PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0279%/8h= +30.6% APRnext payment +$0.35 per $10,000 · paid last 24h +0.050%

Price spread now: Coinbase International against Kraken Futures+0.068%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.275% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$4 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.068%, 7d avg +0.069%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.069%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.035% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PAXGUSD	4,319.2	−0.0055	get 0.0007% / 1h	55m 57s	$1.2M	$1.9M	20x
Short	Coinbase International PAXG-PERP-INTX	4,322.2	0.0224	get 0.0028% / 1h	55m 57s	$949K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now +0.068%Rate

Funding earned: $58.64
Price spread: +0.068% → +0.069%: −$0.09
Slippage, 4 orders: −$7.53
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $31.02
Costs to cover: 0.275%
Break-even: 3.3 days

Slippage from Kraken Futures: live order book, 3 min ago; Coinbase International: 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, 3 min ago	0.23 bp	7.5 bp −$8	13.6 bp −$136	39.2 bp −$3,919	doesn't fit
Sell Coinbase International live order book, 2 min ago	1.41 bp	6.4 bp −$6	14.2 bp −$142	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	−0.0136%	1h	4,317	−0.051%	$1.4M	$478K	25x	as long as short
GRVT PAXG_USDT_Perp	−0.0106%	4h	4,317.7	−0.036%	$1.5M	$2.0M	10x	as long as short
Hibachi PAXG/USDT-P	−0.0072%	1h	4,318.6	−0.014%	$42K	$165K	20x	as long as short
Kraken Futures PF_PAXGUSDlong	−0.0055%	1h	4,319.2	long leg	$1.2M	$1.9M	20x
Binance PAXGUSDT	0.0000%	4h	4,319.5	+0.005%	$79.7M	$75.0M	75x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,317.9	−0.031%	$101K	$12K	5x	as long as short
Extended PAXG-USD	0.0000%	1h	4,318.1	−0.026%	$376K	$1.1M	25x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,321.1	+0.043%	$15.6M	$3.6M	100x	as long as short
MEXC PAXG_USDT	0.0000%	4h	4,324	+0.111%	$16.6M	$1.0M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,315.7	−0.081%	$2K	$3.3M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,323.2	+0.093%	$7.9M	$687K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,322.7	+0.080%	$903K	$775K	75x	as long as short
Aster PAXGUSDT	+0.0013%	4h	4,320.2	+0.023%	$901K	$27K	50x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.650%	$1K	$151K	30x	as long as short
ApeX Omni PAXGUSDT	+0.0045%	1h	4,317.3	−0.044%	$261K	$773K	50x	as long as short
Bitget PAXGUSDT	+0.0092%	4h	4,318.8	−0.009%	$9.4M	$16.4M	50x	as long as short
Paradex PAXG-USD-PERP	+0.0098%	8h	4,318.3	−0.022%	$85K	$3.3M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,319.5	+0.006%	$554	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,319.7	+0.011%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,320.7	+0.034%	$1.0M	$306K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,319.5	+0.005%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,321.2	+0.047%	$28.6M	$5.3M	30x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,320	+0.017%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,319.5	+0.005%	$1.3M	$821K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,316.8	−0.056%	$12.3M	$223K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,317	−0.052%	$1.5M	$52K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,318.6	−0.014%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0224%	1h	4,322.2	+0.068%	$949K	$1.0M	50x
01 Exchange PAXGUSD	+0.0832%	1h	4,330	+0.249%	$29K	$23K	10x	as long as short