Funding you earn now, next payment 03:00 UTC−0.0110%/8h= −12.0% APRnext payment −$0.14 per $10,000 · paid last 24h −0.050%
Price spread now: Kraken Futures against Coinbase International−0.106%7-day average −0.067% · you buy dearer than you sell
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$280.277% of the position
Funding, last 7 days+0.052%+$5 on $10k
+Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.106%, 7d avg −0.067%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.039% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.067%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.052%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International PAXG-PERP-INTX | 4,345.7 | 0.0320 | pay 0.0040% / 1h | 36m 43s | $968K | $1.1M | 50x |
| Short | Kraken Futures PF_PAXGUSD | 4,341 | 0.0210 | get 0.0026% / 1h | 36m 43s | $1.3M | $1.4M | 20x |
Coinbase International PAXG-PERP-INTX
Kraken Futures PF_PAXGUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Coinbase International. 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
- −$23.07
- Price spread: −0.106% → −0.067%
- −$3.92
- Slippage, 4 orders
- −$7.65
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$54.63
- Costs to cover
- 0.277%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 2 min ago; Kraken Futures: 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 Coinbase International live order book, 2 min ago | 1.28 bp | 6.4 bp −$6 | 8.9 bp −$89 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 0.69 bp | 8.1 bp −$8 | 13.5 bp −$135 | 44.9 bp −$4,493 | 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 | −0.0128% | 1h | 4,340.8 | −0.113% | $42K | $159K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,341.9 | −0.087% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,342.6 | −0.071% | $15.6M | $3.3M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,335.9 | −0.226% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,342.5 | −0.073% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,343.4 | −0.051% | $904K | $670K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.038% | $1K | $151K | 30x | as long as short |
| Lighter PAXG | +0.0072% | 1h | 4,339.2 | −0.149% | $1.4M | $347K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,341.3 | −0.101% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,341.3 | −0.101% | $20.8M | $2.4M | 10x | 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
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXGShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PAXGUSDT | +0.0100% | 4h | 4,340.4 | −0.121% | $905K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,341.3 | −0.101% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,340.3 | −0.123% | $80.2M | $70.4M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,341.1 | −0.105% | $14.9M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,341.5 | −0.095% | $16.1M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,343.4 | −0.053% | $28.6M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,341.6 | −0.094% | $9.7M | $14.8M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,340.9 | −0.109% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,341 | −0.107% | $1.3M | $801K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,340.7 | −0.113% | $12.4M | $97K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,341.8 | −0.089% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,340.1 | −0.127% | $262K | $788K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,339.6 | −0.140% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,337 | −0.200% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,339.2 | −0.149% | $379K | $1.4M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,338.9 | −0.155% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSDshort | +0.0210% | 1h | 4,341 | −0.106% | $1.3M | $1.4M | 20x | |
| Coinbase International PAXG-PERP-INTXlong | +0.0320% | 1h | 4,345.7 | long leg | $968K | $1.1M | 50x | |
| 01 Exchange PAXGUSD | +0.0888% | 1h | 4,350.3 | +0.107% | $29K | $23K | 10x | as long as short |
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
01 Exchange PAXGUSD