Funding you earn now, next payment 12:00 UTC+0.0076%/8h= +8.3% APRnext payment +$0.38 per $10,000 · paid last 24h +0.004%
Price spread now: Phemex against MEXC−0.208%7-day average −0.172% · you buy dearer than you sell
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$69as in the Price arb table
costs, in and out, $10k−$650.653% of the position
Funding, last 7 days+0.062%+$6 on $10k
+Price spread, last 4 days (all we have)+0.153%+$15 · spread now −0.208%, 7d avg −0.172%
=Funding pays, the price is against you. Phemex is 0.036% cheaper against MEXC than usual: you would sell low and buy high (spread −0.208% now, against its 7-day average of −0.172%). If the spread goes back, that is −$4 on $10k: about 37 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.062% in total) that is about 4.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC PAXG_USDT | 4,330 | 0.0024 | pay 0.0012% / 4h | 2h 57m | $16.6M | $1.3M | 100x |
| Short | Phemex PAXGUSDT | 4,321 | 0.0100 | get 0.0050% / 4h | 2h 57m | $1.5M | $80K | 50x |
MEXC PAXG_USDT
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against MEXC. 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
- $15.96
- Price spread: −0.208% → −0.172%
- −$3.56
- Slippage, 4 orders
- −$49.32
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$52.92
- Costs to cover
- 0.653%
- Break-even
- 30.2 days
Slippage from MEXC: live order book, 1 min ago; Phemex: live order book, just now.
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 MEXC live order book, 1 min ago | 0.05 bp | 2.5 bp −$3 | 10.0 bp −$100 | 50.9 bp −$5,087 | 109.2 bp −$54.6K |
| Sell Phemex live order book, just now | 5.78 bp | 25.4 bp −$25 | doesn't fit | 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 | −0.0072% | 1h | 4,322.9 | −0.165% | $1.4M | $500K | 25x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0056% | 4h | 4,328.1 | −0.043% | $1.5M | $2.0M | 10x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,328.5 | −0.035% | $115K | $15K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,326.8 | −0.074% | $15.7M | $3.9M | 100x | as long as short |
| Hibachi PAXG/USDT-P | 0.0000% | 1h | 4,326.6 | −0.080% | $41K | $190K | 20x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,322 | −0.185% | $2K | $3.1M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,330 | +0.001% | $7.9M | $428K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,333.2 | +0.073% | $910K | $822K | 75x | as long as short |
| Extended PAXG-USD | +0.0024% | 1h | 4,323.1 | −0.159% | $375K | $1.5M | 25x | as long as short |
| MEXC PAXG_USDTlong | +0.0024% | 4h | 4,330 | long leg | $16.6M | $1.3M | 100x |
Lighter PAXG
GRVT PAXG_USDT_Perp
dYdX PAXG-USD
Gate PAXG_USDT
Hibachi PAXG/USDT-P
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Extended PAXG-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PAXGUSDT | +0.0024% | 4h | 4,323.9 | −0.140% | $9.2M | $16.3M | 50x | as long as short |
| Binance PAXGUSDT | +0.0027% | 4h | 4,324.7 | −0.122% | $80.1M | $82.2M | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.400% | $1K | $151K | 30x | as long as short |
| ApeX Omni PAXGUSDT | +0.0040% | 1h | 4,328.1 | −0.043% | $262K | $805K | 50x | as long as short |
| Aster PAXGUSDT | +0.0044% | 4h | 4,325.9 | −0.094% | $905K | $38K | 50x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0085% | 1h | 4,326.7 | −0.077% | $1.2M | $2.1M | 20x | as long as short |
| Paradex PAXG-USD-PERP | +0.0087% | 8h | 4,323.3 | −0.155% | $80K | $4.4M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,324 | −0.139% | $21.2M | $2.6M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,326.4 | −0.083% | $1.0M | $309K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,324.6 | −0.125% | $15.0M | $4.6M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,327.2 | −0.064% | $28.8M | $5.5M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,325.9 | −0.094% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,325.3 | −0.108% | $1.2M | $860K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,326.8 | −0.073% | $12.2M | $291K | — | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,327.6 | −0.055% | $555 | — | 10x | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,321 | −0.208% | $1.5M | $80K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,323.5 | −0.149% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,330.6 | +0.014% | $933K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.2816% | 1h | 4,335.5 | +0.127% | $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
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD