Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.50 per $10,000 · paid last 24h −0.028%
Price spread now: HTX against Phemex+0.105%7-day average +0.198% · you sell dearer than you buy
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs−$92as in the Price arb table
costs, in and out, $10k−$830.827% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 4 days (all we have)+0.097%+$10 · spread now +0.105%, 7d avg +0.198%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.093% cheaper against Phemex than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.198%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,322 | 0.0100 | pay 0.0050% / 4h | 34m 05s | $1.5M | $52K | 50x |
| Short | HTX PAXG-USDT | 4,326.5 | 0 | get 0.0000% / 4h | 34m 05s | $904K | $784K | 75x |
Phemex PAXGUSDT
HTX PAXG-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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: +0.105% → +0.198%
- −$9.3
- Slippage, 4 orders
- −$58.67
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$112.97
- Costs to cover
- 0.827%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; HTX: 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 Phemex live order book, 4 min ago | 5.79 bp | 24.4 bp −$24 | doesn't fit | doesn't fit | doesn't fit |
| Sell HTX live order book, 5 min ago | 1.02 bp | 13.1 bp −$13 | 15.9 bp −$159 | 19.1 bp −$1,908 | 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 | −0.0168% | 1h | 4,319.2 | −0.065% | $1.4M | $482K | 25x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0104% | 4h | 4,321.8 | −0.004% | $1.5M | $2.0M | 10x | as long as short |
| Hibachi PAXG/USDT-P | −0.0104% | 1h | 4,321.6 | −0.010% | $41K | $168K | 20x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0055% | 1h | 4,322.1 | +0.003% | $1.2M | $1.8M | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,321.4 | −0.013% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,322.9 | +0.021% | $15.6M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,317.5 | −0.103% | $2K | $3.2M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,325.4 | +0.078% | $7.9M | $659K | 50x | as long as short |
| HTX PAXG-USDTshort | 0.0000% | 4h | 4,326.5 | +0.105% | $904K | $784K | 75x | |
| MEXC PAXG_USDT | +0.0012% | 4h | 4,326.3 | +0.100% | $16.6M | $1.0M | 100x | as long as short |
Lighter PAXG
GRVT PAXG_USDT_Perp
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
MEXC PAXG_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance PAXGUSDT | +0.0014% | 4h | 4,320.7 | −0.031% | $79.7M | $74.1M | 75x | as long as short |
| Extended PAXG-USD | +0.0016% | 1h | 4,320 | −0.046% | $376K | $1.6M | 25x | as long as short |
| Aster PAXGUSDT | +0.0022% | 4h | 4,321.9 | −0.003% | $902K | $29K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.585% | $1K | $151K | 30x | as long as short |
| ApeX Omni PAXGUSDT | +0.0056% | 1h | 4,318.9 | −0.071% | $262K | $773K | 50x | as long as short |
| Bitget PAXGUSDT | +0.0076% | 4h | 4,320.7 | −0.029% | $9.4M | $15.9M | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0099% | 8h | 4,320.2 | −0.042% | $85K | $3.5M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,320.5 | −0.035% | $554 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,321.3 | −0.016% | $20.8M | $2.4M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,322.8 | +0.019% | $1.0M | $303K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,321.6 | −0.009% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,323.3 | +0.031% | $28.7M | $5.3M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,322.3 | +0.007% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,321.3 | −0.016% | $1.3M | $822K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,320.3 | −0.039% | $12.3M | $218K | — | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,322 | long leg | $1.5M | $52K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,320 | −0.047% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0224% | 1h | 4,325.9 | +0.091% | $950K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0912% | 1h | 4,331.5 | +0.220% | $29K | $23K | 10x | as long as short |
Binance PAXGUSDT
Extended PAXG-USD
Aster PAXGUSDT
Injective PAXG/USDC PERP
ApeX Omni PAXGUSDT
Bitget PAXGUSDT
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD