Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.008%
Price spread now: HTX against Backpack+0.065%7-day average +0.133% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$480.478% of the position
Funding, last 7 days−0.071%−$7 on $10k
+Price spread, last 3 days (all we have)+0.078%+$8 · spread now +0.065%, 7d avg +0.133%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.068% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.133%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PAXG_USDC_PERP | 4,356.5 | 0.0100 | pay 0.0013% / 1h | 45m 02s | $1.4M | $955K | 50x |
| Short | HTX PAXG-USDT | 4,359.4 | 0 | get 0.0000% / 4h | 45m 02s | $911K | $634K | 75x |
Backpack PAXG_USDC_PERP
HTX PAXG-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX against Backpack. 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: +0.065% → +0.133%
- −$6.78
- Slippage, 4 orders
- −$25.84
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$75.62
- Costs to cover
- 0.478%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 4 min ago; HTX: live order book, 34 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 Backpack live order book, 4 min ago | 0.01 bp | 5.6 bp −$6 | 6.5 bp −$65 | doesn't fit | doesn't fit |
| Sell HTX live order book, 34 min ago | 0.01 bp | 12.2 bp −$12 | 13.7 bp −$137 | 16.6 bp −$1,663 | 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 | −0.211% | $1K | $151K | 30x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,358.3 | +0.042% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,358.1 | +0.036% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,351.5 | −0.114% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,359.2 | +0.062% | $7.9M | $866K | 50x | as long as short |
| HTX PAXG-USDTshort | 0.0000% | 4h | 4,359.4 | +0.065% | $911K | $634K | 75x | |
| Lighter PAXG | +0.0096% | 1h | 4,354.6 | −0.044% | $1.4M | $270K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,356.3 | −0.005% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,355.4 | −0.025% | $20.4M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,356.9 | +0.008% | $909K | $30K | 50x | as long as short |
Injective PAXG/USDC PERP
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
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 | 4,358.9 | +0.055% | $1.0M | $344K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,355 | −0.036% | $80.0M | $68.4M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,356.3 | −0.004% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,355.1 | −0.034% | $16.1M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,357.6 | +0.024% | $27.0M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,356.3 | −0.005% | $9.9M | $14.0M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,356.7 | +0.003% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,356.5 | long leg | $1.4M | $955K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,357.9 | +0.032% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,359.6 | +0.070% | $1.6M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,358.2 | +0.038% | $264K | $795K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,357.3 | +0.018% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,356 | −0.012% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,354.6 | −0.043% | $378K | $1.2M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0144% | 1h | 4,358.7 | +0.051% | $48K | $141K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,355.6 | −0.020% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0286% | 1h | 4,356.9 | +0.008% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,362.5 | +0.138% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,367.6 | +0.255% | $29K | $23K | 10x | as long as short |
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
01 Exchange PAXGUSD