Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: Gate against Phemex+0.145%7-day average +0.111% · you sell dearer than you buy
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$710.707% of the position
Funding, last 7 days−0.169%−$17 on $10k
+Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.145%, 7d avg +0.111%
=The price spread pays, funding is against you. Gate is 0.035% dearer against Phemex than usual: you sell high and buy low (spread +0.145% now, against its 7-day average of +0.111%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 28 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,339 | 0.0100 | pay 0.0050% / 4h | 2h 49m | $1.5M | $39K | 50x |
| Short | Gate PAXG_USDT | 4,345.3 | 0 | get 0.0000% / 8h | 2h 49m | $15.6M | $3.3M | 100x |
Phemex PAXGUSDT
Gate PAXG_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Phemex. 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
- −$21
- Price spread: +0.145% → +0.111%
- $3.45
- Slippage, 4 orders
- −$43.73
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$88.28
- Costs to cover
- 0.707%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 3 min ago; Gate: live order book, 4 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 Phemex live order book, 3 min ago | 1.15 bp | 28.7 bp −$29 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 4 min ago | 0.46 bp | 11.2 bp −$11 | 15.1 bp −$151 | 25.4 bp −$2,535 | 58.8 bp −$29.4K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0200% | 1h | 4,343.5 | +0.104% | $46K | $158K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0101% | 1h | 4,344.2 | +0.120% | $1.3M | $1.5M | 20x | as long as short |
| Lighter PAXG | −0.0064% | 1h | 4,342.1 | +0.072% | $1.4M | $365K | 25x | as long as short |
| ApeX Omni PAXGUSDT | −0.0021% | 1h | 4,338.3 | −0.015% | $262K | $784K | 50x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,341.9 | +0.066% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDTshort | 0.0000% | 8h | 4,345.3 | +0.145% | $15.6M | $3.3M | 100x | |
| SunX PAXG-USDT | 0.0000% | 4h | 4,340.5 | +0.035% | $2K | $3.5M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,347.3 | +0.191% | $7.9M | $843K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,344.9 | +0.136% | $905K | $691K | 75x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0008% | 4h | 4,340.6 | +0.037% | $1.5M | $1.9M | 10x | as long as short |
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
Lighter PAXG
ApeX Omni PAXGUSDT
dYdX PAXG-USD
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
GRVT PAXG_USDT_PerpShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.191% | $1K | $151K | 30x | as long as short |
| MEXC PAXG_USDT | +0.0038% | 4h | 4,344.5 | +0.127% | $16.2M | $1.0M | 100x | as long as short |
| Extended PAXG-USD | +0.0040% | 1h | 4,342.2 | +0.073% | $379K | $1.4M | 25x | as long as short |
| Binance PAXGUSDT | +0.0040% | 4h | 4,343.4 | +0.102% | $80.2M | $70.4M | 75x | as long as short |
| Aster PAXGUSDT | +0.0076% | 4h | 4,343.4 | +0.102% | $906K | $26K | 50x | as long as short |
| Hyperliquid PAXG | +0.0092% | 1h | 4,343.4 | +0.101% | $20.8M | $2.3M | 10x | as long as short |
| Paradex PAXG-USD-PERP | +0.0099% | 8h | 4,343.8 | +0.111% | $81K | $3.4M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,342.9 | +0.090% | $557 | — | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,344.8 | +0.133% | $1.0M | $353K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,343.6 | +0.105% | $14.9M | $3.8M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,346.4 | +0.171% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,343.3 | +0.100% | $9.7M | $15.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,343.6 | +0.105% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,344 | +0.114% | $1.3M | $793K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,342.8 | +0.087% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,339 | long leg | $1.5M | $39K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,342.8 | +0.088% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0248% | 1h | 4,347.5 | +0.197% | $956K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0768% | 1h | 4,354.2 | +0.350% | $29K | $24K | 10x | as long as short |
Injective PAXG/USDC PERP
MEXC PAXG_USDT
Extended PAXG-USD
Binance PAXGUSDT
Aster PAXGUSDT
Hyperliquid PAXG
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD