Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: Deribit against Bybit+0.057%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$300.298% of the position
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 4 days (all we have)+0.030%+$3 · spread now +0.057%, 7d avg +0.040%
=The price spread sits at its 7-day average of +0.040%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PAXGUSDT | 4,345.5 | 0.0100 | pay 0.0050% / 4h | 26m 04s | $14.9M | $3.8M | 75x |
| Short | Deribit PAXG_USDC-PERPETUAL | 4,347.9 | 0 | get 0.0000% / 1h | 26m 04s | $7.9M | $868K | 50x |
Bybit PAXGUSDT
Deribit PAXG_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bybit. 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: +0.057% → +0.040%
- $1.76
- Slippage, 4 orders
- −$11.77
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$49.01
- Costs to cover
- 0.298%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; Deribit: 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 Bybit live order book, 2 min ago | 0.12 bp | 7.3 bp −$7 | 11.1 bp −$111 | 26.6 bp −$2,665 | doesn't fit |
| Sell Deribit live order book, 3 min ago | 3.68 bp | 7.9 bp −$8 | 13.1 bp −$131 | 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 | −0.0128% | 1h | 4,343.3 | −0.050% | $42K | $155K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,345.5 | +0.001% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,347.2 | +0.040% | $15.6M | $3.3M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,341.7 | −0.086% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALshort | 0.0000% | 1h | 4,347.9 | +0.057% | $7.9M | $868K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,346.4 | +0.022% | $906K | $680K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.043% | $1K | $151K | 30x | as long as short |
| Lighter PAXG | +0.0048% | 1h | 4,344.1 | −0.030% | $1.4M | $352K | 25x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,343.5 | −0.045% | $557 | — | 10x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,344.6 | −0.019% | $81K | $3.7M | 50x | as long as short |
Hibachi PAXG/USDT-P
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Injective PAXG/USDC PERP
Lighter PAXG
Orderly PERP_PAXG_USDC_mythos
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,345.3 | −0.003% | $20.8M | $2.4M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,346.2 | +0.017% | $907K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,346.4 | +0.022% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,344.4 | −0.023% | $80.3M | $70.7M | 75x | as long as short |
| Bybit PAXGUSDTlong | +0.0100% | 4h | 4,345.5 | long leg | $14.9M | $3.8M | 75x | |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,345.6 | +0.004% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,347.9 | +0.055% | $28.6M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,345.7 | +0.005% | $9.7M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,345.2 | −0.006% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,345.3 | −0.003% | $1.3M | $804K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,344.3 | −0.025% | $12.5M | $97K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,342.2 | −0.074% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,341.4 | −0.094% | $263K | $788K | 50x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,342 | −0.079% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,343.3 | −0.049% | $379K | $1.5M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,344.6 | −0.020% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0210% | 1h | 4,345.2 | −0.007% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,348.9 | +0.080% | $968K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0856% | 1h | 4,355.3 | +0.227% | $29K | $23K | 10x | as long as short |
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD