Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.028%
Price spread now: HTX against Backpack+0.089%7-day average +0.129% · you sell dearer than you buy
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$480.479% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 4 days (all we have)+0.054%+$5 · spread now +0.089%, 7d avg +0.129%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.039% cheaper against Backpack than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.129%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PAXG_USDC_PERP | 4,316.4 | 0.0100 | pay 0.0013% / 1h | 49m 54s | $1.3M | $811K | 50x |
| Short | HTX PAXG-USDT | 4,320.2 | 0 | get 0.0000% / 4h | 1h 49m | $906K | $761K | 75x |
Backpack PAXG_USDC_PERP
HTX PAXG-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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: +0.089% → +0.129%
- −$3.93
- Slippage, 4 orders
- −$25.95
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$72.88
- Costs to cover
- 0.479%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 4 min ago; HTX: live order book, 59 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, 4 min ago | 0.01 bp | 5.9 bp −$6 | 6.8 bp −$68 | 122.9 bp −$12.3K | doesn't fit |
| Sell HTX live order book, 59 min ago | 1.64 bp | 12.3 bp −$12 | 14.3 bp −$143 | 17.5 bp −$1,754 | 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 | −0.0192% | 1h | 4,314.6 | −0.041% | $1.4M | $430K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0168% | 1h | 4,318.2 | +0.043% | $46K | $169K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0090% | 4h | 4,318.8 | +0.056% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | −0.0062% | 1h | 4,317.8 | +0.032% | $261K | $771K | 50x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0044% | 1h | 4,317 | +0.015% | $1.2M | $1.9M | 20x | as long as short |
| Binance PAXGUSDT | −0.0001% | 4h | 4,317.2 | +0.020% | $79.5M | $74.7M | 75x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,317.9 | +0.035% | $101K | $12K | 5x | as long as short |
| Extended PAXG-USD | 0.0000% | 1h | 4,315.6 | −0.017% | $378K | $1.4M | 25x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,318.5 | +0.050% | $15.6M | $3.8M | 100x | as long as short |
| MEXC PAXG_USDT | 0.0000% | 4h | 4,322.6 | +0.145% | $16.5M | $1.0M | 100x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Kraken Futures PF_PAXGUSD
Binance PAXGUSDT
dYdX PAXG-USD
Extended PAXG-USD
Gate PAXG_USDT
MEXC PAXG_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX PAXG-USDT | 0.0000% | 4h | 4,312.6 | −0.086% | $2K | $3.4M | 20x | as long as short |
| HTX PAXG-USDTshort | 0.0000% | 4h | 4,320.2 | +0.089% | $906K | $761K | 75x | |
| Aster PAXGUSDT | +0.0020% | 4h | 4,319 | +0.060% | $901K | $27K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.717% | $1K | $151K | 30x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | +0.0082% | 1h | 4,321.9 | +0.127% | $7.9M | $849K | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0097% | 8h | 4,315.8 | −0.013% | $85K | $3.2M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,315.9 | −0.011% | $554 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,316.3 | −0.001% | $20.7M | $2.4M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,317.7 | +0.031% | $1.0M | $320K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,318.3 | +0.044% | $14.9M | $4.1M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,319.3 | +0.067% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,317 | +0.015% | $9.4M | $16.5M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,317.9 | +0.036% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,316.4 | long leg | $1.3M | $811K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,315.3 | −0.024% | $12.2M | $221K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,316 | −0.008% | $1.5M | $52K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,316 | −0.009% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,319.3 | +0.068% | $975K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0800% | 1h | 4,326.8 | +0.242% | $29K | $23K | 10x | as long as short |
SunX PAXG-USDT
Aster PAXGUSDT
Injective PAXG/USDC PERP
Deribit PAXG_USDC-PERPETUAL
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Variational Omni PAXG
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD