Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: Deribit against BingX+0.082%54s7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as 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−$270.271% of the position
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.082%, 7d avg +0.038%
=The price spread pays, funding is against you. Deribit is 0.045% dearer against BingX than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of +0.038%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours. The two prices were read 54 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 | BingX PAXG-USDT | 4,357.5 | 0.0100 | pay 0.0050% / 4h | 2h 49m | — | $6.8M | — |
| Short | Deribit PAXG_USDC-PERPETUAL | 4,361.1 | 0 | get 0.0000% / 1h | 49m 24s | $7.9M | $873K | 50x |
BingX PAXG-USDT
Deribit PAXG_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against BingX. 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
- −$21
- Price spread: +0.082% → +0.038%
- $4.45
- Slippage, 4 orders
- −$10.08
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$43.63
- Costs to cover
- 0.271%
- Break-even
- never at this rate
Slippage from BingX: live order book, 3 min ago; Deribit: 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 BingX live order book, 3 min ago | 0.16 bp | 5.2 bp −$5 | 5.5 bp −$55 | 8.5 bp −$852 | 24.6 bp −$12.3K |
| Sell Deribit live order book, 5 min ago | 1.81 bp | 9.4 bp −$9 | 15.6 bp −$156 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,358.1 | +0.015% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,358.9 | +0.032% | $15.7M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,354.5 | −0.068% | $2K | $3.8M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALshort | 0.0000% | 1h | 4,361.1 | +0.082% | $7.9M | $873K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,360.7 | +0.074% | $907K | $628K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.234% | $1K | $151K | 30x | as long as short |
| Hibachi PAXG/USDT-P | +0.0072% | 1h | 4,357.6 | +0.003% | $42K | $160K | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,355.2 | −0.053% | $1.4M | $277K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,355.2 | −0.053% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,356.4 | −0.025% | $20.7M | $2.1M | 10x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXGShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PAXGUSDT | +0.0100% | 4h | 4,356.8 | −0.015% | $909K | $29K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,357.8 | +0.006% | $1.0M | $367K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,356.4 | −0.025% | $80.4M | $70.9M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,357.6 | +0.003% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,356.2 | −0.030% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,358.9 | +0.032% | $28.4M | $5.5M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,356.5 | −0.022% | $9.7M | $15.1M | 50x | as long as short |
| BingX PAXG-USDTlong | +0.0100% | 4h | 4,357.5 | long leg | — | $6.8M | — | |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,358.6 | +0.025% | $1.4M | $828K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,358.7 | +0.027% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,357.5 | +0.001% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,357 | −0.011% | $264K | $785K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,357 | −0.011% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,355 | −0.057% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,354.5 | −0.068% | $379K | $1.4M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,356.5 | −0.022% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0247% | 1h | 4,359 | +0.035% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0312% | 1h | 4,360.5 | +0.069% | $973K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1016% | 1h | 4,416.3 | +1.349% | $30K | $23K | 10x | as long as short |
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD