Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.038%
Price spread now: dYdX against Bybit−0.064%7-day average −0.012% · 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−$76as in the Price arb table
costs, in and out, $10k−$710.708% of the position
Funding, last 7 days−0.252%−$25 on $10k
+Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.064%, 7d avg −0.012%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.051% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.012%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PAXGUSDT | 4,369.9 | 0.0100 | pay 0.0050% / 4h | 3h 49m | $15.2M | $3.7M | 75x |
| Short | dYdX PAXG-USD | 4,367.1 | 0 | get 0.0000% / 1h | 49m 09s | $102K | $12K | 5x |
Bybit PAXGUSDT
dYdX PAXG-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Bybit. 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: −0.064% → −0.012%
- −$5.14
- Slippage, 4 orders
- −$49.83
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$96.97
- Costs to cover
- 0.708%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 4 min ago; dYdX: live order book, 25 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 Bybit live order book, 4 min ago | 0.11 bp | 6.6 bp −$7 | 10.3 bp −$103 | 26.9 bp −$2,688 | doesn't fit |
| Sell dYdX live order book, 25 min ago | 22.96 bp | 28.0 bp −$28 | 135.9 bp −$1,359 | 250.2 bp −$25.0K | 1091.6 bp −$545.8K |
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 | 4,367.1 | −0.064% | $102K | $12K | 5x | |
| Gate PAXG_USDT | 0.0000% | 8h | 4,369.9 | 0.000% | $15.8M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,363.9 | −0.136% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,372 | +0.048% | $8.0M | $871K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,370 | +0.003% | $911K | $661K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.517% | $1K | $151K | 30x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,367.3 | −0.059% | $1.4M | $270K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,369.3 | −0.014% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,368 | −0.043% | $20.8M | $2.1M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,368.7 | −0.028% | $911K | $30K | 50x | as long as short |
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Aster PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PAXG | +0.0100% | 1h | 4,370.2 | +0.007% | $1.0M | $365K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,368.1 | −0.042% | $80.3M | $71.0M | 75x | as long as short |
| Bybit PAXGUSDTlong | +0.0100% | 4h | 4,369.9 | long leg | $15.2M | $3.7M | 75x | |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,366.6 | −0.074% | $16.2M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,370.9 | +0.023% | $28.5M | $5.6M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,368.6 | −0.031% | $9.7M | $15.4M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,369.6 | −0.006% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,368.7 | −0.026% | $1.4M | $900K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,367 | −0.067% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,367.6 | −0.052% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,366.2 | −0.084% | $264K | $792K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,368.1 | −0.041% | $560 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,369 | −0.020% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,367.8 | −0.049% | $382K | $1.3M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0128% | 1h | 4,367.8 | −0.048% | $42K | $155K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,369.3 | −0.014% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0207% | 1h | 4,369.4 | −0.012% | $1.3M | $1.5M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0304% | 1h | 4,371.6 | +0.039% | $977K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,379.8 | +0.227% | $29K | $23K | 10x | as long as short |
Pacifica PAXG
Binance PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD