Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.025%
Price spread now: Injective against Phemex+1.030%65s7-day average +0.146% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.100%−$10 on $10k
+Price spread, last 4 days (all we have)−0.862%−$86 · spread now +1.030%, 7d avg +0.146%
=The price spread pays, funding is against you. Injective is 0.883% dearer against Phemex than usual: you sell high and buy low (spread +1.030% now, against its 7-day average of +0.146%): +$88 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 44 days. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,303 | 0.0100 | pay 0.0050% / 4h | 3h 52m | $1.5M | $66K | 50x |
| Short | Injective PAXG/USDC PERP | 4,347.3 | 0.0033 | get 0.0004% / 1h | 52m 21s | $1K | $151K | 30x |
Phemex PAXGUSDT
Injective PAXG/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$14
- Price spread: +1.030% → +0.146%
- $88.32
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $62.3
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Phemex: live order book, 1 min ago; Injective: no order-book sample. Net counts fees only.
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 | 5.81 bp | 25.8 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| GRVT PAXG_USDT_Perp | −0.0260% | 4h | 4,305.8 | +0.065% | $1.5M | $1.9M | 10x | as long as short |
| Lighter PAXG | −0.0256% | 1h | 4,303.8 | +0.017% | $1.4M | $607K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0160% | 1h | 4,306.4 | +0.079% | $41K | $171K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0097% | 1h | 4,306.2 | +0.074% | $1.2M | $1.7M | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,306 | +0.069% | $100K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,307.8 | +0.112% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,301.2 | −0.041% | $2K | $3.2M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,309.9 | +0.161% | $7.9M | $599K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,310.5 | +0.174% | $904K | $804K | 75x | as long as short |
| Extended PAXG-USD | +0.0016% | 1h | 4,304.4 | +0.033% | $377K | $1.6M | 25x | as long as short |
GRVT PAXG_USDT_Perp
Lighter PAXG
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Extended PAXG-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC PAXG_USDT | +0.0016% | 4h | 4,312.3 | +0.217% | $16.6M | $1.1M | 100x | as long as short |
| Binance PAXGUSDT | +0.0018% | 4h | 4,305.6 | +0.060% | $80.2M | $79.5M | 75x | as long as short |
| Aster PAXGUSDT | +0.0027% | 4h | 4,306.1 | +0.072% | $898K | $32K | 50x | as long as short |
| Bitget PAXGUSDT | +0.0030% | 4h | 4,305.4 | +0.057% | $9.4M | $16.0M | 50x | as long as short |
| Injective PAXG/USDC PERPshort | +0.0033% | 1h | 4,347.3 | +1.030% | $1K | $151K | 30x | |
| BingX PAXG-USDT | +0.0092% | 4h | 4,307.7 | +0.110% | — | $6.8M | — | as long as short |
| Paradex PAXG-USD-PERP | +0.0095% | 8h | 4,306.1 | +0.072% | $85K | $4.1M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,306.1 | +0.072% | $21.0M | $2.5M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,308.4 | +0.125% | $1.0M | $304K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,305.9 | +0.067% | $14.8M | $4.3M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,307.5 | +0.105% | $28.5M | $5.3M | 30x | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,306.8 | +0.089% | $1.2M | $856K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,302.4 | −0.013% | $12.2M | $230K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,302.3 | −0.015% | $261K | $769K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,306 | +0.070% | $553 | — | 10x | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,303 | long leg | $1.5M | $66K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,304.7 | +0.041% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,309.1 | +0.142% | $937K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0816% | 1h | 4,317.2 | +0.330% | $29K | $23K | 10x | as long as short |
MEXC PAXG_USDT
Binance PAXGUSDT
Aster PAXGUSDT
Bitget PAXGUSDT
BingX PAXG-USDT
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Backpack PAXG_USDC_PERP
Variational Omni PAXG
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD