Funding you earn now, next payment 04:00 UTC−0.0210%/8h= −23.0% APRnext payment −$0.26 per $10,000 · paid last 24h −0.033%
Price spread now: Deribit against Kraken Futures+0.045%59s7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$86as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$310.312% of the position
Funding, last 7 days−0.545%−$55 on $10k
+Price spread, last 4 days (all we have)−0.015%−$1 · spread now +0.045%, 7d avg +0.032%
=The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 59 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 | Kraken Futures PF_PAXGUSD | 4,340.7 | 0.0210 | pay 0.0026% / 1h | 12m 24s | $1.3M | $1.4M | 20x |
| Short | Deribit PAXG_USDC-PERPETUAL | 4,342.7 | 0 | get 0.0000% / 1h | 12m 24s | $7.9M | $868K | 50x |
Kraken Futures PF_PAXGUSD
Deribit PAXG_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$44.14
- Price spread: +0.045% → +0.032%
- $1.28
- Slippage, 4 orders
- −$14.22
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$74.08
- Costs to cover
- 0.312%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Deribit: 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, 1 min ago | 0.81 bp | 6.5 bp −$7 | 9.1 bp −$91 | 36.7 bp −$3,670 | doesn't fit |
| Sell Deribit live order book, 2 min ago | 3.95 bp | 7.4 bp −$7 | 14.1 bp −$141 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0136% | 1h | 4,340.6 | −0.003% | $42K | $155K | 20x | as long as short |
| Lighter PAXG | −0.0008% | 1h | 4,338.4 | −0.052% | $1.4M | $357K | 25x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,342 | +0.030% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,341.7 | +0.023% | $15.6M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,336.2 | −0.103% | $2K | $3.6M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALshort | 0.0000% | 1h | 4,342.7 | +0.045% | $7.9M | $868K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,346.1 | +0.124% | $904K | $686K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.152% | $1K | $151K | 30x | as long as short |
| ApeX Omni PAXGUSDT | +0.0064% | 1h | 4,339.2 | −0.036% | $262K | $789K | 50x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0066% | 4h | 4,340.1 | −0.014% | $1.5M | $1.9M | 10x | as long as short |
Hibachi PAXG/USDT-P
Lighter PAXG
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
Injective PAXG/USDC PERP
ApeX Omni PAXGUSDT
GRVT PAXG_USDT_PerpShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,339.5 | −0.029% | $81K | $3.7M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,338.9 | −0.042% | $557 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,340.1 | −0.014% | $20.8M | $2.4M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,340.9 | +0.005% | $906K | $26K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,341.5 | +0.018% | $1.0M | $340K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,338.7 | −0.046% | $80.1M | $70.8M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,341 | +0.007% | $14.9M | $3.8M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.4 | +0.039% | $16.1M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,342.1 | +0.031% | $28.6M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,339.4 | −0.030% | $9.6M | $14.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,340.2 | −0.012% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,340.9 | +0.004% | $1.3M | $806K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,343.1 | +0.055% | $12.5M | $97K | — | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,341 | +0.007% | $1.5M | $40K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,337.9 | −0.065% | $379K | $1.5M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,339 | −0.040% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSDlong | +0.0210% | 1h | 4,340.7 | long leg | $1.3M | $1.4M | 20x | |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,346.5 | +0.132% | $968K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0864% | 1h | 4,350.2 | +0.219% | $29K | $23K | 10x | as long as short |
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
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
Phemex PAXGUSDT
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD