Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 4,225.1 | +0.1112 | pay 0.0139% / 1h | 32m 41s | $914K | $927K | 50x | Long Coinbase International | |
| SHORT | 4,195.5 | +0.0057 | get 0.0007% / 1h | 32m 41s | $808K | $2.4M | 20x | Short Bulk |
Price gap−0.700%
Funding gap−0.1055% /8h
Both sides work against this direction now: funding costs $32 a day on $10k and the gap is 0.590% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$32−0.1055% /8h now · paid −0.320% over the last 6 days (all we have)
Price−$59spread −0.700% now, avg −0.111% → −0.590% if it goes back
Costs−$550.549% of $10k · taker + slippage, in and out
The current funding rate is far below what this pair has been paying: over the last 6 days it paid −0.320% in total, about −0.0176%/8h on average.
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.700%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPAXG on 29 exchanges
lowest funding firstBefore you open
1 ok · 4 to watch- Watch: Thin at this size22.4 / 5.8 bpAt $10k entering Coinbase International costs 22.4 bp, fee and slippage, 3.9× Bulk’s.
- Note: Margin at max leverage$200 + $500Coinbase International 50x, Bulk 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: −$31.66Long Coinbase International: 24 payments, −$33.36; short Bulk: 24 payments, +$1.70.
- Watch: Gap narrower than usual−0.700% vs −0.111%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$808K vs $914K OIBulk sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCCoinbase International Yes · Bulk NoID and a suitability check; perps are for eligible non-US countries, not for US or UK retail.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0176%/8h × 21 periods−$36.98
Price spread−0.700% → −0.111% (7d avg)−$58.98
Slippage, 4 orderslive order books−$39.88
Fee Coinbase International bp × 2 orders−$8.00
Fee Bulk bp × 2 orders−$7.00
Net · 7 days · $10k−$150.84
Costs to cover0.549%Break-evennever at this rate
Slippage: Coinbase International: live order book, 35 min ago; Bulk: live order book, just nowCost to enter
taker + slippage from mid, one sideBUY · LONGCoinbase International18.4222.4 bp−$221218.5 bp−$12.2Kdoesn’t fitdoesn’t fit
SELL · SHORTBulk0.005.8 bp−$66.5 bp−$65doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-30 01:05 | Reya | Listing | PAXGRUSDPERP no longer reported ($PAXG) seen by our collector |
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| 09-24 11:53 | Bulk | Other | GOLD on BULK Trade $PAXG by @Paxos with up to 20x leverage now on @bulktrade on X ↗ |
| 09-17 15:05 | Deribit | Product | 🚨 Live on Deribit: Coinbase Exchange Liquidity for Spot Markets We’re excited to announce that the following spot markets on Deribit are now routed through Coinbase Exchange liquidity: BTC-USDC · ETH-USDC · XRP-USDC · BNB-USDC · SOL-USDC · PAXG-USDC Read more here: @DeribitOfficial on X ↗ |
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