Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Phemex against Hyperliquid−0.123%7-day average −0.053% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$580.579% of the position
Funding, last 7 days+0.050%+$5 on $10k
+Price spread, last 3 days (all we have)+0.068%+$7 · spread now −0.123%, 7d avg −0.053%
=Together, before fees+0.118%+ Points / potential airdropHyperliquid: Season 2 · 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: Phemex is 0.069% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.053%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PAXG | 4,345.3 | 0.0100 | pay 0.0013% / 1h | 43m 01s | $20.3M | $1.8M | 10x |
| Short | Phemex PAXGUSDT | 4,340 | 0.0100 | get 0.0050% / 4h | 1h 43m | $1.5M | $38K | 50x |
Hyperliquid PAXG
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- Price spread: −0.123% → −0.053%
- −$6.93
- Slippage, 4 orders
- −$36.93
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$64.87
- Costs to cover
- 0.579%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 10 min ago; Phemex: 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 | 5.4 bp −$5 | 6.7 bp −$67 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 1.15 bp | 20.1 bp −$20 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,343.7 | −0.037% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,347.6 | +0.052% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,340 | −0.122% | $2K | $4.0M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,349.2 | +0.089% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,347.7 | +0.053% | $909K | $655K | 75x | as long as short |
| Hibachi PAXG/USDT-P | +0.0032% | 1h | 4,346 | +0.016% | $47K | $142K | 20x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,337 | −0.192% | $1K | $121K | 30x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,346.7 | +0.031% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,344.6 | −0.018% | $1.4M | $273K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,344.9 | −0.009% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Hibachi PAXG/USDT-P
Injective PAXG/USDC PERP
Kraken Futures PF_PAXGUSD
Lighter PAXG
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXGlong | +0.0100% | 1h | 4,345.3 | long leg | $20.3M | $1.8M | 10x | |
| Aster PAXGUSDT | +0.0100% | 4h | 4,345.5 | +0.003% | $907K | $28K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,346.6 | +0.029% | $1.0M | $368K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,344.9 | −0.010% | $80.0M | $67.7M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,345.6 | +0.006% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.4 | −0.067% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,347.4 | +0.048% | $26.8M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,345.9 | +0.012% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,345.5 | +0.003% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,346.3 | +0.021% | $1.4M | $952K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,345.3 | 0.000% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,346 | +0.016% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,344.4 | −0.021% | $263K | $796K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,345.1 | −0.005% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,340 | −0.123% | $1.5M | $38K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,344.1 | −0.027% | $378K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,345.2 | −0.002% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,347.6 | +0.052% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1424% | 1h | 4,363.5 | +0.418% | $29K | $21K | 10x | as long as short |
Aster PAXGUSDT
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
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD