Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.030%
Price spread now: Hyperliquid against Deribit−0.075%7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$280.279% of the position
Funding, last 7 days+0.160%+$16 on $10k
+Price spread, last 3 days (all we have)0.000%$0 · spread now −0.075%, 7d avg −0.048%
=Together, before fees+0.160%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.027% cheaper against Deribit than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of −0.048%). If the spread goes back, that is −$3 on $10k: about 21 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PAXG_USDC-PERPETUAL | 4,346.6 | 0 | get 0.0000% / 1h | 54m 13s | $7.9M | $865K | 50x |
| Short | Hyperliquid PAXG | 4,343.4 | 0.0100 | get 0.0013% / 1h | 54m 13s | $20.3M | $1.8M | 10x |
Deribit PAXG_USDC-PERPETUAL
Hyperliquid PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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: −0.075% → −0.048%
- −$2.68
- Slippage, 4 orders
- −$11.87
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$9.55
- Costs to cover
- 0.279%
- Break-even
- 10.2 days
Slippage from Deribit: live order book, 5 min ago; Hyperliquid: live order book, 9 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 | 1.68 bp | 11.0 bp −$11 | 18.7 bp −$187 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 9 min ago | 0.35 bp | 6.5 bp −$7 | 9.1 bp −$91 | 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 | 4,340 | −0.152% | $101K | $13K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,345.6 | −0.024% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,338.5 | −0.188% | $2K | $4.0M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,346.6 | long leg | $7.9M | $865K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,345.9 | −0.016% | $909K | $656K | 75x | as long as short |
| Hibachi PAXG/USDT-P | +0.0008% | 1h | 4,343.5 | −0.071% | $47K | $148K | 20x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,337 | −0.222% | $1K | $121K | 30x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,344.3 | −0.054% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,342.2 | −0.102% | $1.4M | $273K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,343.6 | −0.070% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Hibachi PAXG/USDT-P
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 PAXGshort | +0.0100% | 1h | 4,343.4 | −0.075% | $20.3M | $1.8M | 10x | |
| Aster PAXGUSDT | +0.0100% | 4h | 4,343.8 | −0.064% | $907K | $28K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,344.9 | −0.040% | $1.0M | $373K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,342.9 | −0.085% | $80.0M | $68.6M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,344.4 | −0.052% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.3 | −0.100% | $15.9M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,345.6 | −0.023% | $26.8M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,343.6 | −0.071% | $9.2M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,344 | −0.061% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,344.9 | −0.041% | $1.4M | $956K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,343.3 | −0.077% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,343.4 | −0.075% | $1.5M | $2.1M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,342.7 | −0.091% | $263K | $798K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,343 | −0.084% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,340 | −0.153% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,342.4 | −0.097% | $377K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,342.8 | −0.087% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,347.6 | +0.022% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1464% | 1h | 4,360.6 | +0.321% | $29K | $21K | 10x | as long as short |
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