Funding you earn now, next payment 22:00 UTC−0.0124%/8h= −13.5% APRnext payment −$0.15 per $10,000 · paid last 24h +0.010%
Price spread now: Hyperliquid against Kraken Futures−0.028%7-day average −0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$260.262% of the position
Funding, last 7 days−0.388%−$39 on $10k
+Price spread, last 3 days (all we have)−0.016%−$2 · spread now −0.028%, 7d avg −0.019%
=Together, before fees−0.405%+ Points / potential airdropHyperliquid: Season 2 · farm board−$40 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$4 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 | 4,338.2 | 0.0224 | pay 0.0028% / 1h | 31m 19s | $1.3M | $1.5M | 20x |
| Short | Hyperliquid PAXG | 4,337 | 0.0100 | get 0.0013% / 1h | 31m 19s | $20.3M | $1.9M | 10x |
Kraken Futures PF_PAXGUSD
Hyperliquid PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- −$25.98
- Price spread: −0.028% → −0.019%
- −$0.91
- Slippage, 4 orders
- −$7.16
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$53.04
- Costs to cover
- 0.262%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Hyperliquid: live order book, 12 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, 2 min ago | 0.23 bp | 5.9 bp −$6 | 8.5 bp −$85 | 39.9 bp −$3,992 | doesn't fit |
| Sell Hyperliquid live order book, 12 min ago | 0.12 bp | 4.7 bp −$5 | 7.3 bp −$73 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | −0.0101% | 1h | 4,337 | −0.028% | $1K | $121K | 30x | as long as short |
| Hibachi PAXG/USDT-P | −0.0032% | 1h | 4,337.6 | −0.014% | $41K | $156K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,339.9 | +0.039% | $101K | $18K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,339.5 | +0.030% | $15.7M | $4.2M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,334.3 | −0.090% | $2K | $4.1M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,341.3 | +0.071% | $7.9M | $837K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,342.5 | +0.098% | $907K | $658K | 75x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,335.9 | −0.053% | $1.4M | $520K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,336.7 | −0.035% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXGshort | +0.0100% | 1h | 4,337 | −0.028% | $20.3M | $1.9M | 10x |
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Lighter PAXG
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PAXGUSDT | +0.0100% | 4h | 4,337 | −0.027% | $906K | $76K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,338.1 | −0.001% | $1.0M | $352K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,336.9 | −0.030% | $79.9M | $70.0M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,337.3 | −0.021% | $14.8M | $3.7M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,338.1 | −0.002% | $15.9M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,339.5 | +0.029% | $26.7M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,338 | −0.004% | $9.2M | $14.2M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,338.1 | −0.004% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,338.2 | 0.000% | $1.4M | $1.3M | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,336.4 | −0.042% | $12.4M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,337.1 | −0.026% | $1.5M | $2.1M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,336.7 | −0.035% | $262K | $796K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,337.2 | −0.023% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,333 | −0.120% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,336.3 | −0.044% | $377K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,337.3 | −0.022% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSDlong | +0.0224% | 1h | 4,338.2 | long leg | $1.3M | $1.5M | 20x | |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,343 | +0.110% | $998K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1408% | 1h | 4,354.8 | +0.383% | $29K | $21K | 10x | as long as short |
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
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD