h | 4,318.7 | −0.033% | $378K | $625K | 25x | as long as short |
| Binance PAXGUSDT | −0.0005% | 4h | 4,319.7 | −0.010% | $79.6M | $75.1M | 75x | as long as short |
| MEXC PAXG_USDT | −0.0004% | 4h | 4,324 | +0.089% | $16.6M | $1.1M | 100x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,317.9 | −0.052% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,321.3 | +0.027% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,315.7 | −0.102% | $2K | $3.3M | 20x | as long as short |
Lighter PAXG
GRVT PAXG_USDT_Perp
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
Extended PAXG-USD
Binance PAXGUSDT
MEXC PAXG_USDT
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,323.5 | +0.078% | $7.9M | $850K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,322.1 | +0.046% | $903K | $776K | 75x | as long as short |
| Aster PAXGUSDT | +0.0011% | 4h | 4,320 | −0.003% | $901K | $27K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.629% | $1K | $151K | 30x | as long as short |
| ApeX Omni PAXGUSDT | +0.0039% | 1h | 4,317.9 | −0.051% | $261K | $773K | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0098% | 8h | 4,320 | −0.003% | $85K | $3.3M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,319.4 | −0.017% | $554 | — | 10x | as long as short |
| Hyperliquid PAXGshort | +0.0100% | 1h | 4,319.3 | −0.019% | $20.8M | $2.4M | 10x | |
| Pacifica PAXG | +0.0100% | 1h | 4,321.1 | +0.022% | $1.0M | $316K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,320.1 | −0.001% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,322.3 | +0.051% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,319.2 | −0.020% | $9.4M | $16.5M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,321.2 | +0.025% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,320.1 | long leg | $1.3M | $826K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,318.9 | −0.029% | $12.3M | $223K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,320 | −0.003% | $1.5M | $52K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,318.6 | −0.034% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,322.2 | +0.047% | $949K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0808% | 1h | 4,330.1 | +0.231% | $29K | $23K | 10x | as long as short |
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Aster PAXGUSDT
Injective PAXG/USDC PERP
ApeX Omni PAXGUSDT
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