Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%
Price spread now: Phemex against Gate−0.133%49s7-day average −0.110% · you buy dearer than you sell
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$740.740% of the position
Funding, last 7 days+0.169%+$17 on $10k
+Price spread, last 3 days (all we have)+0.056%+$6 · spread now −0.133%, 7d avg −0.110%
=Funding pays, the price is against you. Phemex is 0.023% cheaper against Gate than usual: you would sell low and buy high (spread −0.133% now, against its 7-day average of −0.110%). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate PAXG_USDT | 4,356.8 | 0 | get 0.0000% / 8h | 1h 09m | $15.8M | $3.6M | 100x |
| Short | Phemex PAXGUSDT | 4,351 | 0.0100 | get 0.0050% / 4h | 1h 09m | $1.5M | $38K | 50x |
Gate PAXG_USDT
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Gate. 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: −0.133% → −0.110%
- −$2.34
- Slippage, 4 orders
- −$46.99
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$55.32
- Costs to cover
- 0.740%
- Break-even
- 25.4 days
Slippage from Gate: live order book, 4 min ago; Phemex: live order book, 4 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 Gate live order book, 4 min ago | 0.57 bp | 9.0 bp −$9 | 11.5 bp −$115 | 26.7 bp −$2,670 | 60.9 bp −$30.4K |
| Sell Phemex live order book, 4 min ago | 5.75 bp | 27.1 bp −$27 | doesn't fit | 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 | 4,354.3 | −0.058% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDTlong | 0.0000% | 8h | 4,356.8 | long leg | $15.8M | $3.6M | 100x | |
| SunX PAXG-USDT | 0.0000% | 4h | 4,348.3 | −0.195% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,358.5 | +0.039% | $7.9M | $866K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,355.7 | −0.026% | $911K | $646K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.218% | $1K | $151K | 30x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,355.8 | −0.024% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,353.1 | −0.086% | $1.4M | $273K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,354.2 | −0.060% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,354.8 | −0.046% | $20.4M | $1.8M | 10x | as long as short |
dYdX PAXG-USD
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
Kraken Futures PF_PAXGUSD
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXGShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PAXGUSDT | +0.0100% | 4h | 4,355.1 | −0.038% | $909K | $27K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,354.6 | −0.050% | $1.0M | $344K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,354.9 | −0.043% | $80.2M | $67.2M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,355.5 | −0.029% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,350.7 | −0.140% | $15.9M | $1.3M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,356.1 | −0.016% | $26.9M | $5.2M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,355.3 | −0.035% | $9.2M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,354.7 | −0.048% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,355 | −0.042% | $1.4M | $955K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,352.6 | −0.097% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,350.5 | −0.146% | $1.6M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,350 | −0.157% | $263K | $796K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,354.5 | −0.053% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,351 | −0.133% | $1.5M | $38K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,353.7 | −0.070% | $378K | $1.2M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0104% | 1h | 4,353.8 | −0.069% | $47K | $139K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,354.7 | −0.049% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,351.8 | −0.114% | $975K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1296% | 1h | 4,365.4 | +0.197% | $29K | $22K | 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
Extended PAXG-USD
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD