Funding you earn now, next payment 03:00 UTC+0.0076%/8h= +8.3% APRnext payment +$0.10 per $10,000 · paid last 24h +0.035%
Price spread now: Backpack against Hibachi+0.013%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$93as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$440.440% of the position
Funding, last 7 days−0.492%−$49 on $10k
+Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.013%, 7d avg +0.020%
=Together, before fees−0.471%+ Points / potential airdropHibachi: Active · farm board−$47 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.492%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi PAXG/USDT-P | 4,347.2 | 0.0024 | pay 0.0003% / 1h | 29m 22s | $42K | $154K | 20x |
| Short | Backpack PAXG_USDC_PERP | 4,347.8 | 0.0100 | get 0.0013% / 1h | 29m 22s | $1.3M | $801K | 50x |
Hibachi PAXG/USDT-P
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hibachi. 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
- $15.96
- Price spread: +0.013% → +0.020%
- −$0.72
- Slippage, 4 orders
- −$25.01
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$28.77
- Costs to cover
- 0.440%
- Break-even
- 19.6 days
Slippage from Hibachi: live order book, 34 min ago; Backpack: 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 Hibachi live order book, 34 min ago | 0.20 bp | 16.7 bp −$17 | 52.2 bp −$522 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 5 min ago | 0.01 bp | 5.8 bp −$6 | 7.5 bp −$75 | 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 | 4,344.4 | −0.066% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,348.6 | +0.032% | $15.6M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,343.1 | −0.095% | $2K | $3.7M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,350.4 | +0.073% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,349.4 | +0.050% | $905K | $653K | 75x | as long as short |
| Hibachi PAXG/USDT-Plong | +0.0024% | 1h | 4,347.2 | long leg | $42K | $154K | 20x | |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.002% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0066% | 4h | 4,346.7 | −0.011% | $1.5M | $1.9M | 10x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,345.3 | −0.044% | $1.4M | $348K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,344.8 | −0.056% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
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 | 4,346.4 | −0.018% | $20.8M | $2.4M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,346.7 | −0.012% | $907K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,347.7 | +0.012% | $1.0M | $340K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,345.2 | −0.046% | $80.1M | $70.6M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,346.3 | −0.020% | $15.0M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,346.3 | −0.020% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,349.2 | +0.045% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,347.2 | +0.001% | $9.6M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,346.1 | −0.026% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,347.8 | +0.013% | $1.3M | $801K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,345.5 | −0.040% | $12.5M | $99K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,345.8 | −0.033% | $263K | $790K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,344.5 | −0.062% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,344 | −0.074% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,345.2 | −0.045% | $382K | $1.4M | 25x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0173% | 1h | 4,348.3 | +0.026% | $1.3M | $1.4M | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,345.8 | −0.032% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,349.7 | +0.057% | $971K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0984% | 1h | 4,356.7 | +0.218% | $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
Variational Omni PAXG
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Kraken Futures PF_PAXGUSD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD