Funding you earn now, next payment 06:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h 0.000%
Price spread now: Hyperliquid against Bybit−0.041%7-day average −0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$250.247% of the position
Funding, last 7 days−0.048%−$5 on $10k
+Price spread, last 7 days+0.018%+$2 · spread now −0.041%, 7d avg −0.010%
=Together, before fees−0.029%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Hyperliquid is 0.031% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.010%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PAXGUSDT | 4,342.9 | 0.0100 | pay 0.0050% / 4h | 2h 41m | $14.9M | $3.9M | 75x |
| Short | Hyperliquid PAXG | 4,341.1 | 0.0081 | get 0.0010% / 1h | 41m 08s | $20.8M | $2.3M | 10x |
Bybit PAXGUSDT
Hyperliquid PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- −$3.96
- Price spread: −0.041% → −0.010%
- −$3.14
- Slippage, 4 orders
- −$4.68
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$31.78
- Costs to cover
- 0.247%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; Hyperliquid: live order book, 12 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 | 6.5 bp −$6 | 9.8 bp −$98 | 25.5 bp −$2,554 | doesn't fit |
| Sell Hyperliquid live order book, 12 min ago | 0.12 bp | 6.1 bp −$6 | 7.4 bp −$74 | 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 | +0.011% | $46K | $158K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0101% | 1h | 4,343 | +0.003% | $1.3M | $1.5M | 20x | as long as short |
| Lighter PAXG | −0.0072% | 1h | 4,340.4 | −0.057% | $1.4M | $366K | 25x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,341.9 | −0.024% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,344.5 | +0.037% | $15.7M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,338.8 | −0.094% | $2K | $3.5M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,345.9 | +0.070% | $7.9M | $843K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,347 | +0.094% | $906K | $691K | 75x | as long as short |
| ApeX Omni PAXGUSDT | +0.0003% | 1h | 4,342.6 | −0.006% | $263K | $782K | 50x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0030% | 4h | 4,344.4 | +0.035% | $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 | +0.101% | $1K | $151K | 30x | as long as short |
| MEXC PAXG_USDT | +0.0044% | 4h | 4,343 | +0.002% | $16.2M | $1.0M | 100x | as long as short |
| Binance PAXGUSDT | +0.0044% | 4h | 4,340.9 | −0.045% | $80.2M | $70.4M | 75x | as long as short |
| Extended PAXG-USD | +0.0048% | 1h | 4,340.7 | −0.051% | $379K | $1.4M | 25x | as long as short |
| Aster PAXGUSDT | +0.0077% | 4h | 4,341 | −0.045% | $906K | $26K | 50x | as long as short |
| Hyperliquid PAXGshort | +0.0081% | 1h | 4,341.1 | −0.041% | $20.8M | $2.3M | 10x | |
| Paradex PAXG-USD-PERP | +0.0099% | 8h | 4,342.6 | −0.008% | $81K | $3.4M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,342.9 | 0.000% | $557 | — | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,344.4 | +0.035% | $1.0M | $353K | 10x | as long as short |
| Bybit PAXGUSDTlong | +0.0100% | 4h | 4,342.9 | long leg | $14.9M | $3.9M | 75x | |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,344.9 | +0.046% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,341.2 | −0.039% | $9.7M | $15.2M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,343.3 | +0.010% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,341.8 | −0.025% | $1.3M | $795K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,342.2 | −0.015% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,339 | −0.090% | $1.5M | $39K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,342.1 | −0.018% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0248% | 1h | 4,347.5 | +0.107% | $956K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0768% | 1h | 4,354.2 | +0.260% | $29K | $24K | 10x | as long as short |
Injective PAXG/USDC PERP
MEXC PAXG_USDT
Binance PAXGUSDT
Extended PAXG-USD
Aster PAXGUSDT
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Pacifica PAXG
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD