Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%
Price spread now: Bybit against Deribit−0.151%7-day average −0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$320.320% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 4 days (all we have)+0.015%+$2 · spread now −0.151%, 7d avg −0.042%
=Funding pays, the price is against you. Bybit is 0.109% cheaper against Deribit than usual: you would sell low and buy high (spread −0.151% now, against its 7-day average of −0.042%). If the spread goes back, that is −$11 on $10k: about 3.6 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PAXG_USDC-PERPETUAL | 4,299.5 | 0 | get 0.0000% / 1h | 26m 04s | $7.9M | $604K | 50x |
| Short | Bybit PAXGUSDT | 4,293 | 0.0100 | get 0.0050% / 4h | 3h 26m | $14.8M | $4.4M | 75x |
Deribit PAXG_USDC-PERPETUAL
Bybit PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Deribit. 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: −0.151% → −0.042%
- −$10.87
- Slippage, 4 orders
- −$13.96
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$21.83
- Costs to cover
- 0.320%
- Break-even
- 14.3 days
Slippage from Deribit: live order book, 3 min ago; Bybit: live order book, 2 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 Deribit live order book, 3 min ago | 4.44 bp | 9.2 bp −$9 | 14.8 bp −$148 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.12 bp | 7.4 bp −$7 | 11.3 bp −$113 | 24.7 bp −$2,472 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter PAXG | −0.0184% | 1h | 4,291.7 | −0.181% | $1.4M | $625K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0184% | 1h | 4,298 | −0.034% | $40K | $183K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0122% | 4h | 4,302.6 | +0.073% | $1.5M | $1.9M | 10x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0097% | 1h | 4,292.9 | −0.154% | $1.2M | $2.0M | 20x | as long as short |
| dYdX PAXG-USD | −0.0011% | 1h | 4,297.8 | −0.040% | $100K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,295.1 | −0.102% | $15.6M | $3.9M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,288.8 | −0.249% | $2K | $3.2M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,299.5 | long leg | $7.9M | $604K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,301.4 | +0.043% | $904K | $824K | 75x | as long as short |
| Extended PAXG-USD | +0.0008% | 1h | 4,291.9 | −0.177% | $373K | $1.5M | 25x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
Kraken Futures PF_PAXGUSD
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Extended PAXG-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance PAXGUSDT | +0.0010% | 4h | 4,293.6 | −0.138% | $79.9M | $81.0M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0012% | 4h | 4,300.8 | +0.030% | $16.7M | $1.2M | 100x | as long as short |
| Bitget PAXGUSDT | +0.0022% | 4h | 4,292 | −0.173% | $9.4M | $16.1M | 50x | as long as short |
| Aster PAXGUSDT | +0.0026% | 4h | 4,295.9 | −0.084% | $897K | $37K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +1.112% | $1K | $151K | 30x | as long as short |
| ApeX Omni PAXGUSDT | +0.0074% | 1h | 4,302.6 | +0.072% | $261K | $772K | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0091% | 8h | 4,295.3 | −0.097% | $81K | $4.4M | 50x | as long as short |
| Hyperliquid PAXG | +0.0094% | 1h | 4,292.4 | −0.165% | $21.0M | $2.6M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,299.1 | −0.009% | $1.0M | $303K | 10x | as long as short |
| Bybit PAXGUSDTshort | +0.0100% | 4h | 4,293 | −0.151% | $14.8M | $4.4M | 75x | |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,295.3 | −0.097% | $28.6M | $5.4M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,294.2 | −0.123% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,292.8 | −0.157% | $1.2M | $861K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,301.7 | +0.052% | $12.2M | $230K | — | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,293.8 | −0.132% | $551 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,295 | −0.104% | $1.5M | $78K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,293.7 | −0.134% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,296.6 | −0.068% | $930K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0848% | 1h | 4,306.9 | +0.173% | $29K | $23K | 10x | as long as short |
Binance PAXGUSDT
MEXC PAXG_USDT
Bitget PAXGUSDT
Aster PAXGUSDT
Injective PAXG/USDC PERP
ApeX Omni PAXGUSDT
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Pacifica PAXG
KuCoin PAXGUSDTM
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD