Funding you earn now, next payment 22:00 UTC−0.0224%/8h= −24.5% APRnext payment −$0.28 per $10,000 · paid last 24h −0.055%
Price spread now: Lighter against Coinbase International−0.124%7-day average −0.100% · you buy dearer than you sell
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$150.150% of the position
Funding, last 7 days−0.282%−$28 on $10k
+Price spread, last 3 days (all we have)−0.038%−$4 · spread now −0.124%, 7d avg −0.100%
=Together, before fees−0.320%+ Points / potential airdropLighter: Season 3 · farm board−$32 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.024% cheaper against Coinbase International than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.100%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International PAXG-PERP-INTX | 4,350.3 | 0.0320 | pay 0.0040% / 1h | 32m 12s | $975K | $1.1M | 50x |
| Short | Lighter PAXG | 4,344.9 | 0.0096 | get 0.0012% / 1h | 32m 12s | $1.4M | $273K | 25x |
Coinbase International PAXG-PERP-INTX
Lighter PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$47.04
- Price spread: −0.124% → −0.100%
- −$2.35
- Slippage, 4 orders
- −$5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$64.4
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 1 min ago; Lighter: 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, 1 min ago | 1.05 bp | 6.4 bp −$6 | 9.0 bp −$90 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 0.95 bp | 1.5 bp −$2 | 3.9 bp −$39 | 18.6 bp −$1,857 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,347.3 | −0.071% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,348.5 | −0.042% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,339.7 | −0.244% | $2K | $4.0M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,351.1 | +0.019% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,348.7 | −0.037% | $909K | $653K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,337 | −0.306% | $1K | $121K | 30x | as long as short |
| Hibachi PAXG/USDT-P | +0.0064% | 1h | 4,347.3 | −0.070% | $47K | $142K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,348 | −0.054% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXGshort | +0.0096% | 1h | 4,344.9 | −0.124% | $1.4M | $273K | 25x | |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,345.5 | −0.110% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,346.2 | −0.095% | $20.3M | $1.9M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,346.3 | −0.092% | $907K | $28K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,347.4 | −0.066% | $1.0M | $366K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,346.1 | −0.096% | $80.0M | $67.4M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,346.7 | −0.084% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,345.2 | −0.118% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,348.3 | −0.046% | $26.8M | $5.2M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,346 | −0.100% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,346.6 | −0.086% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,347.3 | −0.069% | $1.4M | $952K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,346.7 | −0.084% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,347.1 | −0.075% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,346.7 | −0.084% | $263K | $797K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,345.7 | −0.106% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,343 | −0.168% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,345.1 | −0.119% | $378K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,345.3 | −0.115% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTXlong | +0.0320% | 1h | 4,350.3 | long leg | $975K | $1.1M | 50x | |
| 01 Exchange PAXGUSD | +0.1432% | 1h | 4,363.8 | +0.310% | $29K | $21K | 10x | as long as short |
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
01 Exchange PAXGUSD