PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.023%

Price spread now: Backpack against Injective+0.165%72s7-day average −0.075% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 3 days (all we have)−0.273%−$27 · spread now +0.165%, 7d avg −0.075%

Together, before fees−0.201%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.240% dearer against Injective than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of −0.075%. The two prices were read 72 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	Injective PAXG/USDC PERP	4,337	0.0033	pay 0.0004% / 1h	54m 03s	$1K	$121K	30x
Short	Backpack PAXG_USDC_PERP	4,344.2	0.0100	get 0.0013% / 1h	54m 03s	$1.4M	$955K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BackpackbpOrdersPrice spread, now +0.165%Rate

Funding earned: $14
Price spread: +0.165% → −0.075%: $24.01
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: $27.99
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Backpack: live order book, 5 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, 5 min ago	0.01 bp	5.0 bp −$5	7.3 bp −$73	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4,340	+0.070%	$101K	$13K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,345.5	+0.196%	$15.8M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,338.5	+0.034%	$2K	$4.0M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,346.6	+0.222%	$7.9M	$865K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,345.9	+0.206%	$909K	$656K	75x	as long as short
Hibachi PAXG/USDT-P	+0.0008%	1h	4,343.5	+0.151%	$47K	$148K	20x	as long as short
Injective PAXG/USDC PERPlong	+0.0033%	1h	4,337	long leg	$1K	$121K	30x
Kraken Futures PF_PAXGUSD	+0.0080%	1h	4,344.3	+0.168%	$1.3M	$1.4M	20x	as long as short
Lighter PAXG	+0.0096%	1h	4,342.2	+0.120%	$1.4M	$273K	25x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,343.6	+0.152%	$80K	$3.7M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PAXG	+0.0100%	1h	4,343.3	+0.145%	$20.3M	$1.8M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,343.7	+0.155%	$907K	$28K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,344.9	+0.182%	$1.0M	$373K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,342.8	+0.133%	$80.0M	$68.6M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,344.4	+0.171%	$15.2M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,342.3	+0.122%	$15.9M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,345.6	+0.197%	$26.8M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,342.6	+0.130%	$9.2M	$13.3M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,343.9	+0.159%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERPshort	+0.0100%	1h	4,344.2	+0.165%	$1.4M	$955K	50x
Variational Omni PAXG	+0.0100%	4h	4,343.3	+0.145%	$12.5M	$114K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,343.4	+0.147%	$1.5M	$2.1M	10x	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,342.7	+0.131%	$263K	$798K	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,343	+0.138%	$557	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,340	+0.069%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,342.4	+0.125%	$377K	$1.2M	25x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,342.8	+0.135%	$21K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,347.6	+0.245%	$976K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1464%	1h	4,360.6	+0.544%	$29K	$21K	10x	as long as short