Funding you earn now, next payment 00:00 UTC−0.0128%/8h= −14.0% APRnext payment −$0.16 per $10,000 · paid last 24h +0.011%
Price spread now: Deribit against Hibachi+0.085%50s7-day average +0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs−$123as 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−$530.534% of the position
Funding, last 7 days−0.698%−$70 on $10k
+Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.085%, 7d avg +0.055%
=Together, before fees−0.704%+ Points / potential airdropHibachi: Active · farm board−$70 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.030% dearer against Hibachi than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of +0.055%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.698% in total) that is about 7 hours. The two prices were read 50 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 | Hibachi PAXG/USDT-P | 4,360.1 | 0.0128 | pay 0.0016% / 1h | 21m 25s | $48K | $143K | 20x |
| Short | Deribit PAXG_USDC-PERPETUAL | 4,363.8 | 0 | get 0.0000% / 1h | 21m 25s | $7.9M | $866K | 50x |
Hibachi PAXG/USDT-P
Deribit PAXG_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Hibachi. 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
- −$26.88
- Price spread: +0.085% → +0.055%
- $2.98
- Slippage, 4 orders
- −$37.38
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$77.28
- Costs to cover
- 0.534%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 57 min ago; Deribit: live order book, 3 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 Hibachi live order book, 57 min ago | 0.14 bp | 19.2 bp −$19 | 52.1 bp −$521 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 3 min ago | 2.24 bp | 10.8 bp −$11 | 16.0 bp −$160 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | −0.0007% | 1h | 4,347.3 | −0.294% | $1K | $151K | 30x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,358.3 | −0.041% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,361.6 | +0.034% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,357 | −0.070% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALshort | 0.0000% | 1h | 4,363.8 | +0.085% | $7.9M | $866K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,362.2 | +0.047% | $910K | $646K | 75x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,358.5 | −0.037% | $1.4M | $270K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,359 | −0.025% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,358.8 | −0.030% | $20.4M | $1.9M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,360.5 | +0.008% | $910K | $30K | 50x | as long as short |
Injective PAXG/USDC PERP
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Aster PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PAXG | +0.0100% | 1h | 4,361.1 | +0.023% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,359.3 | −0.019% | $80.1M | $69.3M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,359.3 | −0.018% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,357.6 | −0.057% | $16.1M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,361.6 | +0.033% | $27.3M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,359.2 | −0.022% | $9.8M | $14.4M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,360.3 | +0.005% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,361.2 | +0.025% | $1.4M | $972K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,355.4 | −0.107% | $12.5M | $102K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,357.3 | −0.064% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,356.1 | −0.092% | $263K | $795K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,358.5 | −0.037% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,358 | −0.048% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,359.5 | −0.014% | $378K | $1.2M | 25x | as long as short |
| Hibachi PAXG/USDT-Plong | +0.0128% | 1h | 4,360.1 | long leg | $48K | $143K | 20x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,358.8 | −0.030% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0286% | 1h | 4,361.5 | +0.032% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,361.7 | +0.036% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0976% | 1h | 4,370.7 | +0.243% | $29K | $23K | 10x | as long as short |
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
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD