Funding you earn now, next payment 03:00 UTC−0.0073%/8h= −8.0% APRnext payment −$0.09 per $10,000 · paid last 24h −0.004%
Price spread now: Backpack against Kraken Futures−0.005%7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$61as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$270.269% of the position
Funding, last 7 days−0.338%−$34 on $10k
+Price spread, last 4 days (all we have)−0.099%−$10 · spread now −0.005%, 7d avg −0.004%
=The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PAXGUSD | 4,341.6 | 0.0173 | pay 0.0022% / 1h | 38m 49s | $1.3M | $1.4M | 20x |
| Short | Backpack PAXG_USDC_PERP | 4,341.4 | 0.0100 | get 0.0013% / 1h | 38m 49s | $1.3M | $803K | 50x |
Kraken Futures PF_PAXGUSD
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- −$15.39
- Price spread: −0.005% → −0.004%
- −$0.13
- Slippage, 4 orders
- −$6.92
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$42.44
- Costs to cover
- 0.269%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Backpack: live order book, just now.
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 Kraken Futures live order book, 5 min ago | 0.12 bp | 6.9 bp −$7 | 10.7 bp −$107 | 36.6 bp −$3,662 | doesn't fit |
| Sell Backpack live order book, just now | 0.01 bp | 5.0 bp −$5 | 5.8 bp −$58 | 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 | 4,340.8 | −0.019% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,342.1 | +0.011% | $15.6M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,335.3 | −0.145% | $2K | $3.7M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,343.8 | +0.051% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,345.8 | +0.097% | $904K | $655K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.131% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0048% | 4h | 4,339.2 | −0.055% | $1.5M | $1.9M | 10x | as long as short |
| Hibachi PAXG/USDT-P | +0.0048% | 1h | 4,339.3 | −0.052% | $42K | $154K | 20x | as long as short |
| ApeX Omni PAXGUSDT | +0.0058% | 1h | 4,338.7 | −0.067% | $263K | $789K | 50x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,341.2 | −0.009% | $1.4M | $339K | 25x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
GRVT PAXG_USDT_Perp
Hibachi PAXG/USDT-P
ApeX Omni PAXGUSDT
Lighter PAXGShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,341.7 | +0.003% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,341.8 | +0.004% | $20.8M | $2.3M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,340 | −0.037% | $905K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,342.1 | +0.012% | $1.0M | $340K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,342.1 | +0.012% | $80.0M | $70.6M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,342.7 | +0.025% | $14.9M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.3 | +0.015% | $16.1M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,343 | +0.032% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,342 | +0.008% | $9.6M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,341.2 | −0.009% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,341.4 | −0.005% | $1.3M | $803K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,338.4 | −0.074% | $12.4M | $104K | — | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,339.4 | −0.051% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,337 | −0.106% | $1.5M | $40K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,339.4 | −0.051% | $382K | $1.4M | 25x | as long as short |
| Kraken Futures PF_PAXGUSDlong | +0.0173% | 1h | 4,341.6 | long leg | $1.3M | $1.4M | 20x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,341 | −0.014% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,349.7 | +0.186% | $971K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,350.5 | +0.205% | $29K | $23K | 10x | as long as short |
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Variational Omni PAXG
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD