Funding you earn now, next payment 05:00 UTC+0.0260%/8h= +28.5% APRpaid last 24h +0.040%
Price spread now: Phemex against Hibachi−0.054%7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$136as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$870.871% of the position
Funding, last 7 days−0.488%−$49 on $10k
+Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.054%, 7d avg −0.051%
=Together, before fees−0.461%+ Points / potential airdropHibachi: Active · farm board−$46 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.051%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.488%, 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 | 4,335.4 | −0.0160 | get 0.0020% / 1h | 46m 48s | $42K | $154K | 20x |
| Short | Phemex PAXGUSDT | 4,333 | 0.0100 | get 0.0050% / 4h | 3h 46m | $1.5M | $39K | 50x |
Hibachi PAXG/USDT-P
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $54.6
- Price spread: −0.054% → −0.051%
- −$0.35
- Slippage, 4 orders
- −$66.06
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$32.81
- Costs to cover
- 0.871%
- Break-even
- 11.2 days
Slippage from Hibachi: live order book, 7 min ago; Phemex: live order book, 1 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, 7 min ago | 0.12 bp | 14.8 bp −$15 | 49.9 bp −$499 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 1 min ago | 5.77 bp | 27.7 bp −$28 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter PAXG | −0.0168% | 1h | 4,334.6 | −0.017% | $1.4M | $362K | 25x | as long as short |
| Hibachi PAXG/USDT-Plong | −0.0160% | 1h | 4,335.4 | long leg | $42K | $154K | 20x | |
| ApeX Omni PAXGUSDT | −0.0153% | 1h | 4,331.7 | −0.083% | $262K | $788K | 50x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0144% | 4h | 4,333.7 | −0.038% | $1.5M | $1.9M | 10x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,334.8 | −0.013% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,338.4 | +0.070% | $15.6M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,330.5 | −0.111% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,339.3 | +0.090% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,342.4 | +0.162% | $904K | $683K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.276% | $1K | $151K | 30x | as long as short |
Lighter PAXG
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 | 4,336.9 | +0.035% | $1.3M | $1.4M | 20x | as long as short |
| MEXC PAXG_USDT | +0.0068% | 4h | 4,338.2 | +0.066% | $16.1M | $1.0M | 100x | as long as short |
| Binance PAXGUSDT | +0.0068% | 4h | 4,335.6 | +0.005% | $80.0M | $71.1M | 75x | as long as short |
| Extended PAXG-USD | +0.0072% | 1h | 4,334.3 | −0.024% | $378K | $1.4M | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,336 | +0.015% | $81K | $3.7M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,336.1 | +0.017% | $556 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,336.1 | +0.017% | $20.7M | $2.3M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,335.9 | +0.012% | $905K | $27K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,338 | +0.060% | $1.0M | $338K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,337 | +0.038% | $14.9M | $3.8M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,338.7 | +0.077% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,336.6 | +0.030% | $9.7M | $15.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,336.8 | +0.033% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,336.7 | +0.031% | $1.3M | $800K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,334.4 | −0.022% | $12.3M | $227K | — | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,333 | −0.054% | $1.5M | $39K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,335.9 | +0.013% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,341 | +0.130% | $988K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1016% | 1h | 4,347 | +0.269% | $29K | $23K | 10x | as long as short |
Kraken Futures PF_PAXGUSD
MEXC PAXG_USDT
Binance PAXGUSDT
Extended PAXG-USD
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
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD