PAXG · Convergence Trade
Current Spread (mark)
updated 26s ago-0.035%higher than 93% of spread values(window 1D)
long $4,149.3 · short $4,147.86
Entry Spread (order book)-0.042%on $10,000
long $4,149.47 · short $4,147.73(average execution prices, not mark)
market median $4,150.23· long -0.0%· short -0.1%
⚠ Spread is inverted — Backpack is cheaper than Hyperliquid. Convergence trade only profits with positive spread.
Size per leg$= $20,000 total
every figure below scales from thisProfit Calculator
Convergence trade not applicable
Current spread is negative — short leg is cheaper than long. Either wait for spread to flip positive, or swap legs (button in Hero above) to invert the trade direction.
Spread Statistics
Window: 24h · 285 samples
Current
-0.035%
93 pct
Median
-0.057%
Average
-0.055%
P25 → P75
-0.067% … -0.043%
Range
-0.085% … -0.014%
Std dev
±0.014%
Size per leg$= $20,000 total
chart range
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Live spread — order book
on size $10,000Collecting live order-book data…
Rebuilt from stored order books (last 3h) and updated every ~15s while the page is open. IN is the spread to open the position, OUT is the spread to close it; positive means the trade works in your favour. Both are walked for your position size, so they already include what depth costs you.
LONG
Hyperliquid(dex)
Hyperliquid(dex)- Mark Price
- $4,149.3
- Exchange Ticker
- PAXG
- Taker / Maker
- 0.045% / 0.015%
- Funding APR(1h)
- +10.96%
- OI
- $22.39M
- 24h Vol
- $846.78K
⚠ slippage not modeled (virtual liquidity / RFQ venue)
Trade LongSHORT
Backpack(cex)
Backpack(cex)- Mark Price
- $4,147.86
- Exchange Ticker
- PAXG_USDC_PERP
- Taker / Maker
- 0.05% / 0.02%
- Funding APR(1h)
- +10.96%
- OI
- $1.09M
- 24h Vol
- $150.62K
⚠ slippage not modeled (virtual liquidity / RFQ venue)
Trade Short285 long / 285 short samples · 2 days · auto-refresh every 30s