Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.002%
Price spread now: Lighter against Hyperliquid−0.033%7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$140.138% of the position
Funding, last 7 days+0.038%+$4 on $10k
+Price spread, last 7 days+0.086%+$9 · spread now −0.033%, 7d avg −0.001%
=Together, before fees+0.124%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.032% cheaper against Hyperliquid than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PAXG | 4,356 | 0.0100 | pay 0.0013% / 1h | 28m 41s | $20.4M | $1.9M | 10x |
| Short | Lighter PAXG | 4,354.6 | 0.0096 | get 0.0012% / 1h | 28m 41s | $1.4M | $270K | 25x |
Hyperliquid PAXG
Lighter PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Hyperliquid. 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
- −$0.84
- Price spread: −0.033% → −0.001%
- −$3.22
- Slippage, 4 orders
- −$4.76
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$17.82
- Costs to cover
- 0.138%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago | 0.12 bp | 5.9 bp −$6 | 7.4 bp −$74 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 1.16 bp | 1.3 bp −$1 | 3.9 bp −$39 | 18.3 bp −$1,830 | 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 | −0.0007% | 1h | 4,347.3 | −0.200% | $1K | $151K | 30x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,358.3 | +0.053% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,357.7 | +0.039% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,351.6 | −0.101% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,359.6 | +0.083% | $7.9M | $866K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,360.1 | +0.093% | $910K | $639K | 75x | as long as short |
| Lighter PAXGshort | +0.0096% | 1h | 4,354.6 | −0.033% | $1.4M | $270K | 25x | |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,355.1 | −0.020% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXGlong | +0.0100% | 1h | 4,356 | long leg | $20.4M | $1.9M | 10x | |
| Aster PAXGUSDT | +0.0100% | 4h | 4,356.9 | +0.020% | $909K | $30K | 50x | as long as short |
Injective PAXG/USDC PERP
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Paradex PAXG-USD-PERP
Aster PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PAXG | +0.0100% | 1h | 4,356.9 | +0.021% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,355.9 | −0.003% | $79.9M | $68.8M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,357 | +0.024% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,356 | +0.001% | $16.1M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,357.9 | +0.043% | $27.3M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,356.5 | +0.011% | $9.9M | $14.2M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,356.6 | +0.013% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,357.4 | +0.031% | $1.4M | $971K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,356.4 | +0.010% | $12.5M | $102K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,355 | −0.023% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,352.9 | −0.070% | $263K | $794K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,355.5 | −0.011% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,353 | −0.069% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,354.9 | −0.026% | $378K | $1.2M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0152% | 1h | 4,355.9 | −0.003% | $48K | $141K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,356.4 | +0.008% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0286% | 1h | 4,357.4 | +0.033% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,361.4 | +0.125% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0992% | 1h | 4,367 | +0.253% | $29K | $23K | 10x | as long as short |
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD