Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.019%
Price spread now: Backpack against HTX−0.068%52s7-day average −0.132% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as 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−$470.474% of the position
Funding, last 7 days+0.076%+$8 on $10k
+Price spread, last 3 days (all we have)−0.067%−$7 · spread now −0.068%, 7d avg −0.132%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.063% dearer against HTX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.132%. The two prices were read 52 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 | HTX PAXG-USDT | 4,354.8 | 0 | get 0.0000% / 4h | 2h 31m | $906K | $635K | 75x |
| Short | Backpack PAXG_USDC_PERP | 4,351.8 | 0.0100 | get 0.0013% / 1h | 31m 14s | $1.4M | $799K | 50x |
HTX PAXG-USDT
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against HTX. 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: −0.068% → −0.132%
- $6.32
- Slippage, 4 orders
- −$25.4
- Fee HTX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$20.09
- Costs to cover
- 0.474%
- Break-even
- 13.7 days
Slippage from HTX: live order book, 37 min ago; Backpack: 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 HTX live order book, 37 min ago | 0.84 bp | 23.7 bp −$24 | 26.5 bp −$265 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.01 bp | 8.0 bp −$8 | 9.0 bp −$90 | 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 | 4,351.5 | −0.076% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,353 | −0.042% | $15.7M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,345.5 | −0.213% | $2K | $3.8M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,354.1 | −0.016% | $7.9M | $873K | 50x | as long as short |
| HTX PAXG-USDTlong | 0.0000% | 4h | 4,354.8 | long leg | $906K | $635K | 75x | |
| Hibachi PAXG/USDT-P | +0.0032% | 1h | 4,351.3 | −0.081% | $42K | $160K | 20x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.173% | $1K | $151K | 30x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,350.5 | −0.099% | $1.4M | $304K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,350.1 | −0.109% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,350.7 | −0.094% | $20.7M | $2.1M | 10x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
Hibachi PAXG/USDT-P
Injective PAXG/USDC PERP
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 | 4,351 | −0.087% | $908K | $29K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,351.9 | −0.067% | $1.0M | $366K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,350.8 | −0.092% | $80.2M | $70.7M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,352.3 | −0.059% | $15.2M | $3.5M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,350.6 | −0.096% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,353.3 | −0.034% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,351.1 | −0.086% | $9.6M | $15.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,351.6 | −0.074% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,351.8 | −0.068% | $1.4M | $799K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,351.2 | −0.084% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,350.8 | −0.092% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,351.9 | −0.067% | $263K | $788K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,351.7 | −0.072% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,349 | −0.134% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,349.5 | −0.122% | $380K | $1.4M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,351.1 | −0.086% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0247% | 1h | 4,351.7 | −0.072% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0312% | 1h | 4,356.3 | +0.034% | $972K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,361.6 | +0.156% | $29K | $23K | 10x | as long as short |
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
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