Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.029%
Price spread now: Deribit against Orderly+0.095%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Deribit is 0.095% dearer against Orderly than usual: you sell high and buy low (spread +0.095% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_PAXG_USDC_mythos | 4,302.8 | 0.0100 | pay 0.0050% / 4h | 3h 41m | $552 | — | 10x |
| Short | Deribit PAXG_USDC-PERPETUAL | 4,306.9 | 0 | get 0.0000% / 1h | 41m 35s | $7.9M | $599K | 50x |
Orderly PERP_PAXG_USDC_mythos
Deribit PAXG_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Orderly. 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
- −$21
- Price spread: +0.095% → 0.000%
- $9.55
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$24.45
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 2 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 2 min ago | 4.84 bp | 8.9 bp −$9 | 14.6 bp −$146 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0208% | 1h | 4,301 | −0.043% | $1.4M | $610K | 25x | as long as short |
| Hibachi PAXG/USDT-P | −0.0176% | 1h | 4,303.6 | +0.018% | $42K | $172K | 20x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0130% | 4h | 4,305.5 | +0.062% | $1.5M | $1.9M | 10x | as long as short |
| Kraken Futures PF_PAXGUSD | −0.0097% | 1h | 4,303.1 | +0.007% | $1.2M | $1.7M | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,306.2 | +0.080% | $100K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,305.1 | +0.053% | $15.6M | $3.8M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,298.5 | −0.099% | $2K | $3.2M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUALshort | 0.0000% | 1h | 4,306.9 | +0.095% | $7.9M | $599K | 50x | |
| HTX PAXG-USDT | 0.0000% | 4h | 4,309.5 | +0.157% | $905K | $817K | 75x | as long as short |
| MEXC PAXG_USDT | +0.0012% | 4h | 4,312.4 | +0.224% | $16.7M | $1.2M | 100x | as long as short |
Lighter PAXG
Hibachi PAXG/USDT-P
GRVT PAXG_USDT_Perp
Kraken Futures PF_PAXGUSD
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
HTX PAXG-USDT
MEXC PAXG_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance PAXGUSDT | +0.0012% | 4h | 4,302.6 | −0.006% | $80.0M | $79.8M | 75x | as long as short |
| Extended PAXG-USD | +0.0016% | 1h | 4,301.4 | −0.032% | $377K | $1.6M | 25x | as long as short |
| Aster PAXGUSDT | +0.0023% | 4h | 4,302.8 | 0.000% | $899K | $33K | 50x | as long as short |
| Bitget PAXGUSDT | +0.0026% | 4h | 4,302.3 | −0.011% | $9.4M | $15.6M | 50x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +1.034% | $1K | $151K | 30x | as long as short |
| Paradex PAXG-USD-PERP | +0.0096% | 8h | 4,302.1 | −0.015% | $91K | $4.2M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,302.7 | −0.002% | $21.0M | $2.5M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,304.5 | +0.040% | $1.0M | $304K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,303.4 | +0.014% | $14.8M | $4.3M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,304.7 | +0.045% | $28.7M | $5.4M | 30x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,304.5 | +0.038% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,302.9 | +0.002% | $1.2M | $856K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,310 | +0.168% | $12.2M | $230K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,305.4 | +0.061% | $261K | $771K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythoslong | +0.0100% | 4h | 4,302.8 | long leg | $552 | — | 10x | |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,304 | +0.028% | $1.5M | $67K | 50x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,302.2 | −0.014% | $20K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0232% | 1h | 4,309 | +0.144% | $934K | $1.0M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0816% | 1h | 4,313.8 | +0.256% | $29K | $23K | 10x | as long as short |
Binance PAXGUSDT
Extended PAXG-USD
Aster PAXGUSDT
Bitget PAXGUSDT
Injective PAXG/USDC PERP
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
ApeX Omni PAXGUSDT
Phemex PAXGUSDT
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD