Funding you earn now, next payment 06:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h 0.000%
Price spread now: Backpack against Binance+0.044%55s7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$220.224% of the position
Funding, last 7 days+0.058%+$6 on $10k
+Price spread, last 7 days+0.039%+$4 · spread now +0.044%, 7d avg +0.037%
=The price spread sits at its 7-day average of +0.037%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance PAXGUSDT | 4,341.1 | 0.0044 | pay 0.0022% / 4h | 2h 41m | $80.2M | $70.4M | 75x |
| Short | Backpack PAXG_USDC_PERP | 4,343 | 0.0100 | get 0.0013% / 1h | 41m 15s | $1.3M | $795K | 50x |
Binance PAXGUSDT
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- $11.67
- Price spread: +0.044% → +0.037%
- $0.68
- Slippage, 4 orders
- −$2.38
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$10.03
- Costs to cover
- 0.224%
- Break-even
- 13.0 days
Slippage from Binance: live order book, 1 min ago; Backpack: 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 Binance live order book, 1 min ago | 0.01 bp | 5.0 bp −$5 | 5.1 bp −$51 | 8.4 bp −$835 | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.01 bp | 5.4 bp −$5 | 7.5 bp −$75 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0176% | 1h | 4,343.4 | +0.051% | $46K | $158K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0101% | 1h | 4,343 | +0.043% | $1.3M | $1.5M | 20x | as long as short |
| Lighter PAXG | −0.0072% | 1h | 4,340.4 | −0.017% | $1.4M | $366K | 25x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,341.9 | +0.016% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,345 | +0.089% | $15.7M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,338.8 | −0.053% | $2K | $3.5M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,345.9 | +0.111% | $7.9M | $843K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,347 | +0.134% | $906K | $691K | 75x | as long as short |
| ApeX Omni PAXGUSDT | +0.0003% | 1h | 4,342.6 | +0.034% | $263K | $782K | 50x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0030% | 4h | 4,344.4 | +0.076% | $1.5M | $1.9M | 10x | as long as short |
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
Lighter PAXG
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
ApeX Omni PAXGUSDT
GRVT PAXG_USDT_PerpShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.142% | $1K | $151K | 30x | as long as short |
| MEXC PAXG_USDT | +0.0044% | 4h | 4,343.9 | +0.063% | $16.2M | $1.0M | 100x | as long as short |
| Binance PAXGUSDTlong | +0.0044% | 4h | 4,341.1 | long leg | $80.2M | $70.4M | 75x | |
| Extended PAXG-USD | +0.0048% | 1h | 4,340.7 | −0.011% | $379K | $1.4M | 25x | as long as short |
| Aster PAXGUSDT | +0.0077% | 4h | 4,341.6 | +0.010% | $906K | $26K | 50x | as long as short |
| Hyperliquid PAXG | +0.0083% | 1h | 4,342.4 | +0.029% | $20.8M | $2.3M | 10x | as long as short |
| Paradex PAXG-USD-PERP | +0.0099% | 8h | 4,342.6 | +0.033% | $81K | $3.4M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,342.9 | +0.041% | $557 | — | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,344.4 | +0.075% | $1.0M | $353K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,343.4 | +0.052% | $14.9M | $3.9M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,345.3 | +0.096% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,341.6 | +0.010% | $9.7M | $15.2M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,344 | +0.066% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,343 | +0.044% | $1.3M | $795K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,343.5 | +0.054% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,339 | −0.049% | $1.5M | $39K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,342.1 | +0.022% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0248% | 1h | 4,347.5 | +0.147% | $956K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0768% | 1h | 4,354.2 | +0.301% | $29K | $24K | 10x | as long as short |
Injective PAXG/USDC PERP
MEXC PAXG_USDT
Extended PAXG-USD
Aster PAXGUSDT
Hyperliquid PAXG
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