Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Backpack against KuCoin−0.045%7-day average −0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$290.287% of the position
Funding, last 7 days−0.001%$0 on $10k
+Price spread, last 7 days+0.163%+$16 · spread now −0.045%, 7d avg −0.014%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.030% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.014%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin PAXGUSDTM | 4,320.7 | 0.0100 | pay 0.0050% / 4h | 1h 20m | $28.6M | $5.3M | 30x |
| Short | Backpack PAXG_USDC_PERP | 4,318.8 | 0.0100 | get 0.0013% / 1h | 20m 39s | $1.3M | $826K | 50x |
KuCoin PAXGUSDTM
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against KuCoin. 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
- $0
- Price spread: −0.045% → −0.014%
- −$3.02
- Slippage, 4 orders
- −$6.66
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$31.68
- Costs to cover
- 0.287%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 8 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 KuCoin live order book, 8 min ago | 0.31 bp | 8.2 bp −$8 | 23.2 bp −$232 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.01 bp | 5.1 bp −$5 | 6.0 bp −$60 | 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 | −0.0184% | 1h | 4,316.1 | −0.106% | $1.4M | $466K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0120% | 1h | 4,318.2 | −0.058% | $42K | $168K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0110% | 4h | 4,317.6 | −0.073% | $1.5M | $2.0M | 10x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0044% | 1h | 4,318.8 | −0.044% | $1.2M | $1.9M | 20x | as long as short |
| Extended PAXG-USD | −0.0008% | 1h | 4,317.2 | −0.081% | $378K | $625K | 25x | as long as short |
| Binance PAXGUSDT | −0.0006% | 4h | 4,318.2 | −0.057% | $79.6M | $75.1M | 75x | as long as short |
| MEXC PAXG_USDT | −0.0006% | 4h | 4,323 | +0.053% | $16.5M | $1.0M | 100x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,317.9 | −0.065% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,319.7 | −0.023% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,314.3 | −0.149% | $2K | $3.4M | 20x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
Kraken Futures PF_PAXGUSD
Extended PAXG-USD
Binance PAXGUSDT
MEXC PAXG_USDT
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,322.4 | +0.039% | $7.9M | $850K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,322 | +0.031% | $903K | $771K | 75x | as long as short |
| Aster PAXGUSDT | +0.0011% | 4h | 4,320 | −0.016% | $901K | $27K | 50x | as long as short |
| ApeX Omni PAXGUSDT | +0.0023% | 1h | 4,316 | −0.109% | $261K | $773K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.616% | $1K | $151K | 30x | as long as short |
| Paradex PAXG-USD-PERP | +0.0098% | 8h | 4,318.7 | −0.046% | $85K | $3.3M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,317.2 | −0.081% | $554 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,318.5 | −0.052% | $20.8M | $2.4M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,320 | −0.016% | $1.0M | $316K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,318.5 | −0.050% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTMlong | +0.0100% | 4h | 4,320.7 | long leg | $28.6M | $5.3M | 30x | |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,318.3 | −0.055% | $9.4M | $16.5M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,318.6 | −0.050% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,318.8 | −0.045% | $1.3M | $826K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,317.7 | −0.069% | $12.3M | $223K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,316 | −0.109% | $1.5M | $52K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,317.5 | −0.075% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,321 | +0.006% | $946K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0792% | 1h | 4,328.8 | +0.188% | $29K | $23K | 10x | as long as short |
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Aster PAXGUSDT
ApeX Omni PAXGUSDT
Injective PAXG/USDC PERP
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
Bitget PAXGUSDT
BingX PAXG-USDT
Variational Omni PAXG
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD