Funding you earn now, next payment 20:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.051%
Price spread now: Coinbase International against Phemex+0.178%7-day average +0.136% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$650.646% of the position
Funding, last 7 days+0.263%+$26 on $10k
+Price spread, last 3 days (all we have)−0.028%−$3 · spread now +0.178%, 7d avg +0.136%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.042% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.136%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,335 | 0.0100 | pay 0.0050% / 4h | 3h 32m | $1.5M | $38K | 50x |
| Short | Coinbase International PAXG-PERP-INTX | 4,342.7 | 0.0312 | get 0.0039% / 1h | 32m 01s | $998K | $1.1M | 50x |
Phemex PAXGUSDT
Coinbase International PAXG-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Phemex. 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
- $44.52
- Price spread: +0.178% → +0.136%
- $4.23
- Slippage, 4 orders
- −$42.59
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$15.85
- Costs to cover
- 0.646%
- Break-even
- 9.5 days
Slippage from Phemex: live order book, 1 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 Phemex live order book, 1 min ago | 5.77 bp | 25.6 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 2.13 bp | 7.1 bp −$7 | 16.6 bp −$166 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | −0.0102% | 1h | 4,347.7 | +0.293% | $1K | $92K | 30x | as long as short |
| Hibachi PAXG/USDT-P | −0.0048% | 1h | 4,337.8 | +0.064% | $41K | $156K | 20x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,340.1 | +0.117% | $101K | $18K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,340 | +0.115% | $15.8M | $4.3M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,332.4 | −0.060% | $2K | $4.1M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,341.6 | +0.152% | $7.9M | $837K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,343.3 | +0.192% | $907K | $664K | 75x | as long as short |
| Lighter PAXG | +0.0064% | 1h | 4,336.3 | +0.030% | $1.4M | $519K | 25x | as long as short |
| GRVT PAXG_USDT_Perp | +0.0080% | 4h | 4,337.5 | +0.059% | $1.5M | $2.1M | 10x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,337.1 | +0.048% | $80K | $3.7M | 50x | as long as short |
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Lighter PAXG
GRVT PAXG_USDT_Perp
Paradex PAXG-USD-PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PAXG | +0.0100% | 1h | 4,336.7 | +0.039% | $20.3M | $1.9M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,337.9 | +0.066% | $905K | $76K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,338.8 | +0.087% | $1.0M | $352K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,337.2 | +0.050% | $79.9M | $69.2M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,337.6 | +0.059% | $14.8M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,339.4 | +0.102% | $15.9M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,339.6 | +0.106% | $26.7M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,337.8 | +0.063% | $9.3M | $14.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,337.9 | +0.068% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,338.7 | +0.086% | $1.4M | $1.2M | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,337.9 | +0.067% | $12.4M | $114K | — | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,335.7 | +0.016% | $262K | $792K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,337.7 | +0.062% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,335 | long leg | $1.5M | $38K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,336.6 | +0.037% | $377K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,337.3 | +0.053% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0212% | 1h | 4,338.7 | +0.084% | $1.3M | $1.5M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTXshort | +0.0312% | 1h | 4,342.7 | +0.178% | $998K | $1.1M | 50x | |
| 01 Exchange PAXGUSD | +0.1520% | 1h | 4,355.1 | +0.464% | $29K | $22K | 10x | as long as short |
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
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
01 Exchange PAXGUSD