Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.50 per $10,000 · paid last 24h −0.028%
Price spread now: HTX against Phemex+0.116%7-day average +0.200% · you sell dearer than you buy
Net, funding: paid 7d − costs−$97as in the Funding arb table
Net, price: spread back to 7d avg − costs−$97as in the Price arb table
costs, in and out, $10k−$890.887% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 4 days (all we have)+0.088%+$9 · spread now +0.116%, 7d avg +0.200%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.084% cheaper against Phemex than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.200%). Swap the legs.
| 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 14m | $1.5M | $38K | 50x |
| Short | HTX PAXG-USDT | 4,340 | 0 | get 0.0000% / 4h | 3h 14m | $903K | $689K | 75x |
Phemex PAXGUSDT
HTX PAXG-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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: +0.116% → +0.200%
- −$8.41
- Slippage, 4 orders
- −$64.69
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$118.1
- Costs to cover
- 0.887%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 3 min ago; HTX: live order book, 39 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, 3 min ago | 5.77 bp | 24.8 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
| Sell HTX live order book, 39 min ago | 0.74 bp | 21.8 bp −$22 | 25.4 bp −$254 | 28.7 bp −$2,869 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi PAXG/USDT-P | −0.0168% | 1h | 4,336.7 | +0.038% | $42K | $154K | 20x | as long as short |
| Lighter PAXG | −0.0144% | 1h | 4,335.5 | +0.010% | $1.4M | $368K | 25x | as long as short |
| ApeX Omni PAXGUSDT | −0.0028% | 1h | 4,335.3 | +0.008% | $262K | $785K | 50x | as long as short |
| GRVT PAXG_USDT_Perp | −0.0018% | 4h | 4,337.6 | +0.061% | $1.5M | $1.9M | 10x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,338.3 | +0.077% | $101K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,339.6 | +0.106% | $15.6M | $3.4M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,332.8 | −0.051% | $2K | $3.5M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,340.7 | +0.133% | $7.9M | $843K | 50x | as long as short |
| HTX PAXG-USDTshort | 0.0000% | 4h | 4,340 | +0.116% | $903K | $689K | 75x | |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,347.3 | +0.284% | $1K | $151K | 30x | as long as short |
Hibachi PAXG/USDT-P
Lighter PAXG
ApeX Omni PAXGUSDT
GRVT PAXG_USDT_Perp
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
Injective PAXG/USDC PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC PAXG_USDT | +0.0038% | 4h | 4,339.3 | +0.099% | $16.1M | $1.0M | 100x | as long as short |
| Binance PAXGUSDT | +0.0038% | 4h | 4,337 | +0.045% | $79.9M | $70.5M | 75x | as long as short |
| Extended PAXG-USD | +0.0040% | 1h | 4,335.7 | +0.016% | $379K | $1.5M | 25x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0065% | 1h | 4,337.9 | +0.067% | $1.3M | $1.4M | 20x | as long as short |
| Aster PAXGUSDT | +0.0090% | 4h | 4,336.7 | +0.039% | $905K | $27K | 50x | as long as short |
| Paradex PAXG-USD-PERP | +0.0099% | 8h | 4,337.4 | +0.056% | $81K | $3.5M | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,334.9 | −0.002% | $556 | — | 10x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,336.8 | +0.042% | $20.8M | $2.3M | 10x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,338.9 | +0.089% | $1.0M | $340K | 10x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,337.9 | +0.066% | $14.9M | $3.8M | 75x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,339.7 | +0.108% | $28.6M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,337.3 | +0.052% | $9.7M | $15.2M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,337.8 | +0.065% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,337.7 | +0.062% | $1.3M | $799K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,336.5 | +0.034% | $12.3M | $222K | — | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,335 | long leg | $1.5M | $38K | 50x | |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,336.6 | +0.036% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,339.1 | +0.095% | $956K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0896% | 1h | 4,348.4 | +0.309% | $29K | $24K | 10x | as long as short |
MEXC PAXG_USDT
Binance PAXGUSDT
Extended PAXG-USD
Kraken Futures PF_PAXGUSD
Aster PAXGUSDT
Paradex PAXG-USD-PERP
Orderly PERP_PAXG_USDC_mythos
Hyperliquid PAXG
Pacifica PAXG
Bybit PAXGUSDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD