Funding you earn now, next payment 07:00 UTC−0.0044%/8h= −4.9% APRnext payment −$0.06 per $10,000 · paid last 24h +0.033%
Price spread now: Kraken Futures against Deribit−0.079%7-day average −0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs+$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$320.321% of the position
Funding, last 7 days+0.532%+$53 on $10k
+Price spread, last 4 days (all we have)+0.077%+$8 · spread now −0.079%, 7d avg −0.033%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.046% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.033%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.532%, 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 | Deribit PAXG_USDC-PERPETUAL | 4,321.7 | 0 | get 0.0000% / 1h | 52m 03s | $7.9M | $841K | 50x |
| Short | Kraken Futures PF_PAXGUSD | 4,318.3 | −0.0044 | pay 0.0006% / 1h | 52m 03s | $1.2M | $1.9M | 20x |
Deribit PAXG_USDC-PERPETUAL
Kraken Futures PF_PAXGUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$9.32
- Price spread: −0.079% → −0.033%
- −$4.58
- Slippage, 4 orders
- −$15.07
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$45.97
- Costs to cover
- 0.321%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 2 min ago; Kraken Futures: live order book, 1 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, 2 min ago | 0.01 bp | 6.2 bp −$6 | 12.0 bp −$120 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 0.81 bp | 8.4 bp −$8 | 16.7 bp −$167 | 40.8 bp −$4,080 | 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 | −0.0192% | 1h | 4,316.4 | −0.124% | $1.4M | $427K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0168% | 1h | 4,318.9 | −0.065% | $46K | $169K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0086% | 4h | 4,319.2 | −0.059% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | −0.0066% | 1h | 4,319.2 | −0.057% | $261K | $771K | 50x | as long as short |
| Kraken Futures PF_PAXGUSDshort | −0.0044% | 1h | 4,318.3 | −0.079% | $1.2M | $1.9M | 20x | |
| dYdX PAXG-USD | 0.0000% | 1h | 4,317.9 | −0.089% | $101K | $12K | 5x | as long as short |
| Extended PAXG-USD | 0.0000% | 1h | 4,315.8 | −0.136% | $378K | $1.5M | 25x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,319.6 | −0.049% | $15.6M | $3.7M | 100x | as long as short |
| MEXC PAXG_USDT | 0.0000% | 4h | 4,322.4 | +0.016% | $16.5M | $1.0M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,314.5 | −0.166% | $2K | $3.4M | 20x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
dYdX PAXG-USD
Extended PAXG-USD
Gate PAXG_USDT
MEXC PAXG_USDT
SunX PAXG-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,321.7 | long leg | $7.9M | $841K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,320.5 | −0.028% | $906K | $761K | 75x | as long as short |
| Binance PAXGUSDT | 0.0000% | 4h | 4,317.4 | −0.100% | $79.6M | $74.4M | 75x | as long as short |
| Aster PAXGUSDT | +0.0024% | 4h | 4,320 | −0.039% | $901K | $27K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.592% | $1K | $151K | 30x | as long as short |
| Paradex PAXG-USD-PERP | +0.0097% | 8h | 4,318.3 | −0.080% | $85K | $3.2M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,316 | −0.132% | $554 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,318.1 | −0.083% | $20.7M | $2.4M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,320.4 | −0.030% | $1.0M | $320K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,318.1 | −0.083% | $14.9M | $4.1M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,319.7 | −0.046% | $28.4M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,317.6 | −0.095% | $9.4M | $16.4M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,318.6 | −0.072% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,318.1 | −0.083% | $1.3M | $811K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,321.6 | −0.003% | $12.3M | $221K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,317 | −0.109% | $1.5M | $52K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,317.8 | −0.090% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,333.5 | +0.272% | $978K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0800% | 1h | 4,329.2 | +0.173% | $29K | $23K | 10x | as long as short |
HTX PAXG-USDT
Binance PAXGUSDT
Aster PAXGUSDT
Injective PAXG/USDC PERP
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
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