Funding you earn now, next payment 02:00 UTC−0.0247%/8h= −27.1% APRnext payment −$0.31 per $10,000 · paid last 24h −0.032%
Price spread now: Deribit against Kraken Futures+0.055%7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$87as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$320.316% of the position
Funding, last 7 days−0.550%−$55 on $10k
+Price spread, last 3 days (all we have)−0.045%−$5 · spread now +0.055%, 7d avg +0.032%
=The price spread pays, funding is against you. Deribit is 0.024% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.055% now, against its 7-day average of +0.032%): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 8 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PAXGUSD | 4,345.2 | 0.0247 | pay 0.0031% / 1h | 0m 25s | $1.3M | $1.4M | 20x |
| Short | Deribit PAXG_USDC-PERPETUAL | 4,347.6 | 0 | get 0.0000% / 1h | 0m 25s | $7.9M | $868K | 50x |
Kraken Futures PF_PAXGUSD
Deribit PAXG_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$51.95
- Price spread: +0.055% → +0.032%
- $2.37
- Slippage, 4 orders
- −$14.63
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$81.21
- Costs to cover
- 0.316%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Deribit: live order book, 4 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 | 0.46 bp | 6.6 bp −$7 | 8.7 bp −$87 | 34.1 bp −$3,414 | doesn't fit |
| Sell Deribit live order book, 4 min ago | 1.87 bp | 10.2 bp −$10 | 17.1 bp −$171 | 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 | 4,343.8 | −0.032% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,347 | +0.041% | $15.7M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,339.6 | −0.128% | $2K | $3.7M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALshort | 0.0000% | 1h | 4,347.6 | +0.055% | $7.9M | $868K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,348.3 | +0.072% | $904K | $643K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.048% | $1K | $151K | 30x | as long as short |
| Hibachi PAXG/USDT-P | +0.0040% | 1h | 4,346.4 | +0.026% | $42K | $156K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0062% | 4h | 4,345.8 | +0.014% | $1.5M | $2.0M | 10x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,344.5 | −0.017% | $1.4M | $306K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,344.2 | −0.024% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
Lighter PAXG
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,345.4 | +0.005% | $20.7M | $2.2M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,344.9 | −0.007% | $906K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,346.3 | +0.025% | $1.0M | $342K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,344.5 | −0.015% | $80.0M | $70.7M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,345.9 | +0.017% | $15.1M | $3.5M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,345.6 | +0.009% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,347.1 | +0.044% | $28.5M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,344.9 | −0.007% | $9.6M | $15.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,346.2 | +0.022% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,346.2 | +0.023% | $1.3M | $803K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,345.1 | −0.003% | $12.5M | $109K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,343.5 | −0.039% | $263K | $791K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,344.1 | −0.025% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,343 | −0.051% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,344 | −0.028% | $378K | $1.4M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,344.5 | −0.016% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSDlong | +0.0247% | 1h | 4,345.2 | long leg | $1.3M | $1.4M | 20x | |
| Coinbase International PAXG-PERP-INTX | +0.0312% | 1h | 4,348.8 | +0.083% | $971K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,355.9 | +0.246% | $29K | $23K | 10x | as long as short |
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD