Funding you earn now, next payment 06:00 UTC−0.0128%/8h= −14.0% APRnext payment −$0.16 per $10,000 · paid last 24h +0.023%
Price spread now: Lighter against Deribit−0.130%7-day average −0.069% · you buy dearer than you sell
Net, funding: paid 7d − costs−$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$200.201% of the position
Funding, last 7 days+0.193%+$19 on $10k
+Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.130%, 7d avg −0.069%
=Together, before fees+0.227%+ Points / potential airdropLighter: Season 3 · farm board+$23 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.061% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.069%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.193%, 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 | 4,330.8 | 0 | get 0.0000% / 1h | 4m 17s | $7.9M | $835K | 50x |
| Short | Lighter PAXG | 4,325.2 | −0.0128 | pay 0.0016% / 1h | 4m 17s | $1.4M | $392K | 25x |
Deribit PAXG_USDC-PERPETUAL
Lighter PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$26.88
- Price spread: −0.130% → −0.069%
- −$6.13
- Slippage, 4 orders
- −$13.14
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$53.15
- Costs to cover
- 0.201%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 5 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 Deribit live order book, 5 min ago | 3.57 bp | 9.3 bp −$9 | 15.6 bp −$156 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 1.52 bp | 2.0 bp −$2 | 6.2 bp −$62 | 20.7 bp −$2,072 | 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 PAXGshort | −0.0128% | 1h | 4,325.2 | −0.130% | $1.4M | $392K | 25x | |
| Hibachi PAXG/USDT-P | −0.0112% | 1h | 4,328.3 | −0.059% | $42K | $165K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0102% | 1h | 4,327.8 | −0.071% | $1.2M | $1.9M | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0058% | 4h | 4,330.7 | −0.002% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | −0.0002% | 1h | 4,329.5 | −0.032% | $262K | $783K | 50x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,328.9 | −0.044% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,328.9 | −0.044% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,322.6 | −0.190% | $2K | $3.4M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,330.8 | long leg | $7.9M | $835K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,332.7 | +0.044% | $903K | $745K | 75x | as long as short |
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended PAXG-USD | +0.0016% | 1h | 4,325.6 | −0.121% | $376K | $1.4M | 25x | as long as short |
| MEXC PAXG_USDT | +0.0016% | 4h | 4,329.1 | −0.041% | $16.4M | $1.1M | 100x | as long as short |
| Binance PAXGUSDT | +0.0017% | 4h | 4,326.9 | −0.091% | $79.8M | $74.3M | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.380% | $1K | $151K | 30x | as long as short |
| Aster PAXGUSDT | +0.0042% | 4h | 4,329.4 | −0.032% | $903K | $27K | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0097% | 8h | 4,326.3 | −0.104% | $81K | $3.2M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,327.1 | −0.086% | $555 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,327 | −0.088% | $20.8M | $2.4M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,328.6 | −0.051% | $1.0M | $336K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,327.9 | −0.067% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,329.4 | −0.034% | $28.5M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,327.1 | −0.087% | $9.3M | $16.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,327.9 | −0.068% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,327.5 | −0.077% | $1.3M | $810K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,330 | −0.019% | $12.3M | $221K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,325 | −0.134% | $1.5M | $45K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,326.4 | −0.103% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0248% | 1h | 4,333.5 | +0.061% | $978K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0856% | 1h | 4,390.5 | +1.378% | $29K | $24K | 10x | as long as short |
Extended PAXG-USD
MEXC PAXG_USDT
Binance PAXGUSDT
Injective PAXG/USDC PERP
Aster PAXGUSDT
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