Funding you earn now, next payment 05:00 UTC+0.0248%/8h= +27.2% APRnext payment +$0.31 per $10,000 · paid last 24h +0.083%
Price spread now: Coinbase International against Deribit−0.089%7-day average +0.034% · you buy dearer than you sell
Net, funding: paid 7d − costs+$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$320.322% of the position
Funding, last 7 days+0.496%+$50 on $10k
+Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.089%, 7d avg +0.034%
=Funding pays, the price is against you. Coinbase International is 0.123% cheaper against Deribit than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of +0.034%). If the spread goes back, that is −$12 on $10k: about 40 hours of funding at the current rate (+$7 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PAXG_USDC-PERPETUAL | 4,327 | 0 | get 0.0000% / 1h | 16m 30s | $7.9M | $839K | 50x |
| Short | Coinbase International PAXG-PERP-INTX | 4,323.1 | 0.0248 | get 0.0031% / 1h | 16m 30s | $951K | $1.1M | 50x |
Deribit PAXG_USDC-PERPETUAL
Coinbase International PAXG-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $52.08
- Price spread: −0.089% → +0.034%
- −$12.31
- Slippage, 4 orders
- −$15.21
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $7.56
- Costs to cover
- 0.322%
- Break-even
- 6.0 days
Slippage from Deribit: live order book, 3 min ago; Coinbase International: live order book, 2 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, 3 min ago | 3.49 bp | 9.5 bp −$9 | 15.4 bp −$154 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 2.86 bp | 7.9 bp −$8 | 14.9 bp −$149 | 137.5 bp −$13.7K | 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 | −0.0152% | 1h | 4,323.6 | −0.078% | $42K | $167K | 20x | as long as short |
| Lighter PAXG | −0.0136% | 1h | 4,322.5 | −0.104% | $1.4M | $389K | 25x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0102% | 1h | 4,323.8 | −0.073% | $1.2M | $1.9M | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0048% | 4h | 4,320.9 | −0.141% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | −0.0028% | 1h | 4,319 | −0.185% | $261K | $784K | 50x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,321.1 | −0.136% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,326.4 | −0.013% | $15.6M | $3.7M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,319.7 | −0.167% | $2K | $3.5M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,327 | long leg | $7.9M | $839K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,325.8 | −0.027% | $902K | $736K | 75x | as long as short |
Hibachi PAXG/USDT-P
Lighter PAXG
Kraken Futures PF_PAXGUSD
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC PAXG_USDT | +0.0020% | 4h | 4,325.4 | −0.037% | $16.4M | $1.1M | 100x | as long as short |
| Binance PAXGUSDT | +0.0022% | 4h | 4,324.7 | −0.053% | $79.7M | $74.2M | 75x | as long as short |
| Extended PAXG-USD | +0.0024% | 1h | 4,323.4 | −0.083% | $377K | $1.4M | 25x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.470% | $1K | $151K | 30x | as long as short |
| Aster PAXGUSDT | +0.0049% | 4h | 4,324.7 | −0.052% | $902K | $27K | 50x | as long as short |
| Hyperliquid PAXG | +0.0089% | 1h | 4,323.3 | −0.085% | $20.7M | $2.4M | 10x | as long as short |
| Paradex PAXG-USD-PERP | +0.0097% | 8h | 4,325.1 | −0.043% | $81K | $3.3M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,322.3 | −0.108% | $555 | — | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,325.1 | −0.042% | $1.0M | $348K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,325.1 | −0.044% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,326.4 | −0.012% | $28.5M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,324.4 | −0.060% | $9.3M | $16.0M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,325.6 | −0.032% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,323 | −0.092% | $1.3M | $814K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,317.2 | −0.226% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,321 | −0.138% | $1.5M | $45K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,322.6 | −0.100% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTXshort | +0.0248% | 1h | 4,323.1 | −0.089% | $951K | $1.1M | 50x | |
| 01 Exchange PAXGUSD | +0.0824% | 1h | 4,334.3 | +0.169% | $29K | $24K | 10x | as long as short |
MEXC PAXG_USDT
Binance PAXGUSDT
Extended PAXG-USD
Injective PAXG/USDC PERP
Aster PAXGUSDT
Hyperliquid PAXG
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Phemex PAXGUSDT
Reya PAXGRUSDPERP
01 Exchange PAXGUSD