Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.038%
Price spread now: dYdX against Phemex−0.075%7-day average +0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$112as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$860.865% of the position
Funding, last 7 days−0.252%−$25 on $10k
+Price spread, last 3 days (all we have)+0.112%+$11 · spread now −0.075%, 7d avg +0.054%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.129% cheaper against Phemex than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.054%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,350 | 0.0100 | pay 0.0050% / 4h | 2h 39m | $1.5M | $38K | 50x |
| Short | dYdX PAXG-USD | 4,346.8 | 0 | get 0.0000% / 1h | 39m 09s | $101K | $12K | 5x |
Phemex PAXGUSDT
dYdX PAXG-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$21
- Price spread: −0.075% → +0.054%
- −$12.9
- Slippage, 4 orders
- −$64.46
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$120.36
- Costs to cover
- 0.865%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; dYdX: live order book, 30 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, 4 min ago | 5.75 bp | 27.5 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell dYdX live order book, 30 min ago | 12.64 bp | 17.6 bp −$18 | 64.1 bp −$641 | 183.7 bp −$18.4K | 895.5 bp −$447.8K |
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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USDshort | 0.0000% | 1h | 4,346.8 | −0.075% | $101K | $12K | 5x | |
| Gate PAXG_USDT | 0.0000% | 8h | 4,351 | +0.023% | $15.7M | $3.5M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,345.6 | −0.102% | $2K | $3.8M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,353.2 | +0.074% | $7.9M | $873K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,354.9 | +0.112% | $905K | $628K | 75x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | −0.062% | $1K | $151K | 30x | as long as short |
| Hibachi PAXG/USDT-P | +0.0056% | 1h | 4,349 | −0.024% | $42K | $160K | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,349.2 | −0.019% | $1.4M | $304K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,348 | −0.047% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,350.1 | +0.002% | $20.7M | $2.1M | 10x | as long as short |
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Injective PAXG/USDC PERP
Hibachi PAXG/USDT-P
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXGShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PAXGUSDT | +0.0100% | 4h | 4,349.3 | −0.016% | $907K | $29K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,350.2 | +0.005% | $1.0M | $366K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,349.5 | −0.011% | $80.2M | $70.7M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,350.9 | +0.021% | $15.2M | $3.5M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,350.5 | +0.011% | $16.2M | $1.1M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,352 | +0.047% | $28.4M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,350.6 | +0.013% | $9.7M | $15.1M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,350.4 | +0.009% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,350.8 | +0.018% | $1.4M | $803K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,349.3 | −0.017% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,349.9 | −0.001% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,350.4 | +0.010% | $263K | $787K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,348.5 | −0.034% | $558 | — | 10x | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,350 | long leg | $1.5M | $38K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,348.5 | −0.035% | $380K | $1.4M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,349.9 | −0.002% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0247% | 1h | 4,350.8 | +0.018% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0312% | 1h | 4,359.1 | +0.210% | $973K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0992% | 1h | 4,359.8 | +0.225% | $29K | $23K | 10x | as long as short |
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
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Extended PAXG-USD
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD