PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0128%/8h= −14.0% APRnext payment −$0.16 per $10,000 · paid last 24h −0.034%

Price spread now: Hibachi against Lighter+0.033%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Lighter Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.504%+$50 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now +0.033%, 7d avg +0.012%

Together, before fees+0.478%+ Points / potential airdropLighter: Season 3 · Hibachi: Active · farm board+$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.021% dearer against Lighter than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of +0.012%): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 7 days funding on this pair paid +0.504%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PAXG	4,341.8	0	get 0.0000% / 1h	17m 11s	$1.4M	$357K	25x
Short	Hibachi PAXG/USDT-P	4,343.2	−0.0128	pay 0.0016% / 1h	17m 11s	$42K	$155K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now +0.033%Rate

Funding earned: −$26.88
Price spread: +0.033% → +0.012%: $2.08
Slippage, 4 orders: −$25.84
Fee Lighter: 0 bp × 2 orders: $0
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$59.64
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Hibachi: live order book, 42 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, 4 min ago	0.66 bp	0.8 bp −$1	2.7 bp −$27	17.0 bp −$1,701	doesn't fit
Sell Hibachi live order book, 42 min ago	0.10 bp	17.2 bp −$17	52.7 bp −$527	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-Pshort	−0.0128%	1h	4,343.2	+0.033%	$42K	$155K	20x
Lighter PAXGlong	0.0000%	1h	4,341.8	long leg	$1.4M	$357K	25x
dYdX PAXG-USD	0.0000%	1h	4,345.5	+0.085%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,344.7	+0.067%	$15.6M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,338.8	−0.069%	$2K	$3.6M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,345.9	+0.096%	$7.9M	$868K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,348.5	+0.155%	$907K	$683K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.127%	$1K	$151K	30x	as long as short
GRVT PAXG_USDT_Perp	+0.0078%	4h	4,344.9	+0.071%	$1.5M	$1.9M	10x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,342.1	+0.007%	$81K	$3.7M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,342.5	+0.016%	$557	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,343.6	+0.041%	$20.8M	$2.4M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,343.2	+0.032%	$906K	$28K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,344.3	+0.058%	$1.0M	$340K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,342.6	+0.018%	$80.1M	$70.7M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,343.2	+0.032%	$14.9M	$3.8M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,343.3	+0.033%	$16.1M	$1.1M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,345.7	+0.090%	$28.6M	$5.4M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,344.1	+0.053%	$9.7M	$14.9M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,343.6	+0.040%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,343.7	+0.043%	$1.3M	$804K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,343	+0.029%	$12.5M	$97K	—	as long as short
ApeX Omni PAXGUSDT	+0.0100%	1h	4,343.8	+0.046%	$263K	$788K	50x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,343	+0.028%	$1.5M	$39K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,341.2	−0.014%	$379K	$1.5M	25x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,342.3	+0.012%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0210%	1h	4,343.1	+0.030%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0320%	1h	4,348.9	+0.164%	$968K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0856%	1h	4,353.6	+0.272%	$29K	$23K	10x	as long as short