Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%
Price spread now: Phemex against Deribit−0.154%7-day average −0.104% · you buy dearer than you sell
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$710.706% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 3 days (all we have)+0.041%+$4 · spread now −0.154%, 7d avg −0.104%
=Funding pays, the price is against you. Phemex is 0.050% cheaper against Deribit than usual: you would sell low and buy high (spread −0.154% now, against its 7-day average of −0.104%). If the spread goes back, that is −$5 on $10k: about 40 hours 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 | 4,369.7 | 0 | get 0.0000% / 1h | 50m 28s | $8.0M | $871K | 50x |
| Short | Phemex PAXGUSDT | 4,363 | 0.0100 | get 0.0050% / 4h | 3h 50m | $1.5M | $39K | 50x |
Deribit PAXG_USDC-PERPETUAL
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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: −0.154% → −0.104%
- −$4.99
- Slippage, 4 orders
- −$51.57
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$54.56
- Costs to cover
- 0.706%
- Break-even
- 25.2 days
Slippage from Deribit: live order book, 4 min ago; Phemex: 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, 4 min ago | 2.63 bp | 8.8 bp −$9 | 30.2 bp −$302 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 5.73 bp | 25.6 bp −$26 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,367.1 | −0.060% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,369 | −0.017% | $15.8M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,361.8 | −0.182% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALlong | 0.0000% | 1h | 4,369.7 | long leg | $8.0M | $871K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,368.3 | −0.032% | $911K | $658K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.513% | $1K | $151K | 30x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,366.2 | −0.080% | $1.4M | $269K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,367.2 | −0.057% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,367.7 | −0.046% | $20.7M | $2.1M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,367.8 | −0.045% | $911K | $30K | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
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 | 4,368.4 | −0.030% | $1.0M | $365K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,367.6 | −0.050% | $80.3M | $70.9M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,369.1 | −0.014% | $15.1M | $3.7M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,365.6 | −0.093% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,369.7 | −0.001% | $28.5M | $5.6M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,368.2 | −0.035% | $9.7M | $15.4M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,368.2 | −0.034% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,367.2 | −0.057% | $1.4M | $973K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,367 | −0.063% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,367.6 | −0.048% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,366.4 | −0.076% | $264K | $792K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,365.8 | −0.090% | $560 | — | 10x | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,363 | −0.154% | $1.5M | $39K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,366.5 | −0.074% | $379K | $1.3M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0128% | 1h | 4,367.5 | −0.051% | $42K | $155K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,368.1 | −0.038% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0208% | 1h | 4,367.3 | −0.055% | $1.3M | $1.5M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0304% | 1h | 4,371.6 | +0.043% | $977K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,378.4 | +0.199% | $29K | $23K | 10x | as long as short |
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
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD