Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.024%
Price spread now: Phemex against Injective+0.069%7-day average −0.141% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.076%+$8 on $10k
+Price spread, last 3 days (all we have)−0.210%−$21 · spread now +0.069%, 7d avg −0.141%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phemex is 0.210% dearer against Injective than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.141%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PAXG/USDC PERP | 4,337 | 0.0033 | pay 0.0004% / 1h | 47m 14s | $1K | $121K | 30x |
| Short | Phemex PAXGUSDT | 4,340 | 0.0100 | get 0.0050% / 4h | 1h 47m | $1.5M | $38K | 50x |
Injective PAXG/USDC PERP
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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: +0.069% → −0.141%
- $21
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $22.98
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 1 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 Phemex live order book, 1 min ago | 1.15 bp | 20.1 bp −$20 | doesn't fit | doesn't fit | 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 | 4,343.7 | +0.155% | $101K | $13K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,347.1 | +0.233% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,339.9 | +0.066% | $2K | $4.0M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,349.3 | +0.284% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,347.6 | +0.243% | $909K | $656K | 75x | as long as short |
| Hibachi PAXG/USDT-P | +0.0024% | 1h | 4,345.7 | +0.201% | $47K | $146K | 20x | as long as short |
| Injective PAXG/USDC PERPlong | +0.0033% | 1h | 4,337 | long leg | $1K | $121K | 30x | |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,346.5 | +0.218% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,344.1 | +0.163% | $1.4M | $273K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,344.6 | +0.175% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Hibachi PAXG/USDT-P
Kraken Futures PF_PAXGUSD
Lighter PAXG
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,345 | +0.184% | $20.3M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,344.9 | +0.183% | $907K | $28K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,345.9 | +0.206% | $1.0M | $368K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,345 | +0.184% | $80.0M | $67.8M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,345.5 | +0.196% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.4 | +0.125% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,347.2 | +0.234% | $26.8M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,345.8 | +0.203% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,345.3 | +0.191% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,346.2 | +0.212% | $1.4M | $955K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,344 | +0.161% | $12.4M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,345.2 | +0.189% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,343 | +0.139% | $263K | $798K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,343.5 | +0.150% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,340 | +0.069% | $1.5M | $38K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,344.4 | +0.170% | $377K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,345.4 | +0.193% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,347.6 | +0.245% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1432% | 1h | 4,361.2 | +0.558% | $29K | $21K | 10x | as long as short |
Hyperliquid PAXG
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
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD