Funding you earn now, next payment 09:00 UTC−0.0197%/8h= −21.6% APRpaid last 24h +0.003%
Price spread now: Kraken Futures against Phemex−0.016%7-day average +0.073% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$710.714% of the position
Funding, last 7 days+0.314%+$31 on $10k
+Price spread, last 4 days (all we have)+0.090%+$9 · spread now −0.016%, 7d avg +0.073%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kraken Futures is 0.089% cheaper against Phemex than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.073%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.314%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,297 | 0.0100 | pay 0.0050% / 4h | 3h 27m | $1.5M | $68K | 50x |
| Short | Kraken Futures PF_PAXGUSD | 4,296.3 | −0.0097 | pay 0.0012% / 1h | 27m 33s | $1.2M | $1.8M | 20x |
Phemex PAXGUSDT
Kraken Futures PF_PAXGUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$41.4
- Price spread: −0.016% → +0.073%
- −$8.85
- Slippage, 4 orders
- −$49.39
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$121.64
- Costs to cover
- 0.714%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; Kraken Futures: live order book, 1 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, 5 min ago | 1.16 bp | 23.3 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 0.58 bp | 8.9 bp −$9 | 16.1 bp −$161 | 42.7 bp −$4,274 | 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 | −0.0184% | 1h | 4,295.1 | −0.045% | $1.4M | $620K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0184% | 1h | 4,296.2 | −0.019% | $42K | $174K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0122% | 4h | 4,302.6 | +0.131% | $1.5M | $1.9M | 10x | as long as short |
| Kraken Futures PF_PAXGUSDshort | −0.0097% | 1h | 4,296.3 | −0.016% | $1.2M | $1.8M | 20x | |
| dYdX PAXG-USD | −0.0011% | 1h | 4,297.8 | +0.018% | $100K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,298.2 | +0.028% | $15.6M | $3.9M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,291.3 | −0.132% | $2K | $3.2M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,300.9 | +0.090% | $7.9M | $600K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,303 | +0.138% | $904K | $822K | 75x | as long as short |
| MEXC PAXG_USDT | +0.0012% | 4h | 4,305.3 | +0.193% | $16.7M | $1.2M | 100x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
MEXC PAXG_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance PAXGUSDT | +0.0012% | 4h | 4,296.7 | −0.007% | $79.9M | $80.6M | 75x | as long as short |
| Extended PAXG-USD | +0.0016% | 1h | 4,295.7 | −0.030% | $373K | $1.5M | 25x | as long as short |
| Bitget PAXGUSDT | +0.0024% | 4h | 4,295.1 | −0.044% | $9.5M | $16.0M | 50x | as long as short |
| Aster PAXGUSDT | +0.0027% | 4h | 4,298.7 | +0.038% | $898K | $37K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +1.171% | $1K | $151K | 30x | as long as short |
| ApeX Omni PAXGUSDT | +0.0074% | 1h | 4,302.6 | +0.130% | $261K | $772K | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0093% | 8h | 4,295.8 | −0.029% | $81K | $4.4M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,295.1 | −0.044% | $21.0M | $2.6M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,298.1 | +0.026% | $1.0M | $303K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,296.4 | −0.014% | $14.8M | $4.4M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,298.7 | +0.040% | $28.6M | $5.4M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,297.6 | +0.013% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,296.3 | −0.017% | $1.2M | $860K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,301.7 | +0.110% | $12.2M | $230K | — | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,295.9 | −0.026% | $551 | — | 10x | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,297 | long leg | $1.5M | $68K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,293.7 | −0.076% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,300 | +0.070% | $932K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0840% | 1h | 4,307.5 | +0.244% | $29K | $23K | 10x | as long as short |
Binance PAXGUSDT
Extended PAXG-USD
Bitget PAXGUSDT
Aster PAXGUSDT
Injective PAXG/USDC PERP
ApeX Omni PAXGUSDT
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Orderly PERP_PAXG_USDC_mythos
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD