PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0220%/8h= +24.1% APRnext payment +$0.28 per $10,000 · paid last 24h +0.052%

Price spread now: Coinbase International against Hyperliquid+0.059%49s7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as 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−$340.341% of the position

Long on Hyperliquid Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.316%+$32 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now +0.059%, 7d avg +0.082%

Together, before fees+0.408%+ Points / potential airdropHyperliquid: Season 2 · farm board+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.024% cheaper against Hyperliquid than usual: you would sell low and buy high (spread +0.059% now, against its 7-day average of +0.082%). If the spread goes back, that is −$2 on $10k: about 9 hours of funding at the current rate (+$7 a day). The two prices were read 49 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	Hyperliquid PAXG	4,339.1	0.0100	pay 0.0013% / 1h	53m 21s	$20.3M	$1.9M	10x
Short	Coinbase International PAXG-PERP-INTX	4,341.6	0.0320	get 0.0040% / 1h	53m 21s	$998K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Hyperliquid. 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 HyperliquidbpFee Coinbase InternationalbpOrdersPrice spread, now +0.059%Rate

Funding earned: $46.2
Price spread: +0.059% → +0.082%: −$2.36
Slippage, 4 orders: −$15.09
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $9.75
Costs to cover: 0.341%
Break-even: 5.5 days

Slippage from Hyperliquid: live order book, 10 min ago; Coinbase International: live order book, 5 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 Hyperliquid live order book, 10 min ago	0.12 bp	4.8 bp −$5	7.1 bp −$71	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	1.99 bp	15.2 bp −$15	27.0 bp −$270	196.2 bp −$19.6K	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	−0.0101%	1h	4,337	−0.048%	$1K	$121K	30x	as long as short
Hibachi PAXG/USDT-P	−0.0032%	1h	4,339.1	+0.001%	$41K	$156K	20x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,339.9	+0.018%	$101K	$18K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,341.1	+0.046%	$15.8M	$4.2M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,334.8	−0.099%	$2K	$4.1M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,343.5	+0.100%	$7.9M	$837K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,342.8	+0.084%	$907K	$661K	75x	as long as short
Lighter PAXG	+0.0096%	1h	4,337.7	−0.033%	$1.4M	$520K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,338.6	−0.012%	$80K	$3.7M	50x	as long as short
Hyperliquid PAXGlong	+0.0100%	1h	4,339.1	long leg	$20.3M	$1.9M	10x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PAXGUSDT	+0.0100%	4h	4,338.7	−0.008%	$906K	$76K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,339.9	+0.017%	$1.0M	$354K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,338.5	−0.014%	$79.9M	$70.0M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,339.1	−0.001%	$14.8M	$3.7M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,339.8	+0.017%	$15.9M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,341.1	+0.045%	$26.8M	$5.4M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,339.4	+0.007%	$9.2M	$14.4M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,338.9	−0.005%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,340.3	+0.027%	$1.4M	$1.3M	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,339	−0.002%	$12.4M	$114K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,339.3	+0.006%	$1.5M	$2.1M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,337.3	−0.042%	$262K	$797K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,338.2	−0.021%	$557	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,336	−0.071%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,338.1	−0.024%	$377K	$1.2M	25x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,339.2	+0.002%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0224%	1h	4,339.4	+0.008%	$1.3M	$1.5M	20x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0320%	1h	4,341.6	+0.059%	$998K	$1.1M	50x
01 Exchange PAXGUSD	+0.1384%	1h	4,355.7	+0.383%	$29K	$21K	10x	as long as short