Funding you earn now, next payment 01:00 UTC−0.0932%/8h= −102.1% APRnext payment −$1.17 per $10,000 · paid last 24h −0.223%
Price spread now: Backpack against 01 Exchange−1.839%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Backpack is 1.839% cheaper against 01 Exchange than usual: you would sell low and buy high (−$184 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | 01 Exchange PAXGUSD | 4,442.6 | 0.1032 | pay 0.0129% / 1h | 41m 09s | $30K | $23K | 10x |
| Short | Backpack PAXG_USDC_PERP | 4,360.9 | 0.0100 | get 0.0013% / 1h | 41m 09s | $1.4M | $856K | 50x |
01 Exchange PAXGUSD
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against 01 Exchange. 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
- −$195.72
- Price spread: −1.839% → 0.000%
- −$183.88
- Slippage, 4 orders
- no order book: not counted
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$396.6
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: 01 Exchange: no order-book sample; Backpack: live order book, 3 min ago. 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 01 Exchange no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 3 min ago | 0.01 bp | 5.6 bp −$6 | 7.4 bp −$74 | doesn't fit | doesn't fit |
01 Exchange: 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,359.2 | −1.877% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,359.8 | −1.864% | $15.7M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,353.6 | −2.003% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,359.6 | −1.869% | $7.9M | $871K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,361.3 | −1.830% | $908K | $661K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −2.145% | $1K | $151K | 30x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,355.5 | −1.961% | $1.4M | $270K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,357.6 | −1.914% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,358.1 | −1.902% | $20.8M | $2.1M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,359.9 | −1.861% | $909K | $30K | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
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 | 4,360.1 | −1.857% | $1.0M | $365K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,356.5 | −1.938% | $80.2M | $71.1M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,358 | −1.904% | $15.1M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,357.6 | −1.914% | $16.2M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,358.4 | −1.895% | $28.4M | $5.6M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,356.8 | −1.931% | $9.7M | $15.6M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,359.1 | −1.879% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,360.9 | −1.839% | $1.4M | $856K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,359.4 | −1.873% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,361 | −1.837% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,365.5 | −1.736% | $264K | $784K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,358.5 | −1.893% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,357 | −1.927% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,356.6 | −1.936% | $381K | $1.5M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0128% | 1h | 4,361.1 | −1.835% | $42K | $155K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,358.2 | −1.901% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0208% | 1h | 4,357 | −1.928% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0304% | 1h | 4,366.2 | −1.720% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSDlong | +0.1032% | 1h | 4,442.6 | long leg | $30K | $23K | 10x |
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
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX