Funding you earn now, next payment 23:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h −0.013%
Price spread now: Hibachi against Deribit−0.101%7-day average −0.056% · you buy dearer than you sell
Net, funding: paid 7d − costs+$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$520.515% of the position
Funding, last 7 days+0.695%+$69 on $10k
+Price spread, last 3 days (all we have)+0.015%+$2 · spread now −0.101%, 7d avg −0.056%
=Together, before fees+0.710%+ Points / potential airdropHibachi: Active · farm board+$71 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hibachi is 0.045% cheaper against Deribit than usual: you would sell low and buy high (spread −0.101% now, against its 7-day average of −0.056%). If the spread goes back, that is −$5 on $10k: about 38 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.695% in total) that is about 11 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PAXG_USDC-PERPETUAL | 4,352.6 | 0 | get 0.0000% / 1h | 14m 10s | $7.9M | $865K | 50x |
| Short | Hibachi PAXG/USDT-P | 4,348.2 | 0.0096 | get 0.0012% / 1h | 14m 10s | $47K | $139K | 20x |
Deribit PAXG_USDC-PERPETUAL
Hibachi PAXG/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi 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
- $20.16
- Price spread: −0.101% → −0.056%
- −$4.53
- Slippage, 4 orders
- −$35.52
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$35.89
- Costs to cover
- 0.515%
- Break-even
- 19.5 days
Slippage from Deribit: live order book, 5 min ago; Hibachi: 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, 5 min ago | 1.60 bp | 7.8 bp −$8 | 14.5 bp −$145 | doesn't fit | doesn't fit |
| Sell Hibachi live order book, 5 min ago | 0.14 bp | 16.5 bp −$17 | 51.7 bp −$517 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,347.3 | −0.122% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,350.9 | −0.038% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,341.7 | −0.249% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,352.6 | long leg | $7.9M | $865K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,351.1 | −0.033% | $909K | $645K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.121% | $1K | $151K | 30x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,350.5 | −0.046% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,348.2 | −0.101% | $1.4M | $273K | 25x | as long as short |
| Hibachi PAXG/USDT-Pshort | +0.0096% | 1h | 4,348.2 | −0.101% | $47K | $139K | 20x | |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,347.8 | −0.110% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Injective PAXG/USDC PERP
Kraken Futures PF_PAXGUSD
Lighter PAXG
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 | 4,349.7 | −0.066% | $20.3M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,348.6 | −0.092% | $907K | $27K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,348.8 | −0.086% | $1.0M | $344K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,349.1 | −0.079% | $80.1M | $67.1M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,350 | −0.060% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,345.1 | −0.171% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,350.2 | −0.053% | $26.8M | $5.2M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,350 | −0.058% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,348.9 | −0.085% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,349.8 | −0.064% | $1.4M | $954K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,348.2 | −0.100% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,348.2 | −0.100% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,347.5 | −0.117% | $263K | $797K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,347.9 | −0.107% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,346 | −0.151% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,347.9 | −0.107% | $378K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,349.3 | −0.074% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,351.8 | −0.017% | $975K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1328% | 1h | 4,359.8 | +0.166% | $29K | $22K | 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
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD