Funding you earn now, next payment 02:00 UTC−0.0320%/8h= −35.0% APRpaid last 24h −0.084%
Price spread now: Gate against Coinbase International−0.202%50s7-day average −0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$78as 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−$320.325% of the position
Funding, last 7 days−0.450%−$45 on $10k
+Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.202%, 7d avg −0.028%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Gate is 0.174% cheaper against Coinbase International than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.028%). Swap the legs. The two prices were read 50 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 | Coinbase International PAXG-PERP-INTX | 4,353 | 0.0320 | pay 0.0040% / 1h | 8m 27s | $972K | $1.1M | 50x |
| Short | Gate PAXG_USDT | 4,344.2 | 0 | get 0.0000% / 8h | 5h 08m | $15.6M | $3.5M | 100x |
Coinbase International PAXG-PERP-INTX
Gate PAXG_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Coinbase International. 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
- −$67.2
- Price spread: −0.202% → −0.028%
- −$17.44
- Slippage, 4 orders
- −$7.49
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$117.13
- Costs to cover
- 0.325%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 5 min ago; Gate: live order book, 5 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 Coinbase International live order book, 5 min ago | 2.22 bp | 7.2 bp −$7 | 9.8 bp −$98 | doesn't fit | doesn't fit |
| Sell Gate live order book, 5 min ago | 0.81 bp | 9.7 bp −$10 | 14.6 bp −$146 | 27.0 bp −$2,696 | 61.8 bp −$30.9K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0064% | 1h | 4,340.8 | −0.280% | $41K | $158K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,341.3 | −0.269% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDTshort | 0.0000% | 8h | 4,344.2 | −0.202% | $15.6M | $3.5M | 100x | |
| SunX PAXG-USDT | 0.0000% | 4h | 4,338.6 | −0.330% | $2K | $3.7M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,345.6 | −0.169% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,348.8 | −0.096% | $904K | $661K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.131% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0082% | 4h | 4,342.2 | −0.247% | $1.5M | $1.9M | 10x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,341.4 | −0.267% | $1.4M | $351K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,342.2 | −0.247% | $80K | $3.7M | 50x | as long as short |
Hibachi PAXG/USDT-P
dYdX PAXG-USD
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
GRVT PAXG_USDT_Perp
Lighter PAXG
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,343.1 | −0.227% | $20.8M | $2.3M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,342.2 | −0.248% | $906K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,343.5 | −0.218% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,342.6 | −0.238% | $80.1M | $70.7M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,343.6 | −0.215% | $14.9M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,343.3 | −0.224% | $16.1M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,344.9 | −0.186% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,343.4 | −0.220% | $9.6M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,343.3 | −0.223% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,342.9 | −0.233% | $1.3M | $801K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,340.4 | −0.289% | $12.4M | $99K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,342.5 | −0.242% | $263K | $791K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,341.7 | −0.259% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,343 | −0.229% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,341.5 | −0.264% | $382K | $1.4M | 25x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0173% | 1h | 4,343.2 | −0.226% | $1.3M | $1.4M | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,342.7 | −0.236% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTXlong | +0.0320% | 1h | 4,353 | long leg | $972K | $1.1M | 50x | |
| 01 Exchange PAXGUSD | +0.1008% | 1h | 4,353 | 0.000% | $29K | $23K | 10x | as long as short |
Hyperliquid PAXG
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Kraken Futures PF_PAXGUSD
Reya PAXGRUSDPERP
01 Exchange PAXGUSD