Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.025%
Price spread now: Bybit against Injective+0.115%78s7-day average −0.064% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.083%+$8 on $10k
+Price spread, last 3 days (all we have)−0.219%−$22 · spread now +0.115%, 7d avg −0.064%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.179% dearer against Injective than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.064%. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PAXG/USDC PERP | 4,347.3 | 0.0033 | pay 0.0004% / 1h | 45m 55s | $1K | $151K | 30x |
| Short | Bybit PAXGUSDT | 4,352.3 | 0.0100 | get 0.0050% / 4h | 2h 45m | $15.2M | $3.6M | 75x |
Injective PAXG/USDC PERP
Bybit PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- $14
- Price spread: +0.115% → −0.064%
- $17.89
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $20.87
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 2 min ago. Net counts fees only.
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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 2 min ago | 0.12 bp | 7.8 bp −$8 | 12.1 bp −$121 | 27.9 bp −$2,791 | doesn't fit |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 4,354.6 | +0.168% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,354.6 | +0.168% | $15.7M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,348.6 | +0.030% | $2K | $3.8M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,355.4 | +0.187% | $7.9M | $873K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,359.3 | +0.275% | $905K | $631K | 75x | as long as short |
| Injective PAXG/USDC PERPlong | +0.0033% | 1h | 4,347.3 | long leg | $1K | $151K | 30x | |
| Hibachi PAXG/USDT-P | +0.0064% | 1h | 4,352.5 | +0.120% | $42K | $160K | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,351.2 | +0.090% | $1.4M | $291K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,352 | +0.108% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,351.3 | +0.092% | $20.7M | $2.1M | 10x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Hibachi PAXG/USDT-P
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 | 4,351.5 | +0.097% | $908K | $29K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,354 | +0.154% | $1.0M | $367K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,350.4 | +0.072% | $80.3M | $71.0M | 75x | as long as short |
| Bybit PAXGUSDTshort | +0.0100% | 4h | 4,352.3 | +0.115% | $15.2M | $3.6M | 75x | |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,351.1 | +0.087% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,353 | +0.131% | $28.4M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,351.1 | +0.088% | $9.7M | $15.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,351.9 | +0.106% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,351.7 | +0.101% | $1.4M | $806K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,353.3 | +0.137% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,355.3 | +0.185% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,354.5 | +0.166% | $264K | $786K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,351.9 | +0.106% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,353 | +0.131% | $1.5M | $39K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,349.3 | +0.047% | $379K | $1.4M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,352.4 | +0.117% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0247% | 1h | 4,352.8 | +0.125% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0312% | 1h | 4,359.1 | +0.272% | $973K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,362.9 | +0.359% | $29K | $23K | 10x | as long as short |
Aster PAXGUSDT
Pacifica PAXG
Binance PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD