Funding you earn now, next payment 09:00 UTC−0.0208%/8h= −22.8% APRnext payment −$0.26 per $10,000 · paid last 24h +0.013%
Price spread now: Lighter against Deribit−0.160%7-day average −0.072% · you buy dearer than you sell
Net, funding: paid 7d − costs−$2as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$200.204% of the position
Funding, last 7 days+0.183%+$18 on $10k
+Price spread, last 4 days (all we have)+0.001%$0 · spread now −0.160%, 7d avg −0.072%
=Together, before fees+0.184%+ Points / potential airdropLighter: Season 3 · farm board+$18 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Lighter is 0.088% cheaper against Deribit than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.072%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.183%, 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 | 4,315 | 0 | get 0.0000% / 1h | 50m 29s | $7.9M | $599K | 50x |
| Short | Lighter PAXG | 4,308.1 | −0.0208 | pay 0.0026% / 1h | 50m 29s | $1.4M | $608K | 25x |
Deribit PAXG_USDC-PERPETUAL
Lighter PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$43.68
- Price spread: −0.160% → −0.072%
- −$8.81
- Slippage, 4 orders
- −$13.35
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$72.84
- Costs to cover
- 0.204%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 4 min ago; Lighter: live order book, 6 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, 4 min ago | 3.26 bp | 10.8 bp −$11 | 16.6 bp −$166 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 6 min ago | 1.22 bp | 1.2 bp −$1 | 3.3 bp −$33 | 19.3 bp −$1,929 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter PAXGshort | −0.0208% | 1h | 4,308.1 | −0.160% | $1.4M | $608K | 25x | |
| GRVT PAXG_USDT_Perp | −0.0190% | 4h | 4,306.8 | −0.191% | $1.5M | $1.9M | 10x | as long as short |
| Hibachi PAXG/USDT-P | −0.0160% | 1h | 4,309.5 | −0.129% | $42K | $172K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0097% | 1h | 4,312.6 | −0.057% | $1.2M | $1.7M | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,310.3 | −0.109% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,311 | −0.094% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,306.9 | −0.188% | $2K | $3.2M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,315 | long leg | $7.9M | $599K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,311.4 | −0.085% | $904K | $809K | 75x | as long as short |
| Extended PAXG-USD | +0.0016% | 1h | 4,309.2 | −0.135% | $377K | $1.6M | 25x | as long as short |
GRVT PAXG_USDT_Perp
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Extended PAXG-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC PAXG_USDT | +0.0016% | 4h | 4,314.2 | −0.019% | $16.6M | $1.1M | 100x | as long as short |
| Binance PAXGUSDT | +0.0018% | 4h | 4,309.2 | −0.135% | $80.2M | $79.6M | 75x | as long as short |
| Aster PAXGUSDT | +0.0028% | 4h | 4,309.1 | −0.138% | $900K | $32K | 50x | as long as short |
| Bitget PAXGUSDT | +0.0030% | 4h | 4,310.3 | −0.110% | $9.4M | $16.0M | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.748% | $1K | $151K | 30x | as long as short |
| Paradex PAXG-USD-PERP | +0.0095% | 8h | 4,309.6 | −0.126% | $85K | $4.1M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,309.5 | −0.129% | $21.0M | $2.5M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,311.1 | −0.090% | $1.0M | $304K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,310.1 | −0.114% | $14.8M | $4.3M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,311 | −0.094% | $28.6M | $5.3M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,310.1 | −0.116% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,311 | −0.094% | $1.2M | $857K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,310.3 | −0.109% | $12.2M | $230K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,306.4 | −0.201% | $261K | $770K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,310 | −0.117% | $553 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,308 | −0.163% | $1.5M | $66K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,308.6 | −0.149% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,309.1 | −0.137% | $937K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0808% | 1h | 4,321 | +0.138% | $29K | $23K | 10x | as long as short |
MEXC PAXG_USDT
Binance PAXGUSDT
Aster PAXGUSDT
Bitget PAXGUSDT
Injective PAXG/USDC PERP
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD