PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0128%/8h= +14.0% APRnext payment +$0.16 per $10,000 · paid last 24h −0.023%

Price spread now: Deribit against Lighter+0.149%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.193%−$19 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.149%, 7d avg +0.069%

Together, before fees−0.245%+ Points / potential airdropLighter: Season 3 · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.080% dearer against Lighter than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.069%. Mind the row above: over the last 7 days funding on this pair cost −0.193%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PAXG	4,325	−0.0128	get 0.0016% / 1h	4m 32s	$1.4M	$392K	25x
Short	Deribit PAXG_USDC-PERPETUAL	4,331.4	0	get 0.0000% / 1h	4m 32s	$7.9M	$835K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.149%Rate

Funding earned: $26.88
Price spread: +0.149% → +0.069%: $7.97
Slippage, 4 orders: −$13.14
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $14.71
Costs to cover: 0.201%
Break-even: 3.2 days

Slippage from Lighter: live order book, 2 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 Lighter live order book, 2 min ago	1.52 bp	1.7 bp −$2	3.7 bp −$37	19.6 bp −$1,964	doesn't fit
Sell Deribit live order book, 5 min ago	3.57 bp	7.1 bp −$7	13.8 bp −$138	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 PAXGlong	−0.0128%	1h	4,325	long leg	$1.4M	$392K	25x
Hibachi PAXG/USDT-P	−0.0112%	1h	4,330.2	+0.121%	$42K	$165K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0102%	1h	4,327.9	+0.069%	$1.2M	$1.9M	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0058%	4h	4,330.7	+0.134%	$1.5M	$2.0M	10x	as long as short
ApeX Omni PAXGUSDT	−0.0002%	1h	4,329.5	+0.104%	$262K	$783K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,328.9	+0.091%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,328.9	+0.091%	$15.6M	$3.8M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,324.5	−0.012%	$2K	$3.4M	20x	as long as short
Deribit PAXG_USDC-PERPETUALshort	0.0000%	1h	4,331.4	+0.149%	$7.9M	$835K	50x
HTX PAXG-USDT	0.0000%	4h	4,333.3	+0.192%	$903K	$743K	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PAXG-USD	+0.0016%	1h	4,324.7	−0.005%	$376K	$1.4M	25x	as long as short
MEXC PAXG_USDT	+0.0016%	4h	4,328	+0.070%	$16.4M	$1.1M	100x	as long as short
Binance PAXGUSDT	+0.0017%	4h	4,326.6	+0.037%	$79.8M	$74.3M	75x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.517%	$1K	$151K	30x	as long as short
Aster PAXGUSDT	+0.0042%	4h	4,328.8	+0.089%	$903K	$27K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0097%	8h	4,326.3	+0.032%	$81K	$3.2M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,327.7	+0.064%	$555	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,326.7	+0.040%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,328.6	+0.084%	$1.0M	$336K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,326.9	+0.045%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,329.1	+0.096%	$28.5M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,325.7	+0.017%	$9.3M	$16.1M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,327.8	+0.067%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,327.5	+0.059%	$1.3M	$810K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,330	+0.117%	$12.3M	$221K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,325	+0.001%	$1.5M	$45K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,327.4	+0.057%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTX	+0.0248%	1h	4,333.5	+0.197%	$978K	$1.1M	50x	as long as short
01 Exchange PAXGUSD	+0.0856%	1h	4,390.5	+1.516%	$29K	$24K	10x	as long as short