PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0104%/8h= +11.4% APRnext payment +$0.13 per $10,000 · paid last 24h −0.023%

Price spread now: Deribit against Lighter+0.117%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.193%−$19 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.117%, 7d avg +0.069%

Together, before fees−0.213%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.048% dearer against Lighter than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.069%. Mind the row above: over the last 7 days funding on this pair cost −0.193%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PAXG	4,328.5	−0.0104	get 0.0013% / 1h	36m 14s	$1.4M	$384K	25x
Short	Deribit PAXG_USDC-PERPETUAL	4,333.5	0	get 0.0000% / 1h	36m 14s	$7.9M	$843K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now +0.117%Rate

Funding earned: $21.84
Price spread: +0.117% → +0.069%: $4.75
Slippage, 4 orders: −$11.65
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $7.95
Costs to cover: 0.186%
Break-even: 4.5 days

Slippage from Lighter: live order book, 5 min ago; Deribit: 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 Lighter live order book, 5 min ago	0.80 bp	0.9 bp −$1	2.3 bp −$23	20.5 bp −$2,052	doesn't fit
Sell Deribit live order book, 3 min ago	2.36 bp	10.8 bp −$11	17.7 bp −$177	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
Hibachi PAXG/USDT-P	−0.0168%	1h	4,334.2	+0.131%	$44K	$160K	20x	as long as short
Lighter PAXGlong	−0.0104%	1h	4,328.5	long leg	$1.4M	$384K	25x
Kraken Futures PF_PAXGUSD	−0.0101%	1h	4,330	+0.035%	$1.2M	$1.5M	20x	as long as short
ApeX Omni PAXGUSDT	−0.0025%	1h	4,335	+0.150%	$262K	$782K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,338	+0.220%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,331.6	+0.072%	$15.6M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,325.9	−0.060%	$2K	$3.4M	20x	as long as short
Deribit PAXG_USDC-PERPETUALshort	0.0000%	1h	4,333.5	+0.117%	$7.9M	$843K	50x
HTX PAXG-USDT	0.0000%	4h	4,338	+0.219%	$903K	$702K	75x	as long as short
GRVT PAXG_USDT_Perp	+0.0028%	4h	4,336.6	+0.186%	$1.5M	$1.9M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.435%	$1K	$151K	30x	as long as short
Extended PAXG-USD	+0.0040%	1h	4,328.5	+0.001%	$379K	$1.4M	25x	as long as short
Binance PAXGUSDT	+0.0042%	4h	4,329.9	+0.033%	$80.0M	$71.2M	75x	as long as short
MEXC PAXG_USDT	+0.0042%	4h	4,333.6	+0.118%	$16.1M	$1.0M	100x	as long as short
Hyperliquid PAXG	+0.0069%	1h	4,330.5	+0.046%	$20.7M	$2.3M	10x	as long as short
Aster PAXGUSDT	+0.0073%	4h	4,332.5	+0.092%	$904K	$26K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0099%	8h	4,333.3	+0.110%	$81K	$3.4M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,330.6	+0.049%	$556	—	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,335.1	+0.153%	$1.0M	$348K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,330.4	+0.044%	$14.9M	$3.9M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,332.4	+0.090%	$28.5M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,330.8	+0.054%	$9.7M	$15.4M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,331	+0.058%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,330.7	+0.051%	$1.3M	$798K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,342.2	+0.318%	$12.3M	$222K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,330	+0.035%	$1.5M	$33K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,329.4	+0.022%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0248%	1h	4,347.5	+0.440%	$956K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0784%	1h	4,344	+0.358%	$29K	$24K	10x	as long as short