Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.038%
Price spread now: dYdX against Bybit−0.061%7-day average −0.012% · you buy dearer than you sell
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$450.453% of the position
Funding, last 7 days−0.255%−$25 on $10k
+Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.061%, 7d avg −0.012%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.049% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.012%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PAXGUSDT | 4,344.5 | 0.0100 | pay 0.0050% / 4h | 2h 46m | $14.9M | $3.9M | 75x |
| Short | dYdX PAXG-USD | 4,341.9 | 0 | get 0.0000% / 1h | 46m 29s | $101K | $12K | 5x |
Bybit PAXGUSDT
dYdX PAXG-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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: −0.061% → −0.012%
- −$4.86
- Slippage, 4 orders
- −$24.29
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$71.15
- Costs to cover
- 0.453%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; dYdX: 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, 2 min ago | 0.12 bp | 7.4 bp −$7 | 10.9 bp −$109 | 25.3 bp −$2,534 | doesn't fit |
| Sell dYdX live order book, 2 min ago | 10.36 bp | 15.4 bp −$15 | 95.6 bp −$956 | 165.8 bp −$16.6K | 867.4 bp −$433.7K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0184% | 1h | 4,344.4 | −0.003% | $46K | $162K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0101% | 1h | 4,344.7 | +0.004% | $1.3M | $1.5M | 20x | as long as short |
| Lighter PAXG | −0.0064% | 1h | 4,342.4 | −0.049% | $1.4M | $365K | 25x | as long as short |
| dYdX PAXG-USDshort | 0.0000% | 1h | 4,341.9 | −0.061% | $101K | $12K | 5x | |
| Gate PAXG_USDT | 0.0000% | 8h | 4,346 | +0.035% | $15.7M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,340.3 | −0.097% | $2K | $3.5M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,347.5 | +0.069% | $7.9M | $843K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,346.6 | +0.048% | $906K | $691K | 75x | as long as short |
| ApeX Omni PAXGUSDT | +0.0002% | 1h | 4,342.9 | −0.036% | $263K | $783K | 50x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0018% | 4h | 4,343.8 | −0.017% | $1.5M | $1.9M | 10x | as long as short |
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
Lighter PAXG
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
ApeX Omni PAXGUSDT
GRVT PAXG_USDT_PerpShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.064% | $1K | $151K | 30x | as long as short |
| Extended PAXG-USD | +0.0040% | 1h | 4,342.4 | −0.047% | $379K | $1.4M | 25x | as long as short |
| MEXC PAXG_USDT | +0.0040% | 4h | 4,344.8 | +0.008% | $16.2M | $1.0M | 100x | as long as short |
| Binance PAXGUSDT | +0.0042% | 4h | 4,343.7 | −0.019% | $80.2M | $70.4M | 75x | as long as short |
| Aster PAXGUSDT | +0.0077% | 4h | 4,343.5 | −0.022% | $906K | $26K | 50x | as long as short |
| Hyperliquid PAXG | +0.0093% | 1h | 4,343.7 | −0.018% | $20.8M | $2.3M | 10x | as long as short |
| Paradex PAXG-USD-PERP | +0.0099% | 8h | 4,344 | −0.013% | $81K | $3.4M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,343.3 | −0.028% | $557 | — | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,345.1 | +0.014% | $1.0M | $353K | 10x | as long as short |
| Bybit PAXGUSDTlong | +0.0100% | 4h | 4,344.5 | long leg | $14.9M | $3.9M | 75x | |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,346.8 | +0.053% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,344 | −0.011% | $9.7M | $15.2M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,344.4 | −0.002% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,344.3 | −0.004% | $1.3M | $795K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,342.8 | −0.039% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,339 | −0.127% | $1.5M | $39K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,343.5 | −0.023% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0248% | 1h | 4,347.5 | +0.070% | $956K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0768% | 1h | 4,354.7 | +0.235% | $29K | $24K | 10x | as long as short |
Injective PAXG/USDC PERP
Extended PAXG-USD
MEXC PAXG_USDT
Binance PAXGUSDT
Aster PAXGUSDT
Hyperliquid PAXG
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
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