Funding you earn now, next payment 07:00 UTC+0.0384%/8h= +42.0% APRnext payment +$0.48 per $10,000 · paid last 24h +0.100%
Price spread now: Coinbase International against Hibachi+0.131%7-day average +0.091% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$410.413% of the position
Funding, last 7 days−0.191%−$19 on $10k
+Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.131%, 7d avg +0.091%
=Together, before fees−0.201%+ Points / potential airdropHibachi: Active · farm board−$20 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Coinbase International is 0.040% dearer against Hibachi than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.091%. Mind the row above: over the last 7 days funding on this pair cost −0.191%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.191% in total (about -10.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.48 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi PAXG/USDT-P | 4,313.1 | −0.0160 | get 0.0020% / 1h | 8m 44s | $42K | $171K | 20x |
| Short | Coinbase International PAXG-PERP-INTX | 4,318.8 | 0.0224 | get 0.0028% / 1h | 8m 44s | $950K | $1.0M | 50x |
Hibachi PAXG/USDT-P
Coinbase International PAXG-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $80.64
- Price spread: +0.131% → +0.091%
- $3.98
- Slippage, 4 orders
- −$22.25
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $43.37
- Costs to cover
- 0.413%
- Break-even
- 3.2 days
Slippage from Hibachi: live order book, 30 min ago; Coinbase International: 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, 30 min ago | 0.22 bp | 14.6 bp −$15 | 49.9 bp −$499 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 5 min ago | 1.36 bp | 6.4 bp −$6 | 14.6 bp −$146 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter PAXG | −0.0200% | 1h | 4,306 | −0.165% | $1.4M | $505K | 25x | as long as short |
| Hibachi PAXG/USDT-Plong | −0.0160% | 1h | 4,313.1 | long leg | $42K | $171K | 20x | |
| GRVT PAXG_USDT_Perp | −0.0116% | 4h | 4,313.5 | +0.009% | $1.5M | $2.0M | 10x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0055% | 1h | 4,308.8 | −0.101% | $1.2M | $1.7M | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,309.5 | −0.084% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,310.3 | −0.066% | $15.5M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,305 | −0.188% | $2K | $3.2M | 20x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,314.2 | +0.025% | $902K | $797K | 75x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | +0.0023% | 1h | 4,314.9 | +0.040% | $7.9M | $594K | 50x | as long as short |
| Extended PAXG-USD | +0.0024% | 1h | 4,307.2 | −0.137% | $376K | $1.5M | 25x | as long as short |
Lighter PAXG
GRVT PAXG_USDT_Perp
Kraken Futures PF_PAXGUSD
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
Extended PAXG-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC PAXG_USDT | +0.0026% | 4h | 4,317.2 | +0.093% | $16.8M | $1.1M | 100x | as long as short |
| Binance PAXGUSDT | +0.0027% | 4h | 4,307.4 | −0.133% | $79.7M | $76.7M | 75x | as long as short |
| Aster PAXGUSDT | +0.0031% | 4h | 4,309.7 | −0.078% | $899K | $30K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.792% | $1K | $151K | 30x | as long as short |
| ApeX Omni PAXGUSDT | +0.0038% | 1h | 4,312.1 | −0.024% | $261K | $774K | 50x | as long as short |
| Bitget PAXGUSDT | +0.0046% | 4h | 4,307.8 | −0.123% | $9.4M | $16.0M | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0096% | 8h | 4,307.4 | −0.132% | $87K | $4.0M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,308.5 | −0.107% | $20.7M | $2.3M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,309.4 | −0.086% | $1.0M | $302K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,307.9 | −0.121% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,310.2 | −0.067% | $28.5M | $5.3M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,310 | −0.072% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,309.3 | −0.088% | $1.3M | $835K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,312.6 | −0.012% | $12.2M | $218K | — | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,309.9 | −0.075% | $553 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,311 | −0.049% | $1.5M | $53K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,309.1 | −0.094% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTXshort | +0.0224% | 1h | 4,318.8 | +0.131% | $950K | $1.0M | 50x | |
| 01 Exchange PAXGUSD | +0.0920% | 1h | 4,321.6 | +0.196% | $29K | $23K | 10x | as long as short |
MEXC PAXG_USDT
Binance PAXGUSDT
Aster PAXGUSDT
Injective PAXG/USDC PERP
ApeX Omni PAXGUSDT
Bitget PAXGUSDT
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Reya PAXGRUSDPERP
01 Exchange PAXGUSD