Funding you earn now, next payment 00:00 UTC+0.0185%/8h= +20.3% APRnext payment +$0.23 per $10,000 · paid last 24h −0.002%
Price spread now: Kraken Futures against Backpack+0.014%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs+$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$250.247% of the position
Funding, last 7 days+0.338%+$34 on $10k
+Price spread, last 3 days (all we have)+0.032%+$3 · spread now +0.014%, 7d avg +0.004%
=The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$6 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 | 4,365.3 | 0.0100 | pay 0.0013% / 1h | 0m 06s | $1.4M | $972K | 50x |
| Short | Kraken Futures PF_PAXGUSD | 4,365.9 | 0.0285 | get 0.0036% / 1h | 0m 06s | $1.3M | $1.5M | 20x |
Backpack PAXG_USDC_PERP
Kraken Futures PF_PAXGUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $38.9
- Price spread: +0.014% → +0.004%
- $1.01
- Slippage, 4 orders
- −$4.68
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $15.23
- Costs to cover
- 0.247%
- Break-even
- 4.3 days
Slippage from Backpack: live order book, 4 min ago; Kraken Futures: live order book, 3 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, 4 min ago | 0.01 bp | 5.0 bp −$5 | 6.2 bp −$62 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 0.46 bp | 6.7 bp −$7 | 12.3 bp −$123 | 38.5 bp −$3,846 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | −0.0007% | 1h | 4,347.3 | −0.412% | $1K | $151K | 30x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,362.4 | −0.066% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,366.8 | +0.035% | $15.8M | $3.7M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,360.6 | −0.106% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,368.2 | +0.067% | $8.0M | $866K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,367.6 | +0.053% | $912K | $654K | 75x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,364.1 | −0.027% | $1.4M | $272K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,364.6 | −0.015% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,364.5 | −0.018% | $20.5M | $1.9M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,365.6 | +0.007% | $911K | $30K | 50x | as long as short |
Injective PAXG/USDC PERP
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Aster PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PAXG | +0.0100% | 1h | 4,366 | +0.018% | $1.0M | $363K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,364.3 | −0.022% | $80.1M | $70.2M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,365.7 | +0.011% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,361 | −0.098% | $16.2M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,366.8 | +0.035% | $28.5M | $5.6M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,365.5 | +0.006% | $9.6M | $15.0M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,365.5 | +0.004% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,365.3 | long leg | $1.4M | $972K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,365.6 | +0.007% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,361.4 | −0.088% | $1.5M | $2.1M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,361.6 | −0.085% | $264K | $793K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,364.1 | −0.027% | $560 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,361 | −0.098% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,364.1 | −0.026% | $379K | $1.2M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0144% | 1h | 4,365.2 | −0.003% | $42K | $155K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,365.4 | +0.003% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSDshort | +0.0285% | 1h | 4,365.9 | +0.014% | $1.3M | $1.5M | 20x | |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,367.6 | +0.054% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0960% | 1h | 4,375.6 | +0.237% | $29K | $23K | 10x | as long as short |
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
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD