Funding you earn now, next payment 07:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h −0.003%
Price spread now: Bybit against Kraken Futures+0.021%7-day average −0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$61as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$290.290% of the position
Funding, last 7 days−0.322%−$32 on $10k
+Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.021%, 7d avg −0.007%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bybit is 0.028% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.007%. Mind the row above: over the last 7 days funding on this pair cost −0.322%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PAXGUSD | 4,317.4 | −0.0044 | get 0.0006% / 1h | 21m 45s | $1.2M | $1.9M | 20x |
| Short | Bybit PAXGUSDT | 4,318.4 | 0.0100 | get 0.0050% / 4h | 1h 21m | $14.9M | $4.0M | 75x |
Kraken Futures PF_PAXGUSD
Bybit PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Kraken Futures. 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
- $30.32
- Price spread: +0.021% → −0.007%
- $2.82
- Slippage, 4 orders
- −$8.02
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $4.12
- Costs to cover
- 0.290%
- Break-even
- 6.0 days
Slippage from Kraken Futures: live order book, 2 min ago; Bybit: 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 Kraken Futures live order book, 2 min ago | 0.69 bp | 7.2 bp −$7 | 14.1 bp −$141 | 37.6 bp −$3,760 | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.12 bp | 6.4 bp −$6 | 9.6 bp −$96 | 24.3 bp −$2,425 | 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 | −0.0184% | 1h | 4,316.2 | −0.030% | $1.4M | $466K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0128% | 1h | 4,317.7 | +0.006% | $42K | $168K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0108% | 4h | 4,318 | +0.012% | $1.5M | $2.0M | 10x | as long as short |
| Kraken Futures PF_PAXGUSDlong | −0.0044% | 1h | 4,317.4 | long leg | $1.2M | $1.9M | 20x | |
| Extended PAXG-USD | −0.0008% | 1h | 4,316.1 | −0.030% | $378K | $625K | 25x | as long as short |
| Binance PAXGUSDT | −0.0006% | 4h | 4,318.3 | +0.021% | $79.6M | $75.1M | 75x | as long as short |
| MEXC PAXG_USDT | −0.0006% | 4h | 4,322.7 | +0.121% | $16.5M | $1.0M | 100x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,317.9 | +0.010% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,319 | +0.036% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,313.1 | −0.101% | $2K | $3.4M | 20x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
Extended PAXG-USD
Binance PAXGUSDT
MEXC PAXG_USDT
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,321.3 | +0.090% | $7.9M | $850K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,322 | +0.104% | $903K | $771K | 75x | as long as short |
| Aster PAXGUSDT | +0.0011% | 4h | 4,320 | +0.059% | $901K | $27K | 50x | as long as short |
| ApeX Omni PAXGUSDT | +0.0013% | 1h | 4,317.9 | +0.011% | $261K | $772K | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.692% | $1K | $151K | 30x | as long as short |
| Paradex PAXG-USD-PERP | +0.0098% | 8h | 4,318.3 | +0.021% | $85K | $3.3M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,316.4 | −0.024% | $554 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,318.2 | +0.018% | $20.8M | $2.4M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,319.8 | +0.054% | $1.0M | $316K | 10x | as long as short |
| Bybit PAXGUSDTshort | +0.0100% | 4h | 4,318.4 | +0.021% | $14.9M | $4.0M | 75x | |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,319.5 | +0.047% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,317.4 | −0.002% | $9.4M | $16.5M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,318.5 | +0.025% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,317.5 | +0.002% | $1.3M | $826K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,316.9 | −0.013% | $12.3M | $223K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,315 | −0.057% | $1.5M | $52K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,316.6 | −0.019% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,319.4 | +0.046% | $948K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0792% | 1h | 4,328.3 | +0.252% | $29K | $23K | 10x | as long as short |
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Aster PAXGUSDT
ApeX Omni PAXGUSDT
Injective PAXG/USDC PERP
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Pacifica PAXG
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD