Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%
Price spread now: Backpack against SunX+0.137%7-day average +0.125% · you sell dearer than you buy
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$73as in the Price arb table
costs, in and out, $10k−$740.743% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 3 days (all we have)−0.024%−$2 · spread now +0.137%, 7d avg +0.125%
=The price spread sits at its 7-day average of +0.125%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SunX PAXG-USDT | 4,340.6 | 0 | get 0.0000% / 4h | 1h 43m | $2K | $4.0M | 20x |
| Short | Backpack PAXG_USDC_PERP | 4,346.5 | 0.0100 | get 0.0013% / 1h | 43m 58s | $1.4M | $952K | 50x |
SunX PAXG-USDT
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against SunX. 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: +0.137% → +0.125%
- $1.19
- Slippage, 4 orders
- −$56.26
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$52.08
- Costs to cover
- 0.743%
- Break-even
- 24.4 days
Slippage from SunX: live order book, 4 min ago; Backpack: live order book, 5 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 SunX live order book, 4 min ago | 21.53 bp | 38.3 bp −$38 | 67.5 bp −$675 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 5 min ago | 0.01 bp | 5.4 bp −$5 | 8.1 bp −$81 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,343.7 | +0.072% | $101K | $13K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,347.5 | +0.159% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDTlong | 0.0000% | 4h | 4,340.6 | long leg | $2K | $4.0M | 20x | |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,349.2 | +0.198% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,347.6 | +0.162% | $909K | $655K | 75x | as long as short |
| Hibachi PAXG/USDT-P | +0.0032% | 1h | 4,346 | +0.125% | $47K | $142K | 20x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,337 | −0.083% | $1K | $121K | 30x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,346.9 | +0.144% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,344.7 | +0.094% | $1.4M | $273K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,345.3 | +0.108% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Hibachi PAXG/USDT-P
Injective PAXG/USDC PERP
Kraken Futures PF_PAXGUSD
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 | 4,345.4 | +0.112% | $20.3M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,345.6 | +0.114% | $907K | $28K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,346.7 | +0.141% | $1.0M | $368K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,345.1 | +0.104% | $80.0M | $67.8M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,345.9 | +0.122% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.4 | +0.042% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,347.5 | +0.159% | $26.8M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,346.2 | +0.128% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,345.6 | +0.115% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,346.5 | +0.137% | $1.4M | $952K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,345.3 | +0.109% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,345.5 | +0.112% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,343.6 | +0.069% | $263K | $798K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,345.5 | +0.113% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,340 | −0.014% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,344.3 | +0.086% | $378K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,345.3 | +0.107% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,347.6 | +0.161% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1416% | 1h | 4,363.7 | +0.532% | $29K | $21K | 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
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD