Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.019%
Price spread now: Backpack against HTX−0.048%7-day average −0.132% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$460.460% of the position
Funding, last 7 days+0.076%+$8 on $10k
+Price spread, last 3 days (all we have)−0.090%−$9 · spread now −0.048%, 7d avg −0.132%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.084% dearer against HTX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.132%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | HTX PAXG-USDT | 4,356.9 | 0 | get 0.0000% / 4h | 3h 07m | $906K | $645K | 75x |
| Short | Backpack PAXG_USDC_PERP | 4,354.9 | 0.0100 | get 0.0013% / 1h | 7m 08s | $1.4M | $833K | 50x |
HTX PAXG-USDT
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against HTX. 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: −0.048% → −0.132%
- $8.4
- Slippage, 4 orders
- −$23.96
- Fee HTX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$16.56
- Costs to cover
- 0.460%
- Break-even
- 12.5 days
Slippage from HTX: live order book, 2 min ago; Backpack: 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 HTX live order book, 2 min ago | 0.84 bp | 23.7 bp −$24 | 26.5 bp −$265 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 2 min ago | 0.01 bp | 5.0 bp −$5 | 5.9 bp −$59 | 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 | 4,354.3 | −0.061% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,356.1 | −0.019% | $15.7M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,350.4 | −0.151% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,357.5 | +0.013% | $7.9M | $873K | 50x | as long as short |
| HTX PAXG-USDTlong | 0.0000% | 4h | 4,356.9 | long leg | $906K | $645K | 75x | |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.221% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0060% | 4h | 4,353.6 | −0.077% | $1.5M | $2.0M | 10x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,353.2 | −0.086% | $1.4M | $270K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,353.3 | −0.084% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,354.2 | −0.062% | $20.7M | $2.1M | 10x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
Injective PAXG/USDC PERP
GRVT PAXG_USDT_Perp
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXGShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PAXGUSDT | +0.0100% | 4h | 4,354.2 | −0.063% | $908K | $29K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,355.1 | −0.043% | $1.0M | $368K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,354.1 | −0.064% | $80.3M | $70.9M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,355.5 | −0.033% | $15.1M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,353.8 | −0.071% | $16.2M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,356.7 | −0.005% | $28.4M | $5.5M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,354.9 | −0.048% | $9.7M | $15.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,354.9 | −0.047% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,354.9 | −0.048% | $1.4M | $833K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,351.6 | −0.122% | $12.5M | $104K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,351.9 | −0.115% | $263K | $787K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,353.7 | −0.074% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,354 | −0.067% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,352.6 | −0.099% | $379K | $1.4M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0128% | 1h | 4,352.2 | −0.108% | $42K | $148K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,354.2 | −0.063% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0208% | 1h | 4,355.2 | −0.040% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0304% | 1h | 4,356.6 | −0.007% | $973K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0976% | 1h | 4,364.6 | +0.176% | $29K | $23K | 10x | as long as short |
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
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD