PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0237%/8h= +26.0% APRnext payment +$0.30 per $10,000 · paid last 24h +0.044%

Price spread now: Hyperliquid against Hibachi−0.019%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on Hibachi Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.531%−$53 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.019%, 7d avg +0.005%

Together, before fees−0.483%+ Points / potential airdropHibachi: Active · Hyperliquid: Season 2 · farm board−$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.024% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.005%). If the spread goes back, that is −$2 on $10k: about 8 hours of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.531%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi PAXG/USDT-P	4,334.2	−0.0168	get 0.0021% / 1h	36m 44s	$44K	$160K	20x
Short	Hyperliquid PAXG	4,333.4	0.0069	get 0.0009% / 1h	36m 44s	$20.7M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Hibachi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HibachibpFee HyperliquidbpOrdersPrice spread, now −0.019%Rate

Funding earned: $49.82
Price spread: −0.019% → +0.005%: −$2.42
Slippage, 4 orders: −$32.41
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$3.01
Costs to cover: 0.504%
Break-even: 7.4 days

Slippage from Hibachi: live order book, 12 min ago; Hyperliquid: 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 Hibachi live order book, 12 min ago	0.02 bp	19.1 bp −$19	50.8 bp −$508	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.12 bp	9.3 bp −$9	10.7 bp −$107	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
Hibachi PAXG/USDT-Plong	−0.0168%	1h	4,334.2	long leg	$44K	$160K	20x
Kraken Futures PF_PAXGUSD	−0.0101%	1h	4,334.1	−0.002%	$1.2M	$1.5M	20x	as long as short
Lighter PAXG	−0.0096%	1h	4,331.9	−0.055%	$1.4M	$379K	25x	as long as short
ApeX Omni PAXGUSDT	−0.0025%	1h	4,335	+0.018%	$262K	$782K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,338	+0.087%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,334.6	+0.009%	$15.6M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,330	−0.098%	$1K	$3.4M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,337.5	+0.076%	$7.9M	$843K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,341.1	+0.159%	$904K	$699K	75x	as long as short
GRVT PAXG_USDT_Perp	+0.0028%	4h	4,336.6	+0.054%	$1.5M	$1.9M	10x	as long as short

Show 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	+0.302%	$1K	$151K	30x	as long as short
Extended PAXG-USD	+0.0040%	1h	4,331.6	−0.061%	$379K	$1.4M	25x	as long as short
Binance PAXGUSDT	+0.0042%	4h	4,332.6	−0.037%	$80.1M	$70.7M	75x	as long as short
MEXC PAXG_USDT	+0.0042%	4h	4,335.5	+0.029%	$16.1M	$1.0M	100x	as long as short
Hyperliquid PAXGshort	+0.0069%	1h	4,333.4	−0.019%	$20.7M	$2.3M	10x
Aster PAXGUSDT	+0.0073%	4h	4,335.3	+0.025%	$904K	$26K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0099%	8h	4,333.3	−0.022%	$81K	$3.4M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,334.7	+0.011%	$556	—	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,335.1	+0.020%	$1.0M	$348K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,334.1	−0.003%	$14.9M	$3.9M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,335.7	+0.035%	$28.5M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,333.2	−0.024%	$9.7M	$15.3M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,333.2	−0.023%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,333.3	−0.021%	$1.3M	$798K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,342.2	+0.185%	$12.3M	$222K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,330	−0.097%	$1.5M	$33K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,333.5	−0.018%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0248%	1h	4,347.5	+0.307%	$956K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0784%	1h	4,345.5	+0.260%	$29K	$24K	10x	as long as short