Funding you earn now, next payment 04:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.003%
Price spread now: Lighter against Bybit−0.043%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Funding, last 7 days−0.012%−$1 on $10k
+Price spread, last 7 days+0.087%+$9 · spread now −0.043%, 7d avg −0.013%
=Together, before fees+0.074%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Lighter is 0.030% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.013%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PAXGUSDT | 4,340.7 | 0.0100 | pay 0.0050% / 4h | 14m 02s | $14.9M | $3.8M | 75x |
| Short | Lighter PAXG | 4,338.9 | −0.0008 | pay 0.0001% / 1h | 14m 02s | $1.4M | $357K | 25x |
Bybit PAXGUSDT
Lighter PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$22.68
- Price spread: −0.043% → −0.013%
- −$3.01
- Slippage, 4 orders
- −$7.01
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$43.7
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 4 min ago; Lighter: 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, 4 min ago | 0.12 bp | 7.6 bp −$8 | 11.6 bp −$116 | 28.9 bp −$2,892 | doesn't fit |
| Sell Lighter live order book, 2 min ago | 1.15 bp | 1.4 bp −$1 | 1.8 bp −$18 | 16.6 bp −$1,655 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0136% | 1h | 4,340 | −0.015% | $42K | $155K | 20x | as long as short |
| Lighter PAXGshort | −0.0008% | 1h | 4,338.9 | −0.043% | $1.4M | $357K | 25x | |
| dYdX PAXG-USD | 0.0000% | 1h | 4,342 | +0.030% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,342.6 | +0.044% | $15.6M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,337.1 | −0.084% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,343.1 | +0.055% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,346.8 | +0.141% | $904K | $686K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.152% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0072% | 4h | 4,343.8 | +0.072% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0091% | 1h | 4,340.9 | +0.005% | $262K | $788K | 50x | as long as short |
Hibachi PAXG/USDT-P
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,340.6 | −0.001% | $81K | $3.7M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,339.9 | −0.018% | $557 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,340.4 | −0.007% | $20.8M | $2.4M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,340.9 | +0.005% | $906K | $26K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,342.2 | +0.034% | $1.0M | $340K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,339.2 | −0.035% | $80.1M | $70.8M | 75x | as long as short |
| Bybit PAXGUSDTlong | +0.0100% | 4h | 4,340.7 | long leg | $14.9M | $3.8M | 75x | |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.2 | +0.035% | $16.1M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,343 | +0.053% | $28.6M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,340 | −0.016% | $9.6M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,340.8 | +0.003% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,340.5 | −0.006% | $1.3M | $806K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,343.1 | +0.055% | $12.5M | $97K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,341 | +0.007% | $1.5M | $40K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,338 | −0.063% | $379K | $1.5M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,340.5 | −0.004% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0210% | 1h | 4,340.3 | −0.009% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,346.5 | +0.133% | $968K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0856% | 1h | 4,351.2 | +0.242% | $29K | $23K | 10x | as long as short |
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD