Funding you earn now, next payment 03:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.004%
Price spread now: Bybit against Kraken Futures+0.013%7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$290.293% of the position
Funding, last 7 days−0.338%−$34 on $10k
+Price spread, last 4 days (all we have)−0.116%−$12 · spread now +0.013%, 7d avg −0.008%
=The price spread pays, funding is against you. Bybit is 0.021% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.008%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.338% in total) that is about 10 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PAXGUSD | 4,349.5 | 0.0173 | pay 0.0022% / 1h | 26m 04s | $1.3M | $1.4M | 20x |
| Short | Bybit PAXGUSDT | 4,350 | 0.0100 | get 0.0050% / 4h | 1h 26m | $15.0M | $3.8M | 75x |
Kraken Futures PF_PAXGUSD
Bybit PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Kraken Futures. 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
- −$15.32
- Price spread: +0.013% → −0.008%
- $2.1
- Slippage, 4 orders
- −$8.35
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$42.57
- Costs to cover
- 0.293%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Bybit: 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 Kraken Futures live order book, 2 min ago | 0.46 bp | 6.9 bp −$7 | 11.6 bp −$116 | 36.9 bp −$3,688 | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.12 bp | 7.9 bp −$8 | 10.8 bp −$108 | 26.5 bp −$2,647 | 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 | 4,344.4 | −0.118% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,350.6 | +0.026% | $15.6M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,345 | −0.102% | $2K | $3.7M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,351.5 | +0.047% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,351 | +0.034% | $906K | $654K | 75x | as long as short |
| Hibachi PAXG/USDT-P | +0.0016% | 1h | 4,347.3 | −0.049% | $41K | $156K | 20x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.050% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0070% | 4h | 4,345.3 | −0.095% | $1.5M | $1.9M | 10x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,347.4 | −0.048% | $1.4M | $349K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,348.3 | −0.027% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Hibachi PAXG/USDT-P
Injective PAXG/USDC PERP
GRVT PAXG_USDT_Perp
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 | 4,349.2 | −0.006% | $20.8M | $2.4M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,348.4 | −0.024% | $907K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,349.1 | −0.010% | $1.0M | $340K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,349.2 | −0.006% | $80.2M | $70.5M | 75x | as long as short |
| Bybit PAXGUSDTshort | +0.0100% | 4h | 4,350 | +0.013% | $15.0M | $3.8M | 75x | |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,349.1 | −0.009% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,351.4 | +0.045% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,350.1 | +0.014% | $9.6M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,348.2 | −0.029% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,348.9 | −0.014% | $1.3M | $801K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,348.2 | −0.030% | $12.5M | $99K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,345.8 | −0.086% | $263K | $790K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,348.6 | −0.020% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,347 | −0.057% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,348.1 | −0.031% | $382K | $1.4M | 25x | as long as short |
| Kraken Futures PF_PAXGUSDlong | +0.0173% | 1h | 4,349.5 | long leg | $1.3M | $1.4M | 20x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,347.9 | −0.035% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,349.7 | +0.005% | $971K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0984% | 1h | 4,358.6 | +0.210% | $29K | $23K | 10x | as long as short |
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD