Funding you earn now, next payment 11:00 UTC−0.0087%/8h= −9.5% APRpaid last 24h −0.003%
Price spread now: Phemex against Kraken Futures−0.178%7-day average −0.074% · you buy dearer than you sell
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$690.690% of the position
Funding, last 7 days−0.312%−$31 on $10k
+Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.178%, 7d avg −0.074%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.104% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.074%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PAXGUSD | 4,336.7 | 0.0187 | pay 0.0023% / 1h | 51m 47s | $1.2M | $2.1M | 20x |
| Short | Phemex PAXGUSDT | 4,329 | 0.0100 | get 0.0050% / 4h | 1h 51m | $1.5M | $82K | 50x |
Kraken Futures PF_PAXGUSD
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$18.22
- Price spread: −0.178% → −0.074%
- −$10.44
- Slippage, 4 orders
- −$47.04
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$97.69
- Costs to cover
- 0.690%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Phemex: 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, 5 min ago | 0.46 bp | 7.2 bp −$7 | 13.7 bp −$137 | 37.6 bp −$3,759 | doesn't fit |
| Sell Phemex live order book, 4 min ago | 1.15 bp | 23.0 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
PAXG on 29 exchanges
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 | −0.0906% | 1h | 4,332.7 | −0.092% | $117K | $16K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,336.2 | −0.012% | $15.7M | $4.0M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,332.1 | −0.107% | $2K | $2.8M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,338.4 | +0.039% | $7.9M | $180K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,339.3 | +0.059% | $913K | $823K | 75x | as long as short |
| Lighter PAXG | +0.0032% | 1h | 4,332.8 | −0.091% | $1.4M | $499K | 25x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.244% | $1K | $151K | 30x | as long as short |
| Paradex PAXG-USD-PERP | +0.0098% | 8h | 4,333.3 | −0.080% | $80K | $4.3M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,334 | −0.063% | $21.3M | $2.5M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,334.9 | −0.041% | $907K | $41K | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Lighter PAXG
Injective PAXG/USDC PERP
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Aster PAXGUSDTShow all 29 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PAXG | +0.0100% | 1h | 4,335.4 | −0.030% | $1.0M | $303K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,334.8 | −0.045% | $80.3M | $81.7M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,334.9 | −0.041% | $14.9M | $4.7M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,336.6 | −0.003% | $16.6M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,337.4 | +0.015% | $28.9M | $5.9M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,334.7 | −0.046% | $9.2M | $16.8M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,335.1 | −0.037% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,334.9 | −0.042% | $1.2M | $872K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,332.7 | −0.092% | $12.2M | $279K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,336.2 | −0.012% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,335 | −0.039% | $262K | $798K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,334.1 | −0.060% | $556 | — | 10x | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,329 | −0.178% | $1.5M | $82K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,333.6 | −0.072% | $374K | $1.5M | 25x | as long as short |
| Kraken Futures PF_PAXGUSDlong | +0.0187% | 1h | 4,336.7 | long leg | $1.2M | $2.1M | 20x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,334 | −0.062% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0264% | 1h | 4,332.6 | −0.096% | $934K | $1.1M | 50x | as long as short |
| Hibachi PAXG/USDT-P | +0.0320% | 1h | 4,334.3 | −0.055% | $43K | $181K | 20x | as long as short |
| 01 Exchange PAXGUSD | +0.0960% | 1h | 4,344.2 | +0.173% | $29K | $23K | 10x | as long as short |
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
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
Hibachi PAXG/USDT-P
01 Exchange PAXGUSD