Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.003%
Price spread now: Lighter against Backpack−0.032%7-day average −0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$130.134% of the position
Funding, last 7 days−0.012%−$1 on $10k
+Price spread, last 7 days+0.495%+$49 · spread now −0.032%, 7d avg −0.016%
=Together, before fees+0.482%+ Points / potential airdropLighter: Season 3 · farm board+$48 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PAXG_USDC_PERP | 4,353.5 | 0.0100 | pay 0.0013% / 1h | 48m 06s | $1.4M | $806K | 50x |
| Short | Lighter PAXG | 4,352.1 | 0.0096 | get 0.0012% / 1h | 48m 06s | $1.4M | $277K | 25x |
Backpack PAXG_USDC_PERP
Lighter PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$0.84
- Price spread: −0.032% → −0.016%
- −$1.6
- Slippage, 4 orders
- −$3.38
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$15.82
- Costs to cover
- 0.134%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; Lighter: live order book, 3 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, 1 min ago | 0.01 bp | 5.5 bp −$6 | 6.4 bp −$64 | 63.9 bp −$6,392 | doesn't fit |
| Sell Lighter live order book, 3 min ago | 1.05 bp | 1.5 bp −$1 | 6.1 bp −$61 | 21.5 bp −$2,152 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,358.1 | +0.106% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,355.5 | +0.045% | $15.7M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,349.2 | −0.099% | $2K | $3.8M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,355.9 | +0.056% | $7.9M | $873K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,358.9 | +0.122% | $907K | $631K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.143% | $1K | $151K | 30x | as long as short |
| Hibachi PAXG/USDT-P | +0.0072% | 1h | 4,356 | +0.056% | $42K | $160K | 20x | as long as short |
| Lighter PAXGshort | +0.0096% | 1h | 4,352.1 | −0.032% | $1.4M | $277K | 25x | |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,354.7 | +0.028% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,352.9 | −0.014% | $20.7M | $2.1M | 10x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
Paradex PAXG-USD-PERP
Hyperliquid PAXGShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PAXGUSDT | +0.0100% | 4h | 4,354.6 | +0.025% | $908K | $29K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,357.7 | +0.095% | $1.0M | $367K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,352.7 | −0.020% | $80.3M | $71.0M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,354.2 | +0.016% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,353.6 | +0.001% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,355.9 | +0.054% | $28.4M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,353.2 | −0.008% | $9.7M | $15.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,353.3 | −0.004% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,353.5 | long leg | $1.4M | $806K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,358.7 | +0.118% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,357.5 | +0.092% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,357 | +0.081% | $264K | $785K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,353.2 | −0.007% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,354 | +0.011% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,351.8 | −0.040% | $379K | $1.4M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,352.7 | −0.018% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0247% | 1h | 4,353.2 | −0.008% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0312% | 1h | 4,359.1 | +0.129% | $973K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1016% | 1h | 4,366.3 | +0.294% | $29K | $23K | 10x | as long as short |
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
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD