Funding you earn now, next payment 10:00 UTC+0.0072%/8h= +7.9% APRnext payment +$0.09 per $10,000 · paid last 24h −0.030%
Price spread now: Hibachi against Lighter+0.087%7-day average +0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs+$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$380.377% of the position
Funding, last 7 days+0.501%+$50 on $10k
+Price spread, last 4 days (all we have)−0.085%−$9 · spread now +0.087%, 7d avg +0.015%
=Together, before fees+0.416%+ Points / potential airdropLighter: Season 3 · Hibachi: Active · farm board+$42 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hibachi is 0.073% dearer against Lighter than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.015%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter PAXG | 4,322.8 | −0.0072 | get 0.0009% / 1h | 57m 03s | $1.4M | $500K | 25x |
| Short | Hibachi PAXG/USDT-P | 4,326.6 | 0 | get 0.0000% / 1h | 57m 03s | $41K | $190K | 20x |
Lighter PAXG
Hibachi PAXG/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Lighter. 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
- $15.12
- Price spread: +0.087% → +0.015%
- $7.26
- Slippage, 4 orders
- −$28.72
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$15.34
- Costs to cover
- 0.377%
- Break-even
- 14.1 days
Slippage from Lighter: live order book, 4 min ago; Hibachi: live order book, 37 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 | 1.92 bp | 2.2 bp −$2 | 4.7 bp −$47 | 23.0 bp −$2,295 | doesn't fit |
| Sell Hibachi live order book, 37 min ago | 0.44 bp | 15.3 bp −$15 | 48.7 bp −$487 | 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 PAXGlong | −0.0072% | 1h | 4,322.8 | long leg | $1.4M | $500K | 25x | |
| GRVT PAXG_USDT_Perp | −0.0056% | 4h | 4,328.1 | +0.124% | $1.5M | $2.0M | 10x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,328.5 | +0.132% | $115K | $15K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,327.3 | +0.105% | $15.7M | $3.9M | 100x | as long as short |
| Hibachi PAXG/USDT-Pshort | 0.0000% | 1h | 4,326.6 | +0.087% | $41K | $190K | 20x | |
| SunX PAXG-USDT | 0.0000% | 4h | 4,320.8 | −0.047% | $2K | $3.1M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,329.2 | +0.148% | $7.9M | $428K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,327.4 | +0.108% | $909K | $824K | 75x | as long as short |
| Extended PAXG-USD | +0.0024% | 1h | 4,323.9 | +0.025% | $375K | $1.5M | 25x | as long as short |
| MEXC PAXG_USDT | +0.0024% | 4h | 4,329.4 | +0.153% | $16.6M | $1.3M | 100x | as long as short |
GRVT PAXG_USDT_Perp
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Extended PAXG-USD
MEXC PAXG_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PAXGUSDT | +0.0024% | 4h | 4,324.2 | +0.033% | $9.2M | $16.4M | 50x | as long as short |
| Binance PAXGUSDT | +0.0027% | 4h | 4,325.3 | +0.057% | $80.2M | $82.3M | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.567% | $1K | $151K | 30x | as long as short |
| ApeX Omni PAXGUSDT | +0.0040% | 1h | 4,328.1 | +0.124% | $262K | $805K | 50x | as long as short |
| Aster PAXGUSDT | +0.0044% | 4h | 4,327.1 | +0.101% | $906K | $38K | 50x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0085% | 1h | 4,325.6 | +0.065% | $1.2M | $2.1M | 20x | as long as short |
| Paradex PAXG-USD-PERP | +0.0087% | 8h | 4,323.3 | +0.011% | $80K | $4.4M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,325.6 | +0.065% | $21.3M | $2.6M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,326.4 | +0.084% | $1.0M | $309K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,326.3 | +0.081% | $15.0M | $4.7M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,327.3 | +0.105% | $28.8M | $5.5M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,326.6 | +0.089% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,325.9 | +0.073% | $1.2M | $862K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,326.8 | +0.094% | $12.2M | $291K | — | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,324.9 | +0.049% | $555 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,321 | −0.041% | $1.5M | $80K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,323.5 | +0.018% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,330.6 | +0.181% | $933K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.2816% | 1h | 4,335.5 | +0.294% | $29K | $24K | 10x | as long as short |
Bitget PAXGUSDT
Binance PAXGUSDT
Injective PAXG/USDC PERP
ApeX Omni PAXGUSDT
Aster PAXGUSDT
Kraken Futures PF_PAXGUSD
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD