PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0320%/8h= −35.0% APRnext payment −$0.40 per $10,000 · paid last 24h −0.083%

Price spread now: Deribit against Coinbase International+0.007%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.493%−$49 on $10k

Price spread, last 4 days (all we have)−0.085%−$8 · spread now +0.007%, 7d avg −0.035%

Together, before fees−0.578%−$58 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.042% dearer against Coinbase International than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.035%): +$4 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PAXG-PERP-INTX	4,346.2	0.0320	pay 0.0040% / 1h	26m 30s	$968K	$1.1M	50x
Short	Deribit PAXG_USDC-PERPETUAL	4,346.5	0	get 0.0000% / 1h	26m 30s	$7.9M	$868K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$67.2
Price spread: +0.007% → −0.035%: $4.21
Slippage, 4 orders: −$13.65
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$93.64
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from Coinbase International: 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 Coinbase International live order book, 2 min ago	1.89 bp	6.9 bp −$7	9.0 bp −$90	doesn't fit	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	4,341.5	−0.108%	$42K	$155K	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,345.5	−0.017%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,346.7	+0.011%	$15.6M	$3.3M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,339.5	−0.155%	$2K	$3.6M	20x	as long as short
Deribit PAXG_USDC-PERPETUALshort	0.0000%	1h	4,346.5	+0.007%	$7.9M	$868K	50x
HTX PAXG-USDT	0.0000%	4h	4,344.6	−0.038%	$906K	$677K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.025%	$1K	$151K	30x	as long as short
Lighter PAXG	+0.0056%	1h	4,343.9	−0.054%	$1.4M	$352K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,344.6	−0.037%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,344.9	−0.030%	$20.8M	$2.4M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PAXGUSDT	+0.0100%	4h	4,346	−0.005%	$907K	$30K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,346.4	+0.004%	$1.0M	$339K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,344.1	−0.049%	$80.3M	$70.6M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,345.4	−0.020%	$14.9M	$3.8M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,345.1	−0.026%	$16.1M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,347	+0.018%	$28.6M	$5.4M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,345.7	−0.012%	$9.7M	$14.9M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,345.1	−0.026%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,344.9	−0.030%	$1.3M	$804K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,340.7	−0.127%	$12.4M	$97K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,342.2	−0.092%	$1.5M	$1.9M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,341.4	−0.112%	$263K	$788K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,347.1	+0.020%	$558	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,341	−0.120%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,343.2	−0.069%	$379K	$1.5M	25x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,342.6	−0.083%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0210%	1h	4,343.9	−0.052%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTXlong	+0.0320%	1h	4,346.2	long leg	$968K	$1.1M	50x
01 Exchange PAXGUSD	+0.0856%	1h	4,355.3	+0.209%	$29K	$23K	10x	as long as short