Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Backpack against Phemex+0.146%7-day average +0.068% · you sell dearer than you buy
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$580.583% of the position
Funding, last 7 days0.000%$0 on $10k
+Price spread, last 3 days (all we have)−0.092%−$9 · spread now +0.146%, 7d avg +0.068%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.078% dearer against Phemex than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.068%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,342 | 0.0100 | pay 0.0050% / 4h | 1h 38m | $1.5M | $38K | 50x |
| Short | Backpack PAXG_USDC_PERP | 4,348.4 | 0.0100 | get 0.0013% / 1h | 38m 59s | $1.4M | $953K | 50x |
Phemex PAXGUSDT
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Phemex. 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
- $0
- Price spread: +0.146% → +0.068%
- $7.78
- Slippage, 4 orders
- −$36.3
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$50.52
- Costs to cover
- 0.583%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Backpack: live order book, 5 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 Phemex live order book, 4 min ago | 1.15 bp | 27.6 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 5 min ago | 0.01 bp | 5.4 bp −$5 | 7.6 bp −$76 | 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 | 4,347.3 | +0.121% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,349.4 | +0.170% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,342.3 | +0.007% | $2K | $4.0M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,352.2 | +0.234% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,349 | +0.161% | $909K | $654K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,337 | −0.115% | $1K | $121K | 30x | as long as short |
| Hibachi PAXG/USDT-P | +0.0040% | 1h | 4,347.7 | +0.131% | $47K | $142K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,349.2 | +0.165% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,346.4 | +0.102% | $1.4M | $273K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,346.1 | +0.095% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
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 | 4,347.4 | +0.124% | $20.3M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,347.1 | +0.116% | $907K | $28K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,348 | +0.138% | $1.0M | $366K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,347 | +0.114% | $80.1M | $67.6M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,348.1 | +0.140% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,345 | +0.069% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,349.3 | +0.168% | $26.8M | $5.2M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,347.7 | +0.131% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,347.6 | +0.129% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,348.4 | +0.146% | $1.4M | $953K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,345.5 | +0.079% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,347.3 | +0.122% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,345 | +0.070% | $263K | $796K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,347 | +0.115% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,342 | long leg | $1.5M | $38K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,346.2 | +0.097% | $378K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,347.6 | +0.129% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,349.1 | +0.164% | $975K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1424% | 1h | 4,364.1 | +0.509% | $29K | $21K | 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
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
01 Exchange PAXGUSD