Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Phemex against Backpack−0.058%7-day average −0.069% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$620.622% of the position
Funding, last 7 days0.000%$0 on $10k
+Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.058%, 7d avg −0.069%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PAXG_USDC_PERP | 4,302.5 | 0.0100 | pay 0.0013% / 1h | 22m 48s | $1.2M | $862K | 50x |
| Short | Phemex PAXGUSDT | 4,300 | 0.0100 | get 0.0050% / 4h | 3h 22m | $1.5M | $78K | 50x |
Backpack PAXG_USDC_PERP
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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: −0.058% → −0.069%
- $1.12
- Slippage, 4 orders
- −$40.2
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$61.08
- Costs to cover
- 0.622%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; Phemex: live order book, 5 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 | 5.7 bp −$6 | 7.4 bp −$74 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 6.99 bp | 23.8 bp −$24 | doesn't fit | 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 | 4,299.6 | −0.068% | $1.4M | $626K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0176% | 1h | 4,300 | −0.057% | $40K | $184K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0154% | 4h | 4,295.1 | −0.173% | $1.5M | $1.9M | 10x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0097% | 1h | 4,302.6 | +0.002% | $1.2M | $2.0M | 20x | as long as short |
| dYdX PAXG-USD | −0.0010% | 1h | 4,297.8 | −0.109% | $100K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,304.5 | +0.047% | $15.6M | $4.0M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,296.7 | −0.135% | $2K | $3.2M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,305.4 | +0.069% | $7.9M | $613K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,303.5 | +0.024% | $904K | $833K | 75x | as long as short |
| MEXC PAXG_USDT | +0.0006% | 4h | 4,308.9 | +0.149% | $16.7M | $1.2M | 100x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
Kraken Futures PF_PAXGUSD
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
MEXC PAXG_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance PAXGUSDT | +0.0006% | 4h | 4,304.2 | +0.039% | $80.1M | $81.0M | 75x | as long as short |
| Extended PAXG-USD | +0.0008% | 1h | 4,301.7 | −0.019% | $373K | $1.5M | 25x | as long as short |
| Bitget PAXGUSDT | +0.0016% | 4h | 4,304.3 | +0.042% | $9.5M | $16.1M | 50x | as long as short |
| Aster PAXGUSDT | +0.0022% | 4h | 4,302.4 | −0.003% | $900K | $37K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +1.041% | $1K | $151K | 30x | as long as short |
| ApeX Omni PAXGUSDT | +0.0036% | 1h | 4,296.7 | −0.135% | $260K | $772K | 50x | as long as short |
| Hyperliquid PAXG | +0.0083% | 1h | 4,303.7 | +0.028% | $21.1M | $2.7M | 10x | as long as short |
| Paradex PAXG-USD-PERP | +0.0086% | 8h | 4,300.2 | −0.053% | $81K | $4.4M | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,302.1 | −0.009% | $1.0M | $303K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,304.3 | +0.041% | $14.8M | $4.4M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,304.1 | +0.038% | $28.7M | $5.4M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,303.7 | +0.029% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,302.5 | long leg | $1.2M | $862K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,292.5 | −0.232% | $12.2M | $231K | — | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,300.2 | −0.053% | $552 | — | 10x | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,300 | −0.058% | $1.5M | $78K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,299.9 | −0.060% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,303.9 | +0.033% | $931K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0856% | 1h | 4,311.2 | +0.202% | $29K | $23K | 10x | as long as short |
Binance PAXGUSDT
Extended PAXG-USD
Bitget PAXGUSDT
Aster PAXGUSDT
Injective PAXG/USDC PERP
ApeX Omni PAXGUSDT
Hyperliquid PAXG
Paradex PAXG-USD-PERP
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
BingX PAXG-USDT
Variational Omni PAXG
Orderly PERP_PAXG_USDC_mythos
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD