Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.038%
Price spread now: dYdX against Backpack−0.058%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$500.499% of the position
Funding, last 7 days−0.252%−$25 on $10k
+Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.058%, 7d avg −0.015%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.043% cheaper against Backpack than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.015%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PAXG_USDC_PERP | 4,349.8 | 0.0100 | pay 0.0013% / 1h | 14m 03s | $1.4M | $954K | 50x |
| Short | dYdX PAXG-USD | 4,347.3 | 0 | get 0.0000% / 1h | 14m 03s | $101K | $12K | 5x |
Backpack PAXG_USDC_PERP
dYdX PAXG-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Backpack. 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: −0.058% → −0.015%
- −$4.26
- Slippage, 4 orders
- −$29.94
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$75.21
- Costs to cover
- 0.499%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 5 min ago; dYdX: 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 Backpack live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 6.1 bp −$61 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 5 min ago | 14.96 bp | 20.0 bp −$20 | 109.9 bp −$1,099 | 211.9 bp −$21.2K | 958.0 bp −$479.0K |
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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USDshort | 0.0000% | 1h | 4,347.3 | −0.058% | $101K | $12K | 5x | |
| Gate PAXG_USDT | 0.0000% | 8h | 4,350.9 | +0.026% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,341.7 | −0.185% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,352.6 | +0.064% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,351.1 | +0.031% | $909K | $645K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.057% | $1K | $151K | 30x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,350.5 | +0.018% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,348.2 | −0.037% | $1.4M | $273K | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0096% | 1h | 4,348.2 | −0.037% | $47K | $139K | 20x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,347.8 | −0.046% | $80K | $3.7M | 50x | as long as short |
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
Kraken Futures PF_PAXGUSD
Lighter PAXG
Hibachi PAXG/USDT-P
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,349.7 | −0.002% | $20.3M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,348.7 | −0.025% | $908K | $27K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,348.8 | −0.023% | $1.0M | $344K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,350 | +0.005% | $80.1M | $67.1M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,350.9 | +0.026% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,345.1 | −0.108% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,350.2 | +0.011% | $26.8M | $5.2M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,350 | +0.006% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,348.9 | −0.021% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,349.8 | long leg | $1.4M | $954K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,348.2 | −0.036% | $12.5M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,348.2 | −0.036% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,347.5 | −0.053% | $263K | $797K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,347.9 | −0.043% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,346 | −0.087% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,349.1 | −0.014% | $378K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,349.3 | −0.010% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,351.8 | +0.047% | $975K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1328% | 1h | 4,359.8 | +0.231% | $29K | $22K | 10x | as long as short |
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD