PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0276%/8h= +30.3% APRnext payment +$0.35 per $10,000 · paid last 24h +0.050%

Price spread now: Coinbase International against Kraken Futures+0.090%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$4 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.090%, 7d avg +0.069%

Together, before fees−0.073%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.021% dearer against Kraken Futures than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.069%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.035% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PAXGUSD	4,318.3	−0.0044	get 0.0006% / 1h	5m 53s	$1.2M	$1.9M	20x
Short	Coinbase International PAXG-PERP-INTX	4,322.2	0.0232	get 0.0029% / 1h	5m 53s	$949K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 it

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 Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now +0.090%Rate

Funding earned: $58.04
Price spread: +0.090% → +0.069%: $2.06
Slippage, 4 orders: −$9.34
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $30.76
Costs to cover: 0.293%
Break-even: 3.3 days

Slippage from Kraken Futures: live order book, 3 min ago; Coinbase International: live order book, 3 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 Kraken Futures live order book, 3 min ago	0.58 bp	7.8 bp −$8	14.0 bp −$140	37.1 bp −$3,711	doesn't fit
Sell Coinbase International live order book, 3 min ago	2.38 bp	7.4 bp −$7	14.1 bp −$141	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
Lighter PAXG	−0.0168%	1h	4,316	−0.054%	$1.4M	$468K	25x	as long as short
GRVT PAXG_USDT_Perp	−0.0106%	4h	4,319.4	+0.026%	$1.5M	$2.0M	10x	as long as short
Hibachi PAXG/USDT-P	−0.0104%	1h	4,319	+0.017%	$42K	$168K	20x	as long as short
Kraken Futures PF_PAXGUSDlong	−0.0044%	1h	4,318.3	long leg	$1.2M	$1.9M	20x
Extended PAXG-USD	−0.0008%	1h	4,316.6	−0.039%	$378K	$625K	25x	as long as short
Binance PAXGUSDT	−0.0005%	4h	4,317.7	−0.014%	$79.6M	$75.1M	75x	as long as short
MEXC PAXG_USDT	−0.0004%	4h	4,322.8	+0.104%	$16.6M	$1.1M	100x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,317.9	−0.010%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,319.8	+0.035%	$15.6M	$3.8M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,314	−0.100%	$2K	$3.3M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,322.2	+0.091%	$7.9M	$850K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,321.2	+0.068%	$902K	$776K	75x	as long as short
Aster PAXGUSDT	+0.0011%	4h	4,320	+0.039%	$901K	$27K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.672%	$1K	$151K	30x	as long as short
ApeX Omni PAXGUSDT	+0.0043%	1h	4,318.5	+0.004%	$261K	$773K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0098%	8h	4,318.5	+0.005%	$85K	$3.3M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,317.9	−0.009%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,318	−0.007%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,320.1	+0.042%	$1.0M	$316K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,318.4	+0.002%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,320.5	+0.051%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,317.3	−0.023%	$9.4M	$16.5M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,319	+0.017%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,318.2	−0.003%	$1.3M	$826K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,318.9	+0.013%	$12.3M	$223K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,319	+0.016%	$1.5M	$52K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,318.1	−0.005%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0232%	1h	4,322.2	+0.090%	$949K	$1.0M	50x
01 Exchange PAXGUSD	+0.0816%	1h	4,329	+0.248%	$29K	$23K	10x	as long as short