PAXG

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0384%/8h= +42.0% APRnext payment +$0.48 per $10,000 · paid last 24h +0.060%

Price spread now: Coinbase International against Lighter+0.258%7-day average +0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.303%+$30 on $10k

Price spread, last 4 days (all we have)−0.114%−$11 · spread now +0.258%, 7d avg +0.103%

Together, before fees+0.189%+ Points / potential airdropLighter: Season 3 · farm board+$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Coinbase International is 0.155% dearer against Lighter than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PAXG	4,322.3	−0.0136	get 0.0017% / 1h	1m 46s	$1.4M	$392K	25x
Short	Coinbase International PAXG-PERP-INTX	4,333.5	0.0248	get 0.0031% / 1h	1m 46s	$978K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.258%Rate

Funding earned: $80.64
Price spread: +0.258% → +0.103%: $15.5
Slippage, 4 orders: −$9.87
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $76.27
Costs to cover: 0.199%
Break-even: 0.4 days

Slippage from Lighter: live order book, 4 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 Lighter live order book, 4 min ago	1.52 bp	1.7 bp −$2	3.7 bp −$37	19.6 bp −$1,964	doesn't fit
Sell Coinbase International live order book, 2 min ago	2.62 bp	8.5 bp −$9	10.6 bp −$106	119.2 bp −$11.9K	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 PAXGlong	−0.0136%	1h	4,322.3	long leg	$1.4M	$392K	25x
Hibachi PAXG/USDT-P	−0.0112%	1h	4,324.6	+0.053%	$42K	$165K	20x	as long as short
Kraken Futures PF_PAXGUSD	−0.0102%	1h	4,324.4	+0.049%	$1.2M	$1.9M	20x	as long as short
GRVT PAXG_USDT_Perp	−0.0058%	4h	4,330.7	+0.195%	$1.5M	$2.0M	10x	as long as short
ApeX Omni PAXGUSDT	−0.0007%	1h	4,327.7	+0.124%	$262K	$783K	50x	as long as short
dYdX PAXG-USD	0.0000%	1h	4,325.2	+0.068%	$101K	$12K	5x	as long as short
Gate PAXG_USDT	0.0000%	8h	4,326.1	+0.088%	$15.6M	$3.8M	100x	as long as short
SunX PAXG-USDT	0.0000%	4h	4,320.6	−0.039%	$1K	$3.4M	20x	as long as short
Deribit PAXG_USDC-PERPETUAL	0.0000%	1h	4,328	+0.133%	$7.9M	$835K	50x	as long as short
HTX PAXG-USDT	0.0000%	4h	4,330.5	+0.190%	$902K	$746K	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PAXGUSDT	+0.0010%	4h	4,324	+0.038%	$79.7M	$74.3M	75x	as long as short
MEXC PAXG_USDT	+0.0012%	4h	4,326.2	+0.089%	$16.5M	$1.1M	100x	as long as short
Extended PAXG-USD	+0.0016%	1h	4,322.4	+0.003%	$376K	$1.4M	25x	as long as short
Injective PAXG/USDC PERP	+0.0033%	1h	4,347.3	+0.578%	$1K	$151K	30x	as long as short
Aster PAXGUSDT	+0.0037%	4h	4,326.2	+0.091%	$903K	$27K	50x	as long as short
Paradex PAXG-USD-PERP	+0.0097%	8h	4,324.3	+0.046%	$81K	$3.2M	50x	as long as short
Orderly PERP_PAXG_USDC_mythos	+0.0100%	4h	4,323.9	+0.037%	$555	—	10x	as long as short
Hyperliquid PAXG	+0.0100%	1h	4,324.2	+0.044%	$20.8M	$2.4M	10x	as long as short
Pacifica PAXG	+0.0100%	1h	4,326.2	+0.090%	$1.0M	$336K	10x	as long as short
Bybit PAXGUSDT	+0.0100%	4h	4,325.1	+0.065%	$14.9M	$4.0M	75x	as long as short
KuCoin PAXGUSDTM	+0.0100%	4h	4,326	+0.086%	$28.5M	$5.3M	30x	as long as short
Bitget PAXGUSDT	+0.0100%	4h	4,323.5	+0.028%	$9.3M	$16.1M	50x	as long as short
BingX PAXG-USDT	+0.0100%	4h	4,325.4	+0.071%	—	$6.8M	—	as long as short
Backpack PAXG_USDC_PERP	+0.0100%	1h	4,324.5	+0.050%	$1.3M	$811K	50x	as long as short
Variational Omni PAXG	+0.0100%	4h	4,330	+0.178%	$12.3M	$221K	—	as long as short
Phemex PAXGUSDT	+0.0100%	4h	4,321	−0.030%	$1.5M	$46K	50x	as long as short
Reya PAXGRUSDPERP	+0.0189%	1h	4,323.5	+0.028%	$20K	—	100x	as long as short
Coinbase International PAXG-PERP-INTXshort	+0.0248%	1h	4,333.5	+0.258%	$978K	$1.1M	50x
01 Exchange PAXGUSD	+0.0856%	1h	4,335.1	+0.296%	$29K	$24K	10x	as long as short