PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0200%/8h= +21.9% APRnext payment +$0.25 per $10,000 · paid last 24h +0.056%

Price spread now: Coinbase International against Lighter+0.130%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$170.172% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.285%+$28 on $10k

Price spread, last 3 days (all we have)+0.014%+$1 · spread now +0.130%, 7d avg +0.101%

Together, before fees+0.299%+ Points / potential airdropLighter: Season 3 · farm board+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.029% dearer against Lighter than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PAXG	4,356.9	0.0096	pay 0.0012% / 1h	42m 10s	$1.4M	$270K	25x
Short	Coinbase International PAXG-PERP-INTX	4,362.5	0.0296	get 0.0037% / 1h	42m 10s	$976K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.130%Rate

Funding earned: $42
Price spread: +0.130% → +0.101%: $2.95
Slippage, 4 orders: −$7.18
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $27.77
Costs to cover: 0.172%
Break-even: 2.4 days

Slippage from Lighter: live order book, 4 min ago; Coinbase International: live order book, 1 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 Lighter live order book, 4 min ago	0.72 bp	1.3 bp −$1	3.2 bp −$32	20.7 bp −$2,067	doesn't fit
Sell Coinbase International live order book, 1 min ago	1.58 bp	6.6 bp −$7	12.4 bp −$124	166.8 bp −$16.7K	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
Injective PAXG/USDC PERP	−0.0007%	1h	4,347.3	−0.220%	$1K	$151K	30x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,358.3	+0.033%	$102K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,359.6	+0.063%	$15.8M	$3.6M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,353.6	−0.074%	$1K	$3.9M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,361.5	+0.105%	$7.9M	$866K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,363.4	+0.150%	$911K	$634K	75x	as long as short
Lighter PAXGlong	+0.0096%	1h	4,356.9	long leg	$1.4M	$270K	25x
ApeX Omni PAXGUSDT	+0.0097%	1h	4,354.4	−0.058%	$263K	$796K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0100%	8h	4,358.1	+0.028%	$81K	$3.7M	50x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,357.7	+0.019%	$20.4M	$1.8M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PAXGUSDT	+0.0100%	4h	4,357.9	+0.024%	$909K	$30K	50x	as long as short
Pacifica PAXG	+0.0100%	1h	4,360.4	+0.081%	$1.0M	$344K	10x	as long as short
Binance PAXGUSDT	+0.0100%	4h	4,357.3	+0.011%	$80.0M	$68.6M	75x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,358.5	+0.037%	$15.2M	$3.6M	75x	as long as short
MEXC PAXG_USDT	+0.0100%	4h	4,356.8	−0.002%	$16.1M	$1.2M	100x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,360.2	+0.076%	$27.0M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,358.3	+0.034%	$9.9M	$14.0M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,358.3	+0.033%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,358.5	+0.037%	$1.4M	$971K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,357.9	+0.024%	$12.5M	$104K	—	as long as short
GRVT PAXG_USDT_Perp	+0.0100%	4h	4,355.6	−0.028%	$1.5M	$1.9M	10x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,358.6	+0.040%	$559	—	10x	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,355	−0.043%	$1.5M	$38K	50x	as long as short
Extended PAXG-USD	+0.0104%	1h	4,358	+0.026%	$378K	$1.2M	25x	as long as short
Hibachi PAXG/USDT-P	+0.0152%	1h	4,357.5	+0.014%	$48K	$141K	20x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,359.4	+0.058%	$21K	—	100x	as long as short
Kraken Futures PF_PAXGUSD	+0.0286%	1h	4,358.8	+0.044%	$1.3M	$1.4M	20x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0296%	1h	4,362.5	+0.130%	$976K	$1.1M	50x
01 Exchange PAXGUSD	+0.1000%	1h	4,442.7	+1.970%	$30K	$23K	10x	as long as short