PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.038%

Price spread now: dYdX against Hyperliquid+0.047%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$221as in the Funding arb table

Net, price: spread back to 7d avg − costs−$195as in the Price arb table

costs, in and out, $10k−$2001.997% of the position

Long on Hyperliquid Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.047%, 7d avg −0.001%

Together, before fees−0.273%+ Points / potential airdropHyperliquid: Season 2 · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.048% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.047% now, against its 7-day average of −0.001%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PAXG	4,300.5	0.0100	pay 0.0013% / 1h	1m 42s	$20.7M	$2.4M	10x
Short	dYdX PAXG-USD	4,302.5	0	get 0.0000% / 1h	1m 42s	$100K	$12K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$21
Price spread: +0.047% → −0.001%: $4.79
Slippage, 4 orders: −$180.74
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$215.94
Costs to cover: 1.997%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; dYdX: live order book, 37 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, 11 min ago	0.12 bp	5.2 bp −$5	6.8 bp −$68	doesn't fit	doesn't fit
Sell dYdX live order book, 37 min ago	89.55 bp	94.6 bp −$95	140.9 bp −$1,409	236.9 bp −$23.7K	698.1 bp −$349.0K

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	−0.0192%	1h	4,298.9	−0.037%	$1.4M	$608K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0160%	1h	4,303.3	+0.064%	$42K	$171K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0122%	4h	4,304.5	+0.093%	$1.5M	$2.0M	10x	as long as short
Kraken Futures PF_PAXGUSD	−0.0055%	1h	4,301	+0.012%	$1.2M	$1.7M	20x	as long as short
dYdX PAXG-USDshort	0.0000%	1h	4,302.5	+0.047%	$100K	$12K	5x
Gate PAXG_USDT	0.0000%	8h	4,302.5	+0.047%	$15.5M	$3.9M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,296.5	−0.093%	$2K	$3.2M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,305.5	+0.116%	$7.9M	$599K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,308	+0.175%	$903K	$802K	75x	as long as short
MEXC PAXG_USDT	+0.0022%	4h	4,306.6	+0.143%	$16.6M	$1.2M	100x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PAXGUSDT	+0.0023%	4h	4,301	+0.011%	$80.0M	$78.4M	75x	as long as short
Extended PAXG-USD	+0.0024%	1h	4,300.1	−0.009%	$377K	$1.6M	25x	as long as short
ApeX Omni PAXGUSDT	+0.0027%	1h	4,304	+0.081%	$261K	$773K	50x	as long as short
Aster PAXGUSDT	+0.0029%	4h	4,301.1	+0.013%	$897K	$29K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+1.088%	$1K	$151K	30x	as long as short
Bitget PAXGUSDT	+0.0036%	4h	4,300.6	+0.003%	$9.5M	$16.0M	50x	as long as short
Paradex PAXG-USD-PERP	+0.0097%	8h	4,301.5	+0.022%	$85K	$4.1M	50x	as long as short
Hyperliquid PAXGlong	+0.0100%	1h	4,300.5	long leg	$20.7M	$2.4M	10x
Pacifica PAXG	+0.0100%	1h	4,302.4	+0.044%	$1.0M	$302K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,301.4	+0.021%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,302.9	+0.056%	$28.5M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,301.9	+0.033%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,301.5	+0.023%	$1.2M	$844K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,303.7	+0.074%	$12.2M	$219K	—	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,301.4	+0.021%	$552	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,301	+0.012%	$1.5M	$66K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,300.4	−0.002%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0224%	1h	4,308	+0.175%	$946K	$1.0M	50x	as long as short
01 Exchange PAXGUSD	+0.0904%	1h	4,312.2	+0.272%	$29K	$23K	10x	as long as short