Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.038%
Price spread now: dYdX against Phemex+0.007%7-day average +0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$117as in the Funding arb table
Net, price: spread back to 7d avg − costs−$97as in the Price arb table
costs, in and out, $10k−$920.919% of the position
Funding, last 7 days−0.252%−$25 on $10k
+Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.007%, 7d avg +0.054%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.047% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.054%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,341 | 0.0100 | pay 0.0050% / 4h | 1h 11m | $1.5M | $39K | 50x |
| Short | dYdX PAXG-USD | 4,341.3 | 0 | get 0.0000% / 1h | 11m 28s | $101K | $12K | 5x |
Phemex PAXGUSDT
dYdX PAXG-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$21
- Price spread: +0.007% → +0.054%
- −$4.69
- Slippage, 4 orders
- −$69.92
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$117.61
- Costs to cover
- 0.919%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; dYdX: live order book, 52 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, 1 min ago | 5.76 bp | 27.5 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell dYdX live order book, 52 min ago | 13.82 bp | 18.8 bp −$19 | 77.8 bp −$778 | 169.3 bp −$16.9K | 820.9 bp −$410.5K |
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 | −0.0040% | 1h | 4,342 | +0.022% | $41K | $158K | 20x | as long as short |
| dYdX PAXG-USDshort | 0.0000% | 1h | 4,341.3 | +0.007% | $101K | $12K | 5x | |
| Gate PAXG_USDT | 0.0000% | 8h | 4,342.6 | +0.037% | $15.6M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,337.5 | −0.081% | $1K | $3.7M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,344 | +0.069% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,348.3 | +0.168% | $904K | $660K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.145% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0082% | 4h | 4,343.4 | +0.056% | $1.5M | $1.9M | 10x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,338.9 | −0.048% | $1.4M | $351K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,339.7 | −0.029% | $80K | $3.7M | 50x | as long as short |
Hibachi PAXG/USDT-P
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
GRVT PAXG_USDT_Perp
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 | 4,340.8 | −0.005% | $20.7M | $2.4M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,340 | −0.023% | $905K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,341.7 | +0.016% | $1.0M | $340K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,340 | −0.023% | $80.0M | $70.7M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,341.5 | +0.012% | $14.9M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.4 | +0.033% | $16.1M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,342.9 | +0.043% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,340.9 | −0.001% | $9.6M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,341.1 | +0.001% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,339.7 | −0.029% | $1.3M | $800K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,344.8 | +0.088% | $12.5M | $99K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,342.5 | +0.033% | $263K | $791K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,340 | −0.023% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,341 | long leg | $1.5M | $39K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,338.9 | −0.049% | $382K | $1.4M | 25x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0173% | 1h | 4,340.4 | −0.015% | $1.3M | $1.4M | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,340 | −0.022% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,353 | +0.276% | $972K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,350.6 | +0.221% | $29K | $23K | 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
Backpack PAXG_USDC_PERP
Variational Omni PAXG
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Extended PAXG-USD
Kraken Futures PF_PAXGUSD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD