Funding you earn now, next payment 05:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.04 per $10,000 · paid last 24h −0.005%
Price spread now: Deribit against Injective−0.208%7-day average −0.026% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.119%−$12 on $10k
+Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.208%, 7d avg −0.026%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.183% cheaper against Injective than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.026%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PAXG/USDC PERP | 4,347.3 | 0.0033 | pay 0.0004% / 1h | 31m 12s | $1K | $151K | 30x |
| Short | Deribit PAXG_USDC-PERPETUAL | 4,338.2 | 0 | get 0.0000% / 1h | 31m 12s | $7.9M | $868K | 50x |
Injective PAXG/USDC PERP
Deribit PAXG_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Injective. 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
- −$7
- Price spread: −0.208% → −0.026%
- −$18.27
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$32.29
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Deribit: live order book, 3 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 Deribit live order book, 3 min ago | 3.27 bp | 7.2 bp −$7 | 12.9 bp −$129 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0168% | 1h | 4,335.3 | −0.276% | $42K | $154K | 20x | as long as short |
| Lighter PAXG | −0.0160% | 1h | 4,333.4 | −0.321% | $1.4M | $368K | 25x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0114% | 4h | 4,335.2 | −0.279% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | −0.0077% | 1h | 4,334.3 | −0.298% | $262K | $786K | 50x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,334.8 | −0.288% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,336.7 | −0.244% | $15.6M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,329.5 | −0.409% | $1K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALshort | 0.0000% | 1h | 4,338.2 | −0.208% | $7.9M | $868K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,342.8 | −0.105% | $903K | $687K | 75x | as long as short |
| Injective PAXG/USDC PERPlong | +0.0033% | 1h | 4,347.3 | long leg | $1K | $151K | 30x |
Hibachi PAXG/USDT-P
Lighter PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended PAXG-USD | +0.0040% | 1h | 4,333.3 | −0.323% | $378K | $1.4M | 25x | as long as short |
| Binance PAXGUSDT | +0.0043% | 4h | 4,334.4 | −0.297% | $79.9M | $70.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0044% | 4h | 4,337.5 | −0.225% | $16.1M | $1.0M | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0065% | 1h | 4,335.5 | −0.272% | $1.3M | $1.4M | 20x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,335 | −0.282% | $81K | $3.6M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,334.6 | −0.292% | $556 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,334.5 | −0.294% | $20.7M | $2.3M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,334.3 | −0.299% | $904K | $27K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,337.1 | −0.235% | $1.0M | $342K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,335.7 | −0.267% | $14.9M | $3.8M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,337.7 | −0.220% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,334.5 | −0.295% | $9.7M | $15.2M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,335.7 | −0.267% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,335 | −0.284% | $1.3M | $799K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,335 | −0.283% | $12.3M | $227K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,332 | −0.352% | $1.5M | $38K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,334.6 | −0.293% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,339.5 | −0.179% | $987K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0960% | 1h | 4,345.5 | −0.041% | $29K | $24K | 10x | as long as short |
Extended PAXG-USD
Binance PAXGUSDT
MEXC PAXG_USDT
Kraken Futures PF_PAXGUSD
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD