Funding you earn now, next payment 03:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.053%
Price spread now: Phemex against Coinbase International−0.153%7-day average −0.141% · you buy dearer than you sell
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$620.623% of the position
Funding, last 7 days−0.283%−$28 on $10k
+Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.153%, 7d avg −0.141%
=The price spread sits at its 7-day average of −0.141%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International PAXG-PERP-INTX | 4,345.7 | 0.0320 | pay 0.0040% / 1h | 40m 14s | $968K | $1.1M | 50x |
| Short | Phemex PAXGUSDT | 4,339 | 0.0100 | get 0.0050% / 4h | 40m 14s | $1.5M | $39K | 50x |
Coinbase International PAXG-PERP-INTX
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$46.2
- Price spread: −0.153% → −0.141%
- −$1.27
- Slippage, 4 orders
- −$40.3
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$109.76
- Costs to cover
- 0.623%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 3 min ago; Phemex: 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 Coinbase International live order book, 3 min ago | 1.14 bp | 6.1 bp −$6 | 9.3 bp −$93 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 5.76 bp | 24.5 bp −$25 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0120% | 1h | 4,341.2 | −0.104% | $42K | $159K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,341.9 | −0.087% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,342.4 | −0.075% | $15.6M | $3.3M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,336.9 | −0.201% | $1K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,343.4 | −0.053% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,343.8 | −0.043% | $904K | $671K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.038% | $1K | $151K | 30x | as long as short |
| Lighter PAXG | +0.0072% | 1h | 4,339.1 | −0.151% | $1.4M | $347K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,341.5 | −0.095% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,341 | −0.107% | $20.8M | $2.4M | 10x | as long as short |
Hibachi PAXG/USDT-P
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
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 | 4,342.3 | −0.077% | $906K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,342.2 | −0.080% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,340.5 | −0.119% | $80.2M | $70.4M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,341.5 | −0.096% | $14.9M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.3 | −0.077% | $16.1M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,343.6 | −0.049% | $28.6M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,341.1 | −0.105% | $9.7M | $14.8M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,341.6 | −0.094% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,342 | −0.085% | $1.3M | $801K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,340.7 | −0.113% | $12.4M | $97K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,341.5 | −0.096% | $1.5M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,340.5 | −0.120% | $262K | $788K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,339.8 | −0.135% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,339 | −0.153% | $1.5M | $39K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,339.2 | −0.149% | $379K | $1.4M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,339.9 | −0.133% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0210% | 1h | 4,341.2 | −0.104% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTXlong | +0.0320% | 1h | 4,345.7 | long leg | $968K | $1.1M | 50x | |
| 01 Exchange PAXGUSD | +0.0896% | 1h | 4,352.1 | +0.148% | $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
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
01 Exchange PAXGUSD