Funding you earn now, next payment 07:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.025%
Price spread now: Injective against Phemex+0.725%7-day average +0.139% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.096%−$10 on $10k
+Price spread, last 4 days (all we have)−0.572%−$57 · spread now +0.725%, 7d avg +0.139%
=The price spread pays, funding is against you. Injective is 0.586% dearer against Phemex than usual: you sell high and buy low (spread +0.725% now, against its 7-day average of +0.139%): +$59 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 29 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,316 | 0.0100 | pay 0.0050% / 4h | 1h 16m | $1.5M | $52K | 50x |
| Short | Injective PAXG/USDC PERP | 4,347.3 | 0.0033 | get 0.0004% / 1h | 16m 40s | $1K | $151K | 30x |
Phemex PAXGUSDT
Injective PAXG/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$14
- Price spread: +0.725% → +0.139%
- $58.59
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $32.57
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Phemex: live order book, 1 min ago; Injective: no order-book sample. Net counts fees only.
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, 1 min ago | 4.63 bp | 25.5 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | +0.002% | $1.4M | $468K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0128% | 1h | 4,318.1 | +0.048% | $42K | $168K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0110% | 4h | 4,318.4 | +0.057% | $1.5M | $2.0M | 10x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0044% | 1h | 4,319.5 | +0.082% | $1.2M | $1.9M | 20x | as long as short |
| Extended PAXG-USD | −0.0008% | 1h | 4,316.9 | +0.021% | $378K | $625K | 25x | as long as short |
| Binance PAXGUSDT | −0.0008% | 4h | 4,318.1 | +0.048% | $79.6M | $75.2M | 75x | as long as short |
| MEXC PAXG_USDT | −0.0006% | 4h | 4,323.2 | +0.167% | $16.6M | $1.1M | 100x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,317.9 | +0.044% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,320 | +0.093% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,314.4 | −0.037% | $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 | 4,322.2 | +0.145% | $7.9M | $850K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,322.2 | +0.142% | $904K | $774K | 75x | as long as short |
| Aster PAXGUSDT | +0.0010% | 4h | 4,320 | +0.093% | $901K | $27K | 50x | as long as short |
| ApeX Omni PAXGUSDT | +0.0032% | 1h | 4,318.1 | +0.048% | $261K | $772K | 50x | as long as short |
| Injective PAXG/USDC PERPshort | +0.0033% | 1h | 4,347.3 | +0.725% | $1K | $151K | 30x | |
| Paradex PAXG-USD-PERP | +0.0098% | 8h | 4,318 | +0.046% | $85K | $3.3M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,317.5 | +0.035% | $554 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,318.5 | +0.058% | $20.8M | $2.4M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,320.1 | +0.094% | $1.0M | $316K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,318.9 | +0.068% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,321 | +0.117% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,319.2 | +0.073% | $9.4M | $16.5M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,319 | +0.070% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,318.7 | +0.062% | $1.3M | $826K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,317.7 | +0.039% | $12.3M | $223K | — | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,316 | long leg | $1.5M | $52K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,317.9 | +0.045% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,322.2 | +0.143% | $949K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0792% | 1h | 4,328.7 | +0.294% | $29K | $23K | 10x | as long as short |
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Aster PAXGUSDT
ApeX Omni PAXGUSDT
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
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