Funding you earn now, next payment 05:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h 0.000%
Price spread now: Backpack against Binance+0.032%7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$200.204% of the position
Funding, last 7 days+0.058%+$6 on $10k
+Price spread, last 7 days−0.013%−$1 · spread now +0.032%, 7d avg +0.033%
=The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance PAXGUSDT | 4,333.3 | 0.0073 | pay 0.0036% / 4h | 3h 49m | $79.9M | $71.2M | 75x |
| Short | Backpack PAXG_USDC_PERP | 4,334.7 | 0.0100 | get 0.0013% / 1h | 49m 51s | $1.3M | $801K | 50x |
Binance PAXGUSDT
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- $5.74
- Price spread: +0.032% → +0.033%
- −$0.06
- Slippage, 4 orders
- −$0.43
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$14.75
- Costs to cover
- 0.204%
- Break-even
- 25.0 days
Slippage from Binance: live order book, 8 min ago; Backpack: 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 Binance live order book, 8 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 9.5 bp −$950 | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.01 bp | 5.4 bp −$5 | 7.1 bp −$71 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni PAXGUSDT | −0.0232% | 1h | 4,332.1 | −0.027% | $262K | $788K | 50x | as long as short |
| Lighter PAXG | −0.0192% | 1h | 4,332.5 | −0.018% | $1.4M | $362K | 25x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0172% | 4h | 4,334.2 | +0.022% | $1.5M | $1.9M | 10x | as long as short |
| Hibachi PAXG/USDT-P | −0.0144% | 1h | 4,334.6 | +0.030% | $42K | $154K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,334.8 | +0.034% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,336.2 | +0.067% | $15.6M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,330.3 | −0.069% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,338.3 | +0.116% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,341.8 | +0.196% | $904K | $683K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.324% | $1K | $151K | 30x | as long as short |
ApeX Omni PAXGUSDT
Lighter PAXG
GRVT PAXG_USDT_Perp
Hibachi PAXG/USDT-P
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PAXGUSD | +0.0065% | 1h | 4,335 | +0.039% | $1.3M | $1.4M | 20x | as long as short |
| Extended PAXG-USD | +0.0072% | 1h | 4,332.3 | −0.023% | $378K | $1.4M | 25x | as long as short |
| Binance PAXGUSDTlong | +0.0073% | 4h | 4,333.3 | long leg | $79.9M | $71.2M | 75x | |
| MEXC PAXG_USDT | +0.0074% | 4h | 4,337 | +0.085% | $16.1M | $1.0M | 100x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,334.9 | +0.037% | $81K | $3.7M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,335.6 | +0.054% | $556 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,333.9 | +0.014% | $20.7M | $2.3M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,333.6 | +0.007% | $904K | $27K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,336.5 | +0.074% | $1.0M | $338K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,334.7 | +0.033% | $14.9M | $3.8M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,337.2 | +0.090% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,334.6 | +0.030% | $9.7M | $15.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,334.6 | +0.030% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,334.7 | +0.032% | $1.3M | $801K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,334.4 | +0.026% | $12.3M | $227K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,334 | +0.017% | $1.5M | $39K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,335.3 | +0.046% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,341 | +0.178% | $988K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0984% | 1h | 4,345.6 | +0.284% | $29K | $23K | 10x | as long as short |
Kraken Futures PF_PAXGUSD
Extended PAXG-USD
MEXC PAXG_USDT
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Aster PAXGUSDT
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