Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: Deribit against Bybit+0.076%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$310.309% of the position
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.076%, 7d avg +0.040%
=The price spread pays, funding is against you. Deribit is 0.035% dearer against Bybit than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of +0.040%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 28 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PAXGUSDT | 4,331.3 | 0.0100 | pay 0.0050% / 4h | 2h 06m | $14.9M | $4.0M | 75x |
| Short | Deribit PAXG_USDC-PERPETUAL | 4,334.6 | 0 | get 0.0000% / 1h | 6m 52s | $7.9M | $835K | 50x |
Bybit PAXGUSDT
Deribit PAXG_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bybit. 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: +0.076% → +0.040%
- $3.54
- Slippage, 4 orders
- −$12.93
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$48.38
- Costs to cover
- 0.309%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 1 min ago; Deribit: live order book, 2 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 Bybit live order book, 1 min ago | 0.12 bp | 6.8 bp −$7 | 9.9 bp −$99 | 26.0 bp −$2,595 | doesn't fit |
| Sell Deribit live order book, 2 min ago | 3.57 bp | 7.1 bp −$7 | 13.8 bp −$138 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter PAXG | −0.0136% | 1h | 4,328.9 | −0.055% | $1.4M | $391K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0136% | 1h | 4,328 | −0.077% | $42K | $165K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0101% | 1h | 4,332 | +0.015% | $1.2M | $1.9M | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0060% | 4h | 4,327.9 | −0.078% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | −0.0010% | 1h | 4,327.5 | −0.089% | $262K | $784K | 50x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,328.9 | −0.055% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,332.5 | +0.028% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,327.4 | −0.090% | $2K | $3.4M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALshort | 0.0000% | 1h | 4,334.6 | +0.076% | $7.9M | $835K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,333.1 | +0.042% | $903K | $743K | 75x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended PAXG-USD | +0.0016% | 1h | 4,329.3 | −0.047% | $376K | $1.4M | 25x | as long as short |
| MEXC PAXG_USDT | +0.0016% | 4h | 4,331.7 | +0.010% | $16.4M | $1.1M | 100x | as long as short |
| Binance PAXGUSDT | +0.0017% | 4h | 4,330.7 | −0.014% | $79.9M | $74.2M | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.369% | $1K | $151K | 30x | as long as short |
| Aster PAXGUSDT | +0.0044% | 4h | 4,331.5 | +0.004% | $904K | $27K | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0097% | 8h | 4,330.8 | −0.011% | $81K | $3.2M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,330.7 | −0.014% | $556 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,330.7 | −0.014% | $20.8M | $2.4M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,331.6 | +0.007% | $1.0M | $336K | 10x | as long as short |
| Bybit PAXGUSDTlong | +0.0100% | 4h | 4,331.3 | long leg | $14.9M | $4.0M | 75x | |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,332.9 | +0.037% | $28.5M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,330 | −0.030% | $9.4M | $16.0M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,330.5 | −0.018% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,330.7 | −0.014% | $1.3M | $810K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,325.9 | −0.125% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,327 | −0.099% | $1.5M | $45K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,330.1 | −0.028% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0248% | 1h | 4,325.6 | −0.132% | $977K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0856% | 1h | 4,341 | +0.224% | $29K | $24K | 10x | as long as short |
Extended PAXG-USD
MEXC PAXG_USDT
Binance PAXGUSDT
Injective PAXG/USDC PERP
Aster PAXGUSDT
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Pacifica PAXG
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD