PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0201%/8h= −22.1% APRnext payment −$0.25 per $10,000 · paid last 24h −0.023%

Price spread now: Injective against Backpack−0.072%7-day average +0.076% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 3 days (all we have)+0.174%+$17 · spread now −0.072%, 7d avg +0.076%

Together, before fees+0.102%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Injective is 0.148% cheaper against Backpack than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.076%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.072% in total (about -3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PAXG_USDC_PERP	4,340.1	0.0100	pay 0.0013% / 1h	50m 41s	$1.4M	$1.3M	50x
Short	Injective PAXG/USDC PERP	4,337	−0.0101	pay 0.0013% / 1h	50m 41s	$1K	$121K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee InjectivebpOrdersPrice spread, now −0.072%Rate

Funding earned: −$42.29
Price spread: −0.072% → +0.076%: −$14.82
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$67.13
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 3 min ago; Injective: no order-book sample. Net counts fees only.

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, 3 min ago	0.01 bp	5.7 bp −$6	8.8 bp −$88	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective PAXG/USDC PERPshort	−0.0101%	1h	4,337	−0.072%	$1K	$121K	30x
Hibachi PAXG/USDT-P	−0.0032%	1h	4,339.1	−0.023%	$41K	$156K	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,339.9	−0.005%	$101K	$18K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,341.1	+0.022%	$15.8M	$4.2M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,335.3	−0.112%	$2K	$4.1M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,342.7	+0.058%	$7.9M	$837K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,342	+0.042%	$906K	$660K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,337.1	−0.069%	$1.4M	$520K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,338.2	−0.045%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,338.4	−0.040%	$20.3M	$1.9M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PAXGUSDT	+0.0100%	4h	4,337.7	−0.055%	$906K	$76K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,339.1	−0.025%	$1.0M	$354K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,338.2	−0.044%	$79.9M	$70.0M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,338.6	−0.035%	$14.8M	$3.7M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,340	−0.002%	$15.9M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,340.3	+0.003%	$26.8M	$5.4M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,338.8	−0.031%	$9.2M	$14.4M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,338.8	−0.030%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERPlong	+0.0100%	1h	4,340.1	long leg	$1.4M	$1.3M	50x
Variational Omni PAXG	+0.0100%	4h	4,339	−0.025%	$12.4M	$114K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,339.3	−0.018%	$1.5M	$2.1M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,338.4	−0.040%	$262K	$799K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,338.2	−0.044%	$557	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,336	−0.095%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,337.8	−0.054%	$377K	$1.2M	25x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,339.1	−0.024%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0224%	1h	4,339.5	−0.014%	$1.3M	$1.5M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,341.6	+0.035%	$998K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1408%	1h	4,355.7	+0.359%	$29K	$21K	10x	as long as short