Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Backpack against Hyperliquid+0.024%7-day average +0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$210.211% of the position
Funding, last 7 days+0.046%+$5 on $10k
+Price spread, last 7 days+0.147%+$15 · spread now +0.024%, 7d avg +0.030%
=Together, before fees+0.193%+ Points / potential airdropHyperliquid: Season 2 · farm board+$19 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PAXG | 4,302.7 | 0.0100 | pay 0.0013% / 1h | 0m 11s | $20.7M | $2.4M | 10x |
| Short | Backpack PAXG_USDC_PERP | 4,303.7 | 0.0100 | get 0.0013% / 1h | 0m 11s | $1.2M | $844K | 50x |
Hyperliquid PAXG
Backpack PAXG_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hyperliquid. 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
- $0
- Price spread: +0.024% → +0.030%
- −$0.61
- Slippage, 4 orders
- −$2.06
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$21.68
- Costs to cover
- 0.211%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; Backpack: live order book, 4 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 Hyperliquid live order book, 3 min ago | 0.35 bp | 5.6 bp −$6 | 7.4 bp −$74 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.01 bp | 5.4 bp −$5 | 6.9 bp −$69 | 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 | −0.0192% | 1h | 4,300.4 | −0.055% | $1.4M | $609K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0160% | 1h | 4,302.3 | −0.010% | $40K | $174K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0126% | 4h | 4,303.3 | +0.014% | $1.5M | $1.9M | 10x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0055% | 1h | 4,302.3 | −0.009% | $1.2M | $1.7M | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,302.5 | −0.004% | $100K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,304 | +0.030% | $15.6M | $3.9M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,298.2 | −0.105% | $2K | $3.2M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,306.8 | +0.095% | $7.9M | $599K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,308 | +0.123% | $903K | $802K | 75x | as long as short |
| Binance PAXGUSDT | +0.0022% | 4h | 4,302 | −0.017% | $80.0M | $78.6M | 75x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
Kraken Futures PF_PAXGUSD
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Binance PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC PAXG_USDT | +0.0022% | 4h | 4,308.3 | +0.129% | $16.6M | $1.2M | 100x | as long as short |
| Extended PAXG-USD | +0.0024% | 1h | 4,300.8 | −0.044% | $377K | $1.6M | 25x | as long as short |
| ApeX Omni PAXGUSDT | +0.0026% | 1h | 4,303.2 | +0.011% | $261K | $772K | 50x | as long as short |
| Aster PAXGUSDT | +0.0029% | 4h | 4,302.1 | −0.013% | $897K | $29K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +1.037% | $1K | $151K | 30x | as long as short |
| Bitget PAXGUSDT | +0.0034% | 4h | 4,302.4 | −0.007% | $9.5M | $16.0M | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0097% | 8h | 4,301.7 | −0.024% | $85K | $4.1M | 50x | as long as short |
| Hyperliquid PAXGlong | +0.0100% | 1h | 4,302.7 | long leg | $20.7M | $2.4M | 10x | |
| Pacifica PAXG | +0.0100% | 1h | 4,303.3 | +0.014% | $1.0M | $302K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,302.3 | −0.009% | $14.9M | $4.0M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,303.5 | +0.018% | $28.5M | $5.4M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,302.8 | +0.003% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERPshort | +0.0100% | 1h | 4,303.7 | +0.024% | $1.2M | $844K | 50x | |
| Variational Omni PAXG | +0.0100% | 4h | 4,301.5 | −0.029% | $12.2M | $230K | — | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,301.6 | −0.026% | $552 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,301 | −0.040% | $1.5M | $66K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,301.2 | −0.036% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0224% | 1h | 4,305.9 | +0.074% | $940K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0904% | 1h | 4,312.3 | +0.223% | $29K | $23K | 10x | as long as short |
MEXC PAXG_USDT
Extended PAXG-USD
ApeX Omni PAXGUSDT
Aster PAXGUSDT
Injective PAXG/USDC PERP
Bitget PAXGUSDT
Paradex PAXG-USD-PERP
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
BingX PAXG-USDT
Variational Omni PAXG
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD