Funding you earn now, next payment 23:00 UTC−0.0147%/8h= −16.1% APRpaid last 24h −0.013%
Price spread now: Binance against Backpack−0.089%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.253%−$25 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.089% cheaper against Backpack than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PYTH_USDC_PERP | 0.06292 | 0.0100 | pay 0.0013% / 1h | 24m 47s | $38K | $88K | 10x |
| Short | Binance PYTHUSDT | 0.06287 | −0.0047 | pay 0.0024% / 4h | 1h 24m | $9.1M | $17.1M | 75x |
Backpack PYTH_USDC_PERP
Binance PYTHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Backpack. 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
- −$30.95
- Price spread: −0.089% → 0.000%
- −$8.85
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$59.8
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Binance: live order book, 16 min ago. 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 16 min ago | 1.59 bp | 14.9 bp −$15 | 37.4 bp −$374 | 261.1 bp −$26.1K | doesn't fit |
Backpack: 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.
PYTH on 23 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 PYTH/USDC PERP | −0.0428% | 1h | 0.06260 | −0.513% | $553 | $220K | 5.5x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0208% | 1h | 0.06288 | −0.067% | $382K | $252K | 25x | as long as short |
| BloFin PYTH-USDT | −0.0094% | 4h | 0.06276 | −0.259% | $420K | $114K | 75x | as long as short |
| Bybit PYTHUSDT | −0.0052% | 4h | 0.06289 | −0.052% | $7.4M | $5.1M | 50x | as long as short |
| Gate PYTH_USDT | −0.0048% | 4h | 0.06281 | −0.180% | $1.1M | $479K | 75x | as long as short |
| Binance PYTHUSDTshort | −0.0047% | 4h | 0.06287 | −0.089% | $9.1M | $17.1M | 75x | |
| MEXC PYTH_USDT | −0.0042% | 4h | 0.06288 | −0.068% | $9.2M | $2.3M | 125x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06289 | −0.051% | $187K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06292 | −0.005% | $10K | $10K | 10x | as long as short |
| Aevo PYTH-PERP | +0.0072% | 1h | 0.06285 | −0.111% | $22K | — | 3x | as long as short |
Injective PYTH/USDC PERP
Kraken Futures PF_PYTHUSD
BloFin PYTH-USDT
Bybit PYTHUSDT
Gate PYTH_USDT
MEXC PYTH_USDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International PYTH-PERP-INTX | +0.0080% | 1h | 0.06431 | +2.204% | $40K | $6K | 25x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06296 | +0.059% | $196K | $210K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06274 | −0.292% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06293 | +0.011% | $1.7M | $1.5M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06282 | −0.169% | $25K | $40K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06287 | −0.084% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06286 | −0.100% | $1.5M | $315K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06289 | −0.052% | $2.6M | $2.0M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06286 | −0.100% | — | $2.8M | — | as long as short |
| Backpack PYTH_USDC_PERPlong | +0.0100% | 1h | 0.06292 | long leg | $38K | $88K | 10x | |
| Variational Omni PYTH | +0.0100% | 4h | 0.06277 | −0.248% | $44K | $22K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06287 | −0.092% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06282 | −0.165% | — | — | 20x | as long as short |
Coinbase International PYTH-PERP-INTX
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP