Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.025%
Price spread now: Phemex against Injective−0.398%65s7-day average −0.133% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.093%+$9 on $10k
+Price spread, last 4 days (all we have)+0.261%+$26 · spread now −0.398%, 7d avg −0.133%
=Funding pays, the price is against you. Phemex is 0.265% cheaper against Injective than usual: you would sell low and buy high (spread −0.398% now, against its 7-day average of −0.133%). If the spread goes back, that is −$26 on $10k: about 13 days of funding at the current rate (+$2 a day). The two prices were read 65 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 | 4,347.3 | 0.0033 | pay 0.0004% / 1h | 35m 40s | $1K | $151K | 30x |
| Short | Phemex PAXGUSDT | 4,330 | 0.0100 | get 0.0050% / 4h | 2h 35m | $1.5M | $33K | 50x |
Injective PAXG/USDC PERP
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $14
- Price spread: −0.398% → −0.133%
- −$26.49
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$24.51
- Costs to cover
- 0.120%
- Break-even
- 19.3 days
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 2 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 Phemex live order book, 2 min ago | 5.77 bp | 26.9 bp −$27 | doesn't fit | 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 | 4,334.2 | −0.302% | $44K | $160K | 20x | as long as short |
| Lighter PAXG | −0.0104% | 1h | 4,329.4 | −0.411% | $1.4M | $384K | 25x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0101% | 1h | 4,330 | −0.398% | $1.2M | $1.5M | 20x | as long as short |
| ApeX Omni PAXGUSDT | −0.0025% | 1h | 4,335 | −0.283% | $262K | $782K | 50x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,334.5 | −0.295% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,332 | −0.352% | $15.6M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,325.9 | −0.492% | $2K | $3.4M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,333.5 | −0.317% | $7.9M | $843K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,338 | −0.214% | $903K | $702K | 75x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0024% | 4h | 4,333.1 | −0.326% | $1.5M | $1.9M | 10x | as long as short |
Hibachi PAXG/USDT-P
Lighter PAXG
Kraken Futures PF_PAXGUSD
ApeX Omni PAXGUSDT
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
GRVT PAXG_USDT_PerpShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERPlong | +0.0033% | 1h | 4,347.3 | long leg | $1K | $151K | 30x | |
| Binance PAXGUSDT | +0.0040% | 4h | 4,331.1 | −0.372% | $79.8M | $71.2M | 75x | as long as short |
| Extended PAXG-USD | +0.0040% | 1h | 4,329.8 | −0.402% | $379K | $1.4M | 25x | as long as short |
| MEXC PAXG_USDT | +0.0040% | 4h | 4,333.5 | −0.317% | $16.1M | $1.0M | 100x | as long as short |
| Hyperliquid PAXG | +0.0070% | 1h | 4,330.7 | −0.382% | $20.7M | $2.3M | 10x | as long as short |
| Aster PAXGUSDT | +0.0072% | 4h | 4,332.9 | −0.332% | $904K | $26K | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0099% | 8h | 4,331.1 | −0.372% | $80K | $3.4M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,330.6 | −0.384% | $556 | — | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,332.3 | −0.345% | $1.0M | $348K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,331.9 | −0.354% | $14.9M | $3.9M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,333.1 | −0.326% | $28.5M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,331.3 | −0.369% | $9.7M | $15.4M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,331 | −0.374% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,330.7 | −0.382% | $1.3M | $798K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,329.7 | −0.405% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,330 | −0.398% | $1.5M | $33K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,329.4 | −0.411% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0248% | 1h | 4,347.5 | +0.006% | $956K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0784% | 1h | 4,341.2 | −0.140% | $29K | $24K | 10x | as long as short |
Binance PAXGUSDT
Extended PAXG-USD
MEXC PAXG_USDT
Hyperliquid PAXG
Aster PAXGUSDT
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD