Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: SunX against Backpack−0.138%49s7-day average −0.125% · you buy dearer than you sell
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$750.752% of the position
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 3 days (all we have)+0.048%+$5 · spread now −0.138%, 7d avg −0.125%
=The price spread sits at its 7-day average of −0.125%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PAXG_USDC_PERP | 4,335.2 | 0.0100 | pay 0.0013% / 1h | 4m 16s | $1.4M | $1.3M | 50x |
| Short | SunX PAXG-USDT | 4,329.2 | 0 | get 0.0000% / 4h | 2h 04m | $2K | $4.1M | 20x |
Backpack PAXG_USDC_PERP
SunX PAXG-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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: −0.138% → −0.125%
- −$1.34
- Slippage, 4 orders
- −$57.15
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$97.49
- Costs to cover
- 0.752%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 5 min ago; SunX: live order book, 4 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 | 7.3 bp −$73 | doesn't fit | doesn't fit |
| Sell SunX live order book, 4 min ago | 21.54 bp | 25.5 bp −$26 | 55.1 bp −$551 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | −0.0101% | 1h | 4,337 | +0.041% | $1K | $121K | 30x | as long as short |
| Hibachi PAXG/USDT-P | −0.0072% | 1h | 4,333.7 | −0.035% | $41K | $150K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,336.4 | +0.026% | $101K | $18K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,335.9 | +0.015% | $15.7M | $4.3M | 100x | as long as short |
| SunX PAXG-USDTshort | 0.0000% | 4h | 4,329.2 | −0.138% | $2K | $4.1M | 20x | |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,337.3 | +0.047% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,339.2 | +0.092% | $907K | $661K | 75x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,332 | −0.075% | $1.4M | $521K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,333 | −0.052% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,333.5 | −0.040% | $20.2M | $2.0M | 10x | as long as short |
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
dYdX PAXG-USD
Gate PAXG_USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Lighter PAXG
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 | 4,333.3 | −0.044% | $905K | $75K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,334.2 | −0.023% | $1.0M | $371K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,333.1 | −0.048% | $79.8M | $70.7M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,334.3 | −0.022% | $15.1M | $3.9M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,334.9 | −0.009% | $15.9M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,335.9 | +0.016% | $26.7M | $5.5M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,333.9 | −0.031% | $9.2M | $14.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,334.2 | −0.024% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPlong | +0.0100% | 1h | 4,335.2 | long leg | $1.4M | $1.3M | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,334.3 | −0.022% | $12.4M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,334 | −0.028% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,332.4 | −0.066% | $262K | $798K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,334.1 | −0.026% | $556 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,331 | −0.098% | $1.5M | $40K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,332.6 | −0.061% | $377K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,333.8 | −0.033% | $20K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0224% | 1h | 4,334.6 | −0.016% | $1.3M | $1.6M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,337.8 | +0.059% | $1.0M | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1456% | 1h | 4,351.1 | +0.366% | $29K | $21K | 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