Funding you earn now, next payment 00:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.024%
Price spread now: Injective against Phemex−0.268%65s7-day average +0.138% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.078%−$8 on $10k
+Price spread, last 3 days (all we have)+0.406%+$41 · spread now −0.268%, 7d avg +0.138%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Injective is 0.406% cheaper against Phemex than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of +0.138%). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex PAXGUSDT | 4,359 | 0.0100 | pay 0.0050% / 4h | 45m 32s | $1.5M | $38K | 50x |
| Short | Injective PAXG/USDC PERP | 4,347.3 | −0.0007 | pay 0.0001% / 1h | 45m 32s | $1K | $151K | 30x |
Phemex PAXGUSDT
Injective PAXG/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$22.53
- Price spread: −0.268% → +0.138%
- −$40.59
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$75.14
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 2 min ago; Injective: no order-book sample. 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 Phemex live order book, 2 min ago | 5.74 bp | 26.2 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERPshort | −0.0007% | 1h | 4,347.3 | −0.268% | $1K | $151K | 30x | |
| dYdX PAXG-USD | 0.0000% | 1h | 4,358.3 | −0.016% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,359.1 | +0.002% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,353.5 | −0.127% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,361.6 | +0.061% | $7.9M | $866K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,360.9 | +0.044% | $911K | $634K | 75x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,355.7 | −0.075% | $1.4M | $270K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,356.3 | −0.062% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXG | +0.0100% | 1h | 4,356.7 | −0.053% | $20.4M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,357.1 | −0.044% | $909K | $30K | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Lighter PAXG
Paradex PAXG-USD-PERP
Hyperliquid PAXG
Aster PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PAXG | +0.0100% | 1h | 4,358.9 | −0.002% | $1.0M | $344K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,356.4 | −0.059% | $80.0M | $68.4M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,357.1 | −0.043% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,355.1 | −0.090% | $16.1M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,359.2 | +0.005% | $27.0M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,356.5 | −0.056% | $9.9M | $13.9M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,357.9 | −0.026% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,359 | +0.001% | $1.4M | $955K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,358.7 | −0.007% | $12.5M | $104K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,359.6 | +0.013% | $1.6M | $1.9M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,358.2 | −0.019% | $264K | $795K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,358.5 | −0.011% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDTlong | +0.0100% | 4h | 4,359 | long leg | $1.5M | $38K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,355.9 | −0.072% | $378K | $1.2M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0144% | 1h | 4,358.7 | −0.007% | $48K | $141K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,355.6 | −0.077% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0286% | 1h | 4,359.2 | +0.006% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,362.5 | +0.081% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1000% | 1h | 4,367.6 | +0.197% | $29K | $23K | 10x | as long as short |
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
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD