PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0349%/8h= +38.2% APRnext payment +$0.44 per $10,000 · paid last 24h +0.049%

Price spread now: Coinbase International against Kraken Futures+0.068%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.282% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.068%, 7d avg +0.067%

Together, before fees−0.060%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.067%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.042% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PAXGUSD	4,344.6	−0.0101	get 0.0013% / 1h	45m 20s	$1.3M	$1.5M	20x
Short	Coinbase International PAXG-PERP-INTX	4,347.5	0.0248	get 0.0031% / 1h	45m 20s	$956K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now +0.068%Rate

Funding earned: $73.32
Price spread: +0.068% → +0.067%: $0.14
Slippage, 4 orders: −$8.22
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $45.24
Costs to cover: 0.282%
Break-even: 2.7 days

Slippage from Kraken Futures: live order book, 3 min ago; Coinbase International: 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 Kraken Futures live order book, 3 min ago	0.57 bp	5.8 bp −$6	9.1 bp −$91	33.5 bp −$3,352	doesn't fit
Sell Coinbase International live order book, 3 min ago	2.04 bp	7.0 bp −$7	13.9 bp −$139	156.6 bp −$15.7K	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
Hibachi PAXG/USDT-P	−0.0184%	1h	4,344.2	−0.009%	$46K	$162K	20x	as long as short
Kraken Futures PF_PAXGUSDlong	−0.0101%	1h	4,344.6	long leg	$1.3M	$1.5M	20x
Lighter PAXG	−0.0064%	1h	4,342.7	−0.042%	$1.4M	$365K	25x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,341.9	−0.063%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,346.1	+0.035%	$15.7M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,340.3	−0.099%	$2K	$3.5M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,347.6	+0.070%	$7.9M	$843K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,346.6	+0.047%	$906K	$691K	75x	as long as short
ApeX Omni PAXGUSDT	+0.0003%	1h	4,343.4	−0.028%	$263K	$783K	50x	as long as short
GRVT PAXG_USDT_Perp	+0.0026%	4h	4,344	−0.013%	$1.5M	$1.9M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.063%	$1K	$151K	30x	as long as short
Extended PAXG-USD	+0.0040%	1h	4,342.8	−0.040%	$379K	$1.4M	25x	as long as short
MEXC PAXG_USDT	+0.0040%	4h	4,344.9	+0.007%	$16.2M	$1.0M	100x	as long as short
Binance PAXGUSDT	+0.0042%	4h	4,344	−0.013%	$80.3M	$70.4M	75x	as long as short
Aster PAXGUSDT	+0.0077%	4h	4,343.7	−0.021%	$906K	$26K	50x	as long as short
Hyperliquid PAXG	+0.0091%	1h	4,344.1	−0.011%	$20.8M	$2.3M	10x	as long as short
Paradex PAXG-USD-PERP	+0.0099%	8h	4,344.3	−0.006%	$81K	$3.4M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,343.2	−0.032%	$557	—	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,345.1	+0.013%	$1.0M	$353K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,344.7	+0.003%	$14.9M	$3.9M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,347	+0.056%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,345	+0.009%	$9.7M	$15.2M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,344.4	−0.003%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,344.4	−0.005%	$1.3M	$795K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,343.5	−0.025%	$12.3M	$222K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,339	−0.128%	$1.5M	$39K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,343.9	−0.015%	$21K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0248%	1h	4,347.5	+0.068%	$956K	$1.1M	50x
01 Exchange PAXGUSD	+0.0768%	1h	4,354.7	+0.233%	$29K	$24K	10x	as long as short