Funding you earn now, next payment 09:00 UTC+0.0077%/8h= +8.5% APRnext payment +$0.10 per $10,000 · paid last 24h +0.029%
Price spread now: Hyperliquid against Deribit−0.100%7-day average −0.053% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$270.267% of the position
Funding, last 7 days+0.164%+$16 on $10k
+Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.100%, 7d avg −0.053%
=Together, before fees+0.158%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.048% cheaper against Deribit than usual: you would sell low and buy high (spread −0.100% now, against its 7-day average of −0.053%). If the spread goes back, that is −$5 on $10k: about 2.1 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PAXG_USDC-PERPETUAL | 4,333.4 | 0 | get 0.0000% / 1h | 0m 15s | $7.9M | $428K | 50x |
| Short | Hyperliquid PAXG | 4,329 | 0.0077 | get 0.0010% / 1h | 0m 15s | $21.3M | $2.6M | 10x |
Deribit PAXG_USDC-PERPETUAL
Hyperliquid PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Deribit. 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
- $16.25
- Price spread: −0.100% → −0.053%
- −$4.79
- Slippage, 4 orders
- −$10.71
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$15.25
- Costs to cover
- 0.267%
- Break-even
- 13.6 days
Slippage from Deribit: live order book, 4 min ago; Hyperliquid: live order book, 3 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 Deribit live order book, 4 min ago | 3.62 bp | 8.5 bp −$9 | 14.2 bp −$142 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 0.12 bp | 4.8 bp −$5 | 5.8 bp −$58 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | −0.0239% | 1h | 4,328.5 | −0.112% | $115K | $15K | 5x | as long as short |
| Lighter PAXG | −0.0136% | 1h | 4,327.3 | −0.139% | $1.4M | $637K | 25x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0096% | 1h | 4,329.9 | −0.080% | $1.2M | $2.1M | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0078% | 4h | 4,331.9 | −0.033% | $1.5M | $2.0M | 10x | as long as short |
| Hibachi PAXG/USDT-P | −0.0008% | 1h | 4,330.3 | −0.071% | $43K | $189K | 20x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,330.7 | −0.061% | $15.7M | $4.1M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,325.5 | −0.180% | $2K | $3.1M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,333.4 | long leg | $7.9M | $428K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,332.3 | −0.024% | $910K | $823K | 75x | as long as short |
| MEXC PAXG_USDT | +0.0020% | 4h | 4,335.4 | +0.048% | $16.7M | $1.2M | 100x | as long as short |
dYdX PAXG-USD
Lighter PAXG
Kraken Futures PF_PAXGUSD
GRVT PAXG_USDT_Perp
Hibachi PAXG/USDT-P
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
MEXC PAXG_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PAXGUSDT | +0.0022% | 4h | 4,329.2 | −0.095% | $9.2M | $16.3M | 50x | as long as short |
| Binance PAXGUSDT | +0.0022% | 4h | 4,329.5 | −0.090% | $80.3M | $82.1M | 75x | as long as short |
| Extended PAXG-USD | +0.0024% | 1h | 4,327.9 | −0.125% | $375K | $1.5M | 25x | as long as short |
| ApeX Omni PAXGUSDT | +0.0030% | 1h | 4,330.4 | −0.068% | $262K | $806K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.322% | $1K | $151K | 30x | as long as short |
| Aster PAXGUSDT | +0.0039% | 4h | 4,330.3 | −0.069% | $906K | $38K | 50x | as long as short |
| Hyperliquid PAXGshort | +0.0077% | 1h | 4,329 | −0.100% | $21.3M | $2.6M | 10x | |
| Paradex PAXG-USD-PERP | +0.0086% | 8h | 4,326.7 | −0.154% | $80K | $4.4M | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,328.1 | −0.122% | $1.0M | $308K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,329 | −0.100% | $15.0M | $4.6M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,331.8 | −0.037% | $28.9M | $5.5M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,329.4 | −0.092% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,327.9 | −0.126% | $1.2M | $857K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,326.8 | −0.150% | $12.2M | $291K | — | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,328.2 | −0.119% | $555 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,324 | −0.216% | $1.5M | $80K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,327.2 | −0.141% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,330.6 | −0.063% | $933K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1344% | 1h | 4,387 | +1.238% | $29K | $24K | 10x | as long as short |
Bitget PAXGUSDT
Binance PAXGUSDT
Extended PAXG-USD
ApeX Omni PAXGUSDT
Injective PAXG/USDC PERP
Aster PAXGUSDT
Paradex PAXG-USD-PERP
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD