Funding you earn now, next payment 05:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h +0.036%
Price spread now: Lighter against Hibachi−0.036%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$350.350% of the position
Funding, last 7 days−0.502%−$50 on $10k
+Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.036%, 7d avg −0.013%
=Together, before fees−0.474%+ Points / potential airdropHibachi: Active · Lighter: Season 3 · farm board−$47 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.023% cheaper against Hibachi than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.013%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi PAXG/USDT-P | 4,335.6 | −0.0152 | get 0.0019% / 1h | 48m 16s | $42K | $154K | 20x |
| Short | Lighter PAXG | 4,334 | −0.0192 | pay 0.0024% / 1h | 48m 16s | $1.4M | $362K | 25x |
Hibachi PAXG/USDT-P
Lighter PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$8.4
- Price spread: −0.036% → −0.013%
- −$2.31
- Slippage, 4 orders
- −$26.01
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$45.73
- Costs to cover
- 0.350%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 6 min ago; Lighter: 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, 6 min ago | 0.12 bp | 14.8 bp −$15 | 49.9 bp −$499 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 1.09 bp | 1.3 bp −$1 | 6.3 bp −$63 | 21.9 bp −$2,185 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni PAXGUSDT | −0.0232% | 1h | 4,332.1 | −0.080% | $262K | $788K | 50x | as long as short |
| Lighter PAXGshort | −0.0192% | 1h | 4,334 | −0.036% | $1.4M | $362K | 25x | |
| GRVT PAXG_USDT_Perp | −0.0172% | 4h | 4,334.2 | −0.030% | $1.5M | $1.9M | 10x | as long as short |
| Hibachi PAXG/USDT-Plong | −0.0152% | 1h | 4,335.6 | long leg | $42K | $154K | 20x | |
| dYdX PAXG-USD | 0.0000% | 1h | 4,334.8 | −0.018% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,337.3 | +0.040% | $15.6M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,330 | −0.128% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,338.8 | +0.074% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,341.9 | +0.147% | $904K | $683K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.271% | $1K | $151K | 30x | as long as short |
ApeX Omni PAXGUSDT
GRVT PAXG_USDT_Perp
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PAXGUSD | +0.0065% | 1h | 4,336.3 | +0.017% | $1.3M | $1.4M | 20x | as long as short |
| Binance PAXGUSDT | +0.0070% | 4h | 4,335.2 | −0.008% | $80.0M | $71.2M | 75x | as long as short |
| Extended PAXG-USD | +0.0072% | 1h | 4,334 | −0.035% | $378K | $1.4M | 25x | as long as short |
| MEXC PAXG_USDT | +0.0072% | 4h | 4,337.6 | +0.047% | $16.1M | $1.0M | 100x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,335.3 | −0.005% | $81K | $3.7M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,335.5 | −0.001% | $556 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,336.3 | +0.017% | $20.7M | $2.3M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,334.6 | −0.023% | $904K | $27K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,336.8 | +0.029% | $1.0M | $338K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,336 | +0.010% | $14.9M | $3.8M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,337.3 | +0.040% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,337.1 | +0.037% | $9.7M | $15.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,336.8 | +0.029% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,336.8 | +0.028% | $1.3M | $801K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,334.4 | −0.027% | $12.3M | $227K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,333 | −0.059% | $1.5M | $39K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,335.3 | −0.006% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,341 | +0.126% | $988K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1024% | 1h | 4,344.9 | +0.216% | $29K | $23K | 10x | as long as short |
Kraken Futures PF_PAXGUSD
Binance PAXGUSDT
Extended PAXG-USD
MEXC PAXG_USDT
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Aster PAXGUSDT
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