Funding you earn now, next payment 08:00 UTC−0.0107%/8h= −11.7% APRnext payment −$0.54 per $10,000 · paid last 24h 0.000%
Price spread now: Binance against Phemex+0.062%7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$580.577% of the position
Funding, last 7 days−0.058%−$6 on $10k
+Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.062%, 7d avg +0.036%
=The price spread pays, funding is against you. Binance is 0.026% dearer against Phemex than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of +0.036%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.058% in total) that is about 3.1 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,316 | 0.0100 | pay 0.0050% / 4h | 1h 33m | $1.5M | $52K | 50x |
| Short | Binance PAXGUSDT | 4,318.7 | −0.0007 | pay 0.0004% / 4h | 1h 33m | $79.6M | $74.8M | 75x |
Phemex PAXGUSDT
Binance PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$22.48
- Price spread: +0.062% → +0.036%
- $2.59
- Slippage, 4 orders
- −$35.75
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$77.63
- Costs to cover
- 0.577%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Binance: live order book, 9 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 | 2.32 bp | 21.0 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 9 min ago | 0.01 bp | 5.0 bp −$5 | 5.8 bp −$58 | 9.3 bp −$929 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter PAXG | −0.0192% | 1h | 4,316.4 | +0.010% | $1.4M | $465K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0160% | 1h | 4,317.7 | +0.039% | $44K | $168K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0120% | 4h | 4,316.8 | +0.018% | $1.5M | $2.0M | 10x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0044% | 1h | 4,318 | +0.046% | $1.2M | $1.9M | 20x | as long as short |
| ApeX Omni PAXGUSDT | −0.0034% | 1h | 4,315.6 | −0.010% | $261K | $771K | 50x | as long as short |
| Extended PAXG-USD | −0.0008% | 1h | 4,317.6 | +0.036% | $378K | $629K | 25x | as long as short |
| Binance PAXGUSDTshort | −0.0007% | 4h | 4,318.7 | +0.062% | $79.6M | $74.8M | 75x | |
| MEXC PAXG_USDT | −0.0006% | 4h | 4,322.7 | +0.155% | $16.5M | $1.0M | 100x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,317.9 | +0.044% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,319.3 | +0.076% | $15.6M | $3.8M | 100x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
Kraken Futures PF_PAXGUSD
ApeX Omni PAXGUSDT
Extended PAXG-USD
MEXC PAXG_USDT
dYdX PAXG-USD
Gate PAXG_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX PAXG-USDT | 0.0000% | 4h | 4,313.4 | −0.060% | $2K | $3.4M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,321.4 | +0.126% | $7.9M | $851K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,320.1 | +0.095% | $904K | $770K | 75x | as long as short |
| Aster PAXGUSDT | +0.0012% | 4h | 4,319.5 | +0.082% | $901K | $27K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.725% | $1K | $151K | 30x | as long as short |
| Paradex PAXG-USD-PERP | +0.0098% | 8h | 4,317.9 | +0.043% | $85K | $3.2M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,316 | 0.000% | $554 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,318.5 | +0.058% | $20.7M | $2.4M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,319.1 | +0.073% | $1.0M | $316K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,319.5 | +0.081% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,320.6 | +0.108% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,318.7 | +0.062% | $9.4M | $16.4M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,319.1 | +0.071% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,317.9 | +0.045% | $1.3M | $814K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,317 | +0.023% | $12.2M | $221K | — | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,316 | long leg | $1.5M | $52K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,316.1 | +0.003% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,318.1 | +0.048% | $972K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0792% | 1h | 4,327.4 | +0.264% | $29K | $23K | 10x | as long as short |
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Aster PAXGUSDT
Injective PAXG/USDC PERP
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD