Funding you earn now, next payment 06:00 UTC−0.0101%/8h= −11.1% APRnext payment −$0.13 per $10,000 · paid last 24h +0.034%
Price spread now: Kraken Futures against Deribit−0.068%7-day average −0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs+$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$300.302% of the position
Funding, last 7 days+0.537%+$54 on $10k
+Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.068%, 7d avg −0.032%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.035% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.032%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.537%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PAXG_USDC-PERPETUAL | 4,347.3 | 0 | get 0.0000% / 1h | 51m 20s | $7.9M | $843K | 50x |
| Short | Kraken Futures PF_PAXGUSD | 4,344.4 | −0.0101 | pay 0.0013% / 1h | 51m 20s | $1.3M | $1.5M | 20x |
Deribit PAXG_USDC-PERPETUAL
Kraken Futures PF_PAXGUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$21.24
- Price spread: −0.068% → −0.032%
- −$3.52
- Slippage, 4 orders
- −$13.16
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$54.91
- Costs to cover
- 0.302%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 3 min ago; Kraken Futures: 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 | 1.80 bp | 9.7 bp −$10 | 16.5 bp −$165 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 0.46 bp | 8.3 bp −$8 | 16.2 bp −$162 | 43.4 bp −$4,337 | 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 | −0.0200% | 1h | 4,343.5 | −0.087% | $46K | $158K | 20x | as long as short |
| Kraken Futures PF_PAXGUSDshort | −0.0101% | 1h | 4,344.4 | −0.068% | $1.3M | $1.5M | 20x | |
| Lighter PAXG | −0.0088% | 1h | 4,341.5 | −0.134% | $1.4M | $365K | 25x | as long as short |
| ApeX Omni PAXGUSDT | −0.0021% | 1h | 4,338.3 | −0.207% | $262K | $784K | 50x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,341.9 | −0.126% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,345.2 | −0.049% | $15.6M | $3.3M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,340.4 | −0.159% | $2K | $3.5M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,347.3 | long leg | $7.9M | $843K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,344.9 | −0.056% | $905K | $691K | 75x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0008% | 4h | 4,340.6 | −0.154% | $1.5M | $1.9M | 10x | as long as short |
Hibachi PAXG/USDT-P
Lighter PAXG
ApeX Omni PAXGUSDT
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
GRVT PAXG_USDT_PerpShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.001% | $1K | $151K | 30x | as long as short |
| MEXC PAXG_USDT | +0.0036% | 4h | 4,344.5 | −0.066% | $16.2M | $1.0M | 100x | as long as short |
| Binance PAXGUSDT | +0.0037% | 4h | 4,343.4 | −0.090% | $80.2M | $70.4M | 75x | as long as short |
| Extended PAXG-USD | +0.0040% | 1h | 4,342.2 | −0.117% | $379K | $1.4M | 25x | as long as short |
| Aster PAXGUSDT | +0.0076% | 4h | 4,343.3 | −0.093% | $906K | $26K | 50x | as long as short |
| Hyperliquid PAXG | +0.0093% | 1h | 4,343.4 | −0.090% | $20.8M | $2.3M | 10x | as long as short |
| Paradex PAXG-USD-PERP | +0.0099% | 8h | 4,343.3 | −0.093% | $81K | $3.4M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,342.9 | −0.102% | $557 | — | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,344.7 | −0.061% | $1.0M | $343K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,344.4 | −0.067% | $14.9M | $3.8M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,346.6 | −0.017% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,343.6 | −0.086% | $9.8M | $15.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,343.6 | −0.085% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,343.8 | −0.081% | $1.3M | $793K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,340.8 | −0.150% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,339 | −0.192% | $1.5M | $39K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,343 | −0.099% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0248% | 1h | 4,347.5 | +0.005% | $956K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0768% | 1h | 4,354.1 | +0.156% | $29K | $24K | 10x | as long as short |
Injective PAXG/USDC PERP
MEXC PAXG_USDT
Binance PAXGUSDT
Extended PAXG-USD
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
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD