Funding you earn now, next payment 03:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.053%
Price spread now: Bybit against Coinbase International−0.053%7-day average −0.075% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$260.260% of the position
Funding, last 7 days−0.283%−$28 on $10k
+Price spread, last 4 days (all we have)−0.112%−$11 · spread now −0.053%, 7d avg −0.075%
=The price spread pays, funding is against you. Bybit is 0.021% dearer against Coinbase International than usual: you sell high and buy low (spread −0.053% now, against its 7-day average of −0.075%): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 8 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International PAXG-PERP-INTX | 4,341 | 0.0320 | pay 0.0040% / 1h | 59m 43s | $988K | $1.1M | 50x |
| Short | Bybit PAXGUSDT | 4,338.7 | 0.0100 | get 0.0050% / 4h | 3h 59m | $14.9M | $3.8M | 75x |
Coinbase International PAXG-PERP-INTX
Bybit PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Coinbase International. 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
- −$46.2
- Price spread: −0.053% → −0.075%
- $2.15
- Slippage, 4 orders
- −$4.96
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$70.01
- Costs to cover
- 0.260%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 4 min ago; Bybit: live order book, 4 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 Coinbase International live order book, 4 min ago | 1.84 bp | 6.8 bp −$7 | 9.6 bp −$96 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 0.12 bp | 6.7 bp −$7 | 8.8 bp −$88 | 23.5 bp −$2,355 | 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 | 4,339.8 | −0.028% | $42K | $155K | 20x | as long as short |
| Lighter PAXG | −0.0048% | 1h | 4,337 | −0.093% | $1.4M | $359K | 25x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,342 | +0.023% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,340.7 | −0.007% | $15.6M | $3.3M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,333.8 | −0.165% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,342.4 | +0.031% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,345 | +0.091% | $904K | $685K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.145% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0038% | 4h | 4,339.1 | −0.044% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0043% | 1h | 4,337 | −0.091% | $262K | $787K | 50x | as long as short |
Hibachi PAXG/USDT-P
Lighter PAXG
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended PAXG-USD | +0.0096% | 1h | 4,337 | −0.092% | $378K | $1.4M | 25x | as long as short |
| MEXC PAXG_USDT | +0.0096% | 4h | 4,341.1 | +0.001% | $16.1M | $1.0M | 100x | as long as short |
| Binance PAXGUSDT | +0.0098% | 4h | 4,338.3 | −0.063% | $80.0M | $70.9M | 75x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,338.5 | −0.058% | $81K | $3.7M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,339.2 | −0.042% | $557 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,338.8 | −0.051% | $20.8M | $2.4M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,340.9 | −0.002% | $906K | $26K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,340.5 | −0.013% | $1.0M | $338K | 10x | as long as short |
| Bybit PAXGUSDTshort | +0.0100% | 4h | 4,338.7 | −0.053% | $14.9M | $3.8M | 75x | |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,341.7 | +0.016% | $28.6M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,339.3 | −0.040% | $9.7M | $15.0M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,339.5 | −0.034% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,339.6 | −0.033% | $1.3M | $799K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,339.2 | −0.042% | $12.3M | $227K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,336 | −0.115% | $1.5M | $40K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,338.9 | −0.049% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0210% | 1h | 4,340 | −0.023% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTXlong | +0.0320% | 1h | 4,341 | long leg | $988K | $1.1M | 50x | |
| 01 Exchange PAXGUSD | +0.1088% | 1h | 4,349.2 | +0.189% | $29K | $23K | 10x | as long as short |
Extended PAXG-USD
MEXC PAXG_USDT
Binance PAXGUSDT
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
01 Exchange PAXGUSD