Funding you earn now, next payment 03:00 UTC−0.0165%/8h= −18.1% APRnext payment −$0.21 per $10,000 · paid last 24h −0.039%
Price spread now: Hibachi against Kraken Futures−0.083%7-day average −0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$480.477% of the position
Funding, last 7 days+0.154%+$15 on $10k
+Price spread, last 4 days (all we have)−0.025%−$2 · spread now −0.083%, 7d avg −0.023%
=Together, before fees+0.129%+ Points / potential airdropHibachi: Active · farm board+$13 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hibachi is 0.060% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.023%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.154%, 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 | Kraken Futures PF_PAXGUSD | 4,351.2 | 0.0173 | pay 0.0022% / 1h | 24m 55s | $1.3M | $1.4M | 20x |
| Short | Hibachi PAXG/USDT-P | 4,347.6 | 0.0008 | get 0.0001% / 1h | 24m 55s | $41K | $156K | 20x |
Kraken Futures PF_PAXGUSD
Hibachi PAXG/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi 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
- −$34.63
- Price spread: −0.083% → −0.023%
- −$5.99
- Slippage, 4 orders
- −$28.74
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$88.35
- Costs to cover
- 0.477%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 4 min ago; Hibachi: live order book, 39 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 | 0.46 bp | 6.9 bp −$7 | 11.6 bp −$116 | 36.9 bp −$3,688 | doesn't fit |
| Sell Hibachi live order book, 39 min ago | 0.20 bp | 16.5 bp −$16 | 50.6 bp −$506 | 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 | 4,349.5 | −0.040% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,352.7 | +0.035% | $15.7M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,345.5 | −0.130% | $2K | $3.7M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,353.1 | +0.044% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,352.9 | +0.039% | $906K | $655K | 75x | as long as short |
| Hibachi PAXG/USDT-Pshort | +0.0008% | 1h | 4,347.6 | −0.083% | $41K | $156K | 20x | |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.089% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0074% | 4h | 4,349.3 | −0.044% | $1.5M | $1.9M | 10x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,349.1 | −0.049% | $1.4M | $350K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,348.9 | −0.052% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
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 | 4,350.5 | −0.016% | $20.8M | $2.4M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,350.8 | −0.009% | $908K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,350.3 | −0.020% | $1.0M | $340K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,350.2 | −0.024% | $80.2M | $70.6M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,350.8 | −0.009% | $15.0M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,350.5 | −0.016% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,353.6 | +0.056% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,351.3 | +0.002% | $9.6M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,351.3 | +0.002% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,350.7 | −0.012% | $1.3M | $801K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,348.2 | −0.070% | $12.5M | $99K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,346.6 | −0.105% | $263K | $789K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,348.9 | −0.053% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,347 | −0.096% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,349.3 | −0.043% | $382K | $1.4M | 25x | as long as short |
| Kraken Futures PF_PAXGUSDlong | +0.0173% | 1h | 4,351.2 | long leg | $1.3M | $1.4M | 20x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,350.1 | −0.026% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,349.7 | −0.035% | $971K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0984% | 1h | 4,359.7 | +0.196% | $29K | $23K | 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
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