Funding you earn now, next payment 04:00 UTC−0.0076%/8h= −8.3% APRnext payment −$0.10 per $10,000 · paid last 24h −0.002%
Price spread now: Lighter against Hyperliquid−0.042%7-day average −0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$140.145% of the position
Funding, last 7 days+0.037%+$4 on $10k
+Price spread, last 7 days+0.104%+$10 · spread now −0.042%, 7d avg −0.002%
=Together, before fees+0.142%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.040% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.002%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PAXG | 4,344.3 | 0.0100 | pay 0.0013% / 1h | 22m 28s | $20.8M | $2.4M | 10x |
| Short | Lighter PAXG | 4,342.5 | 0.0024 | get 0.0003% / 1h | 22m 28s | $1.4M | $357K | 25x |
Hyperliquid PAXG
Lighter PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$15.96
- Price spread: −0.042% → −0.002%
- −$3.95
- Slippage, 4 orders
- −$5.49
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$34.4
- Costs to cover
- 0.145%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 10 min ago; Lighter: 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, 10 min ago | 0.46 bp | 5.2 bp −$5 | 6.2 bp −$62 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 1.14 bp | 1.4 bp −$1 | 5.2 bp −$52 | 19.9 bp −$1,989 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0136% | 1h | 4,344.2 | −0.003% | $42K | $155K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,345.5 | +0.027% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,345.9 | +0.037% | $15.6M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,340.7 | −0.082% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,347.2 | +0.068% | $7.9M | $868K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,345.9 | +0.037% | $906K | $679K | 75x | as long as short |
| Lighter PAXGshort | +0.0024% | 1h | 4,342.5 | −0.042% | $1.4M | $357K | 25x | |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.069% | $1K | $151K | 30x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0096% | 4h | 4,344.6 | +0.006% | $1.5M | $1.9M | 10x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,343.3 | −0.023% | $557 | — | 10x | as long as short |
Hibachi PAXG/USDT-P
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
GRVT PAXG_USDT_Perp
Orderly PERP_PAXG_USDC_mythosShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,343.3 | −0.023% | $81K | $3.7M | 50x | as long as short |
| Hyperliquid PAXGlong | +0.0100% | 1h | 4,344.3 | long leg | $20.8M | $2.4M | 10x | |
| Aster PAXGUSDT | +0.0100% | 4h | 4,344.3 | 0.000% | $906K | $30K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,345.3 | +0.024% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,343 | −0.030% | $80.1M | $70.7M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,344.6 | +0.007% | $14.9M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,345.3 | +0.024% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,346.9 | +0.059% | $28.6M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,343.9 | −0.010% | $9.7M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,344.2 | −0.003% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,344.2 | −0.003% | $1.3M | $804K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,344.3 | +0.001% | $12.5M | $97K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,343.8 | −0.012% | $263K | $787K | 50x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,341 | −0.076% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,341.8 | −0.058% | $379K | $1.5M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,342.9 | −0.033% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0210% | 1h | 4,344.4 | +0.002% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,348.9 | +0.106% | $968K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0848% | 1h | 4,354.8 | +0.242% | $29K | $23K | 10x | as long as short |
Paradex PAXG-USD-PERP
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
ApeX Omni PAXGUSDT
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD