PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0329%/8h= −36.0% APRnext payment −$0.41 per $10,000 · paid last 24h −0.049%

Price spread now: Kraken Futures against Coinbase International−0.086%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.086%, 7d avg −0.070%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.070%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.028% in total (about 1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.41 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PAXG-PERP-INTX	4,309	0.0232	pay 0.0029% / 1h	38m 30s	$934K	$1.0M	50x
Short	Kraken Futures PF_PAXGUSD	4,305.3	−0.0097	pay 0.0012% / 1h	38m 30s	$1.2M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$69.07
Price spread: −0.086% → −0.070%: −$1.67
Slippage, 4 orders: −$13.25
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$104
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Kraken Futures: live order book, 5 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, 5 min ago	3.58 bp	8.6 bp −$9	10.5 bp −$105	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	0.58 bp	9.2 bp −$9	15.2 bp −$152	48.3 bp −$4,829	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
Lighter PAXG	−0.0200%	1h	4,302.1	−0.160%	$1.4M	$612K	25x	as long as short
GRVT PAXG_USDT_Perp	−0.0182%	4h	4,302.2	−0.158%	$1.5M	$1.9M	10x	as long as short
Hibachi PAXG/USDT-P	−0.0176%	1h	4,303.9	−0.117%	$42K	$172K	20x	as long as short
Kraken Futures PF_PAXGUSDshort	−0.0097%	1h	4,305.3	−0.086%	$1.2M	$1.7M	20x
dYdX PAXG-USD	−0.0002%	1h	4,306.2	−0.064%	$100K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,306.2	−0.065%	$15.6M	$3.8M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,300.2	−0.205%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,308.4	−0.015%	$7.9M	$599K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,308.8	−0.004%	$904K	$818K	75x	as long as short
Extended PAXG-USD	+0.0008%	1h	4,303.7	−0.123%	$374K	$1.6M	25x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PAXG_USDT	+0.0010%	4h	4,311.9	+0.067%	$16.8M	$1.2M	100x	as long as short
Binance PAXGUSDT	+0.0012%	4h	4,304.3	−0.108%	$80.1M	$79.8M	75x	as long as short
Aster PAXGUSDT	+0.0024%	4h	4,303.8	−0.120%	$899K	$33K	50x	as long as short
Bitget PAXGUSDT	+0.0026%	4h	4,303.7	−0.123%	$9.4M	$15.6M	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.889%	$1K	$151K	30x	as long as short
ApeX Omni PAXGUSDT	+0.0080%	1h	4,302.8	−0.145%	$261K	$772K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0096%	8h	4,303.3	−0.133%	$81K	$4.3M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,303.2	−0.135%	$21.0M	$2.6M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,306.2	−0.064%	$1.0M	$304K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,304.4	−0.107%	$14.8M	$4.3M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,305.4	−0.083%	$28.7M	$5.4M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,305.5	−0.082%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,304.4	−0.107%	$1.2M	$855K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,302.7	−0.145%	$12.2M	$230K	—	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,303.7	−0.123%	$552	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,304	−0.116%	$1.5M	$67K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,303.9	−0.119%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXlong	+0.0232%	1h	4,309	long leg	$934K	$1.0M	50x
01 Exchange PAXGUSD	+0.0824%	1h	4,314.5	+0.128%	$29K	$23K	10x	as long as short