Funding you earn now, next payment 12:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h +0.034%
Price spread now: MEXC against Hibachi+0.166%7-day average +0.120% · you sell dearer than you buy
Net, funding: paid 7d − costs−$104as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$500.500% of the position
Funding, last 7 days−0.536%−$54 on $10k
+Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.166%, 7d avg +0.120%
=Together, before fees−0.593%+ Points / potential airdropHibachi: Active · farm board−$59 on $10k · with fees, hour by hour
The price spread pays, funding is against you. MEXC is 0.047% dearer against Hibachi than usual: you sell high and buy low (spread +0.166% now, against its 7-day average of +0.120%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 7 days (−0.536% in total) that is about 15 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi PAXG/USDT-P | 4,320.6 | 0.0224 | pay 0.0028% / 1h | 55m 20s | $47K | $178K | 20x |
| Short | MEXC PAXG_USDT | 4,327.8 | 0.0100 | get 0.0050% / 4h | 55m 20s | $16.5M | $1.2M | 100x |
Hibachi PAXG/USDT-P
MEXC PAXG_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$26.04
- Price spread: +0.166% → +0.120%
- $4.65
- Slippage, 4 orders
- −$36.98
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$71.36
- Costs to cover
- 0.500%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 52 min ago; MEXC: live order book, 1 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, 52 min ago | 1.52 bp | 16.7 bp −$17 | 53.7 bp −$537 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 1 min ago | 0.01 bp | 14.3 bp −$14 | 28.8 bp −$288 | 66.0 bp −$6,601 | 113.9 bp −$57.0K |
PAXG on 29 exchanges
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 | −0.0008% | 1h | 4,318 | −0.060% | $1.4M | $494K | 25x | as long as short |
| dYdX PAXG-USD | −0.0007% | 1h | 4,321.5 | +0.023% | $116K | $16K | 5x | as long as short |
| ApeX Omni PAXGUSDT | −0.0002% | 1h | 4,321.1 | +0.013% | $261K | $797K | 50x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,320.8 | +0.005% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,315.8 | −0.109% | $2K | $2.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,323.4 | +0.067% | $7.9M | $203K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,321.5 | +0.022% | $910K | $825K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.619% | $1K | $151K | 30x | as long as short |
| Paradex PAXG-USD-PERP | +0.0099% | 8h | 4,317.5 | −0.070% | $80K | $4.2M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,319 | −0.036% | $21.3M | $2.5M | 10x | as long as short |
Lighter PAXG
dYdX PAXG-USD
ApeX Omni PAXGUSDT
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
Paradex PAXG-USD-PERP
Hyperliquid PAXGShow all 29 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PAXGUSDT | +0.0100% | 4h | 4,321.1 | +0.012% | $903K | $42K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,320.6 | +0.001% | $1.0M | $330K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,318.9 | −0.039% | $80.1M | $80.2M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,319.3 | −0.029% | $14.8M | $4.8M | 75x | as long as short |
| MEXC PAXG_USDTshort | +0.0100% | 4h | 4,327.8 | +0.166% | $16.5M | $1.2M | 100x | |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,321.2 | +0.015% | $28.8M | $6.0M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,319.5 | −0.025% | $9.2M | $16.7M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,320.4 | −0.005% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,320.1 | −0.011% | $1.2M | $859K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,318.4 | −0.050% | $12.2M | $278K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,321.9 | +0.031% | $1.5M | $2.0M | 10x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,318.4 | −0.050% | $554 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,321 | +0.010% | $1.5M | $82K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,317.5 | −0.071% | $378K | $1.6M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,317.7 | −0.067% | $20K | — | 100x | as long as short |
| Hibachi PAXG/USDT-Plong | +0.0224% | 1h | 4,320.6 | long leg | $47K | $178K | 20x | |
| Kraken Futures PF_PAXGUSD | +0.0263% | 1h | 4,320 | −0.013% | $1.2M | $2.1M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0280% | 1h | 4,331.7 | +0.257% | $933K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,329.5 | +0.207% | $29K | $23K | 10x | as long as short |
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD