PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0065%/8h= −7.1% APRnext payment −$0.08 per $10,000 · paid last 24h −0.034%

Price spread now: Deribit against Kraken Futures+0.064%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

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

costs, in and out, $10k−$310.310% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.543%−$54 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now +0.064%, 7d avg +0.032%

Together, before fees−0.614%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.032% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of +0.032%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 7 days (−0.543% 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	4,335.6	0.0065	pay 0.0008% / 1h	44m 31s	$1.3M	$1.4M	20x
Short	Deribit PAXG_USDC-PERPETUAL	4,338.4	0	get 0.0000% / 1h	44m 31s	$7.9M	$868K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$13.71
Price spread: +0.064% → +0.032%: $3.17
Slippage, 4 orders: −$13.97
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$41.51
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Deribit: live order book, 5 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, 4 min ago	0.58 bp	6.8 bp −$7	10.9 bp −$109	35.2 bp −$3,518	doesn't fit
Sell Deribit live order book, 5 min ago	3.68 bp	7.2 bp −$7	14.0 bp −$140	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
Lighter PAXG	−0.0160%	1h	4,334	−0.036%	$1.4M	$362K	25x	as long as short
Hibachi PAXG/USDT-P	−0.0160%	1h	4,336	+0.009%	$42K	$154K	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0144%	4h	4,333.7	−0.044%	$1.5M	$1.9M	10x	as long as short
ApeX Omni PAXGUSDT	−0.0086%	1h	4,335.3	−0.006%	$262K	$787K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,334.8	−0.019%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,337.8	+0.051%	$15.6M	$3.4M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,328.7	−0.160%	$2K	$3.6M	20x	as long as short
Deribit PAXG_USDC-PERPETUALshort	0.0000%	1h	4,338.4	+0.064%	$7.9M	$868K	50x
HTX PAXG-USDT	0.0000%	4h	4,340.6	+0.114%	$903K	$684K	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.270%	$1K	$151K	30x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PAXGUSDT	+0.0062%	4h	4,335.4	−0.004%	$80.0M	$71.2M	75x	as long as short
Extended PAXG-USD	+0.0064%	1h	4,334.2	−0.032%	$378K	$1.4M	25x	as long as short
MEXC PAXG_USDT	+0.0064%	4h	4,337.6	+0.045%	$16.1M	$1.0M	100x	as long as short
Kraken Futures PF_PAXGUSDlong	+0.0065%	1h	4,335.6	long leg	$1.3M	$1.4M	20x
Paradex PAXG-USD-PERP	+0.0100%	8h	4,335.8	+0.003%	$81K	$3.7M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,334.6	−0.023%	$556	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,336.1	+0.011%	$20.7M	$2.4M	10x	as long as short
Aster PAXGUSDT	+0.0100%	4h	4,335.8	+0.005%	$905K	$27K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,337.7	+0.048%	$1.0M	$338K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,336.8	+0.027%	$14.9M	$3.8M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,338.2	+0.059%	$28.6M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,336.4	+0.018%	$9.7M	$15.2M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,336.5	+0.021%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,336.4	+0.018%	$1.3M	$800K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,336	+0.009%	$12.3M	$227K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,333	−0.060%	$1.5M	$39K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,333.4	−0.052%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0296%	1h	4,336.7	+0.025%	$987K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.1016%	1h	4,346.7	+0.256%	$29K	$23K	10x	as long as short