Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.008%
Price spread now: Backpack against HTX−0.052%7-day average −0.135% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$470.474% of the position
Funding, last 7 days+0.071%+$7 on $10k
+Price spread, last 3 days (all we have)−0.097%−$10 · spread now −0.052%, 7d avg −0.135%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.082% dearer against HTX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.135%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | HTX PAXG-USDT | 4,350.5 | 0 | get 0.0000% / 4h | 1h 20m | $909K | $651K | 75x |
| Short | Backpack PAXG_USDC_PERP | 4,348.3 | 0.0100 | get 0.0013% / 1h | 20m 40s | $1.4M | $954K | 50x |
HTX PAXG-USDT
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against HTX. 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
- $21
- Price spread: −0.052% → −0.135%
- $8.23
- Slippage, 4 orders
- −$25.37
- Fee HTX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$18.14
- Costs to cover
- 0.474%
- Break-even
- 13.0 days
Slippage from HTX: live order book, 63 min ago; Backpack: 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 HTX live order book, 63 min ago | 1.75 bp | 19.2 bp −$19 | 21.5 bp −$215 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.01 bp | 5.1 bp −$5 | 7.5 bp −$75 | 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 | 0.0000% | 1h | 4,347.3 | −0.075% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,349.7 | −0.019% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,341.8 | −0.200% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,351.6 | +0.024% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDTlong | 0.0000% | 4h | 4,350.5 | long leg | $909K | $651K | 75x | |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.074% | $1K | $151K | 30x | as long as short |
| Hibachi PAXG/USDT-P | +0.0080% | 1h | 4,348.2 | −0.054% | $47K | $139K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,349.3 | −0.029% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,346.7 | −0.089% | $1.4M | $273K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,347.1 | −0.079% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
Lighter PAXG
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,347.9 | −0.060% | $20.3M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,347.6 | −0.066% | $907K | $27K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,348.8 | −0.041% | $1.0M | $348K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,347.6 | −0.068% | $80.0M | $67.1M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,348.8 | −0.040% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,345 | −0.127% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,349.9 | −0.015% | $26.8M | $5.2M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,347.5 | −0.071% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,347.4 | −0.072% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,348.3 | −0.052% | $1.4M | $954K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,347.6 | −0.067% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,347.8 | −0.063% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,347.3 | −0.075% | $263K | $797K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,347.4 | −0.072% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,346 | −0.104% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,346.7 | −0.088% | $378K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,347.7 | −0.066% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,351.8 | +0.030% | $975K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1376% | 1h | 4,359.3 | +0.202% | $29K | $22K | 10x | as long as short |
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD