Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%
Price spread now: Bybit against Deribit−0.080%45s7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$310.309% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 3 days (all we have)+0.011%+$1 · spread now −0.080%, 7d avg −0.039%
=Funding pays, the price is against you. Bybit is 0.040% cheaper against Deribit than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of −0.039%). If the spread goes back, that is −$4 on $10k: about 32 hours of funding at the current rate (+$3 a day). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PAXG_USDC-PERPETUAL | 4,363.1 | 0 | get 0.0000% / 1h | 53m 32s | $7.9M | $866K | 50x |
| Short | Bybit PAXGUSDT | 4,359.6 | 0.0100 | get 0.0050% / 4h | 53m 32s | $15.2M | $3.6M | 75x |
Deribit PAXG_USDC-PERPETUAL
Bybit PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Deribit. 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
- $21
- Price spread: −0.080% → −0.039%
- −$4.03
- Slippage, 4 orders
- −$12.94
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$13.97
- Costs to cover
- 0.309%
- Break-even
- 11.7 days
Slippage from Deribit: live order book, 1 min ago; Bybit: 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 Deribit live order book, 1 min ago | 2.30 bp | 7.1 bp −$7 | 14.5 bp −$145 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.12 bp | 8.4 bp −$8 | 12.1 bp −$121 | 27.1 bp −$2,710 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | −0.0007% | 1h | 4,347.3 | −0.362% | $1K | $151K | 30x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,358.3 | −0.109% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,361.2 | −0.043% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,354.5 | −0.198% | $2K | $4.0M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,363.1 | long leg | $7.9M | $866K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,361.2 | −0.042% | $911K | $634K | 75x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,358.3 | −0.111% | $1.4M | $270K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,358.5 | −0.106% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,359.2 | −0.089% | $20.4M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,359.5 | −0.082% | $909K | $30K | 50x | as long as short |
Injective PAXG/USDC PERP
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Aster PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PAXG | +0.0100% | 1h | 4,360.5 | −0.059% | $1.0M | $344K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,358.5 | −0.104% | $80.0M | $68.5M | 75x | as long as short |
| Bybit PAXGUSDTshort | +0.0100% | 4h | 4,359.6 | −0.080% | $15.2M | $3.6M | 75x | |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,357 | −0.139% | $16.1M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,361.3 | −0.042% | $27.0M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,360 | −0.070% | $9.8M | $13.8M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,359.8 | −0.074% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,360 | −0.071% | $1.4M | $955K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,358.1 | −0.115% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,360.1 | −0.069% | $1.6M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,357.9 | −0.119% | $264K | $795K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,359.3 | −0.086% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,355 | −0.185% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,357.5 | −0.128% | $378K | $1.2M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0160% | 1h | 4,360.6 | −0.057% | $48K | $139K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,359 | −0.093% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0286% | 1h | 4,360.6 | −0.057% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,362.5 | −0.012% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1080% | 1h | 4,370 | +0.159% | $29K | $23K | 10x | as long as short |
Pacifica PAXG
Binance 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
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD