Funding you earn now, next payment 00:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.041%
Price spread now: Hibachi against Phemex+0.071%7-day average +0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$90as in the Price arb table
costs, in and out, $10k−$920.920% of the position
Funding, last 7 days+0.488%+$49 on $10k
+Price spread, last 3 days (all we have)−0.037%−$4 · spread now +0.071%, 7d avg +0.049%
=Together, before fees+0.451%+ Points / potential airdropHibachi: Active · farm board+$45 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hibachi is 0.022% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.049%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,357 | 0.0100 | pay 0.0050% / 4h | 19m 52s | $1.5M | $38K | 50x |
| Short | Hibachi PAXG/USDT-P | 4,360.1 | 0.0128 | get 0.0016% / 1h | 19m 52s | $48K | $143K | 20x |
Phemex PAXGUSDT
Hibachi PAXG/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi 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
- $5.88
- Price spread: +0.071% → +0.049%
- $2.25
- Slippage, 4 orders
- −$70.96
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$83.83
- Costs to cover
- 0.920%
- Break-even
- 106.8 days
Slippage from Phemex: live order book, 3 min ago; Hibachi: live order book, 59 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, 3 min ago | 6.89 bp | 28.1 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hibachi live order book, 59 min ago | 0.14 bp | 16.5 bp −$17 | 51.7 bp −$517 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | −0.0007% | 1h | 4,347.3 | −0.223% | $1K | $151K | 30x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,358.3 | +0.030% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,361.8 | +0.110% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,356.9 | −0.003% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,363.1 | +0.140% | $7.9M | $866K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,363.4 | +0.147% | $911K | $645K | 75x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,358 | +0.024% | $1.4M | $270K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,358.3 | +0.029% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,359.3 | +0.053% | $20.4M | $1.9M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,359.8 | +0.065% | $909K | $30K | 50x | as long as short |
Injective PAXG/USDC PERP
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Aster PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PAXG | +0.0100% | 1h | 4,360.4 | +0.078% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,360.1 | +0.072% | $80.1M | $69.4M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,360.3 | +0.076% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,357.8 | +0.018% | $16.1M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,360.8 | +0.088% | $27.3M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,360.6 | +0.082% | $9.8M | $14.5M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,360.3 | +0.075% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,360.2 | +0.074% | $1.4M | $971K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,359 | +0.045% | $12.5M | $102K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,357.3 | +0.007% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,356.1 | −0.021% | $263K | $795K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,358.6 | +0.037% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,357 | long leg | $1.5M | $38K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,358.9 | +0.044% | $378K | $1.2M | 25x | as long as short |
| Hibachi PAXG/USDT-Pshort | +0.0128% | 1h | 4,360.1 | +0.071% | $48K | $143K | 20x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,358.6 | +0.036% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0286% | 1h | 4,359.8 | +0.064% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,362.1 | +0.117% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0976% | 1h | 4,369.6 | +0.289% | $29K | $23K | 10x | as long as short |
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD