Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.50 per $10,000 · paid last 24h +0.030%
Price spread now: Phemex against SunX+0.001%7-day average +0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1171.166% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 3 days (all we have)+0.058%+$6 · spread now +0.001%, 7d avg +0.056%
=Funding pays, the price is against you. Phemex is 0.055% cheaper against SunX than usual: you would sell low and buy high (spread +0.001% now, against its 7-day average of +0.056%). If the spread goes back, that is −$6 on $10k: about 44 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SunX PAXG-USDT | 4,340 | 0 | get 0.0000% / 4h | 1h 47m | $2K | $4.0M | 20x |
| Short | Phemex PAXGUSDT | 4,340 | 0.0100 | get 0.0050% / 4h | 1h 47m | $1.5M | $38K | 50x |
SunX PAXG-USDT
Phemex PAXGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against SunX. 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: +0.001% → +0.056%
- −$5.54
- Slippage, 4 orders
- −$96.62
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$101.16
- Costs to cover
- 1.166%
- Break-even
- 40.7 days
Slippage from SunX: live order book, 10 min ago; Phemex: live order book, 5 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 SunX live order book, 10 min ago | 21.53 bp | 38.3 bp −$38 | 67.5 bp −$675 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 3.46 bp | 23.6 bp −$24 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PAXG-USD | 0.0000% | 1h | 4,343.7 | +0.087% | $101K | $13K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,347.1 | +0.165% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDTlong | 0.0000% | 4h | 4,340 | long leg | $2K | $4.0M | 20x | |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,348.8 | +0.205% | $7.9M | $865K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,347 | +0.162% | $909K | $656K | 75x | as long as short |
| Hibachi PAXG/USDT-P | +0.0016% | 1h | 4,345.4 | +0.125% | $47K | $146K | 20x | as long as short |
| Injective PAXG/USDC PERP | +0.0033% | 1h | 4,337 | −0.068% | $1K | $121K | 30x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0080% | 1h | 4,346.1 | +0.142% | $1.3M | $1.4M | 20x | as long as short |
| Lighter PAXG | +0.0096% | 1h | 4,344 | +0.093% | $1.4M | $273K | 25x | as long as short |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,344.6 | +0.107% | $80K | $3.7M | 50x | as long as short |
dYdX PAXG-USD
Gate PAXG_USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Hibachi PAXG/USDT-P
Injective PAXG/USDC PERP
Kraken Futures PF_PAXGUSD
Lighter PAXG
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 | 4,345 | +0.116% | $20.3M | $1.8M | 10x | as long as short |
| Aster PAXGUSDT | +0.0100% | 4h | 4,344.9 | +0.115% | $907K | $28K | 50x | as long as short |
| Pacifica PAXG | +0.0100% | 1h | 4,345.9 | +0.138% | $1.0M | $368K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,345 | +0.115% | $80.0M | $67.9M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,345.4 | +0.124% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,342.4 | +0.056% | $16.0M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,347.1 | +0.164% | $26.8M | $5.3M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,345.8 | +0.134% | $9.3M | $13.3M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,345.5 | +0.126% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,346.2 | +0.143% | $1.4M | $955K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,344 | +0.093% | $12.4M | $114K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,345.2 | +0.120% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,340.7 | +0.016% | $263K | $798K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,343.8 | +0.088% | $557 | — | 10x | as long as short |
| Phemex PAXGUSDTshort | +0.0100% | 4h | 4,340 | +0.001% | $1.5M | $38K | 50x | |
| Extended PAXG-USD | +0.0104% | 1h | 4,344.4 | +0.101% | $377K | $1.2M | 25x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,344.9 | +0.114% | $21K | — | 100x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0320% | 1h | 4,347.6 | +0.176% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.1440% | 1h | 4,361.2 | +0.489% | $29K | $21K | 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
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Extended PAXG-USD
Reya PAXGRUSDPERP
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD