Funding you earn now, next payment 04:00 UTC+0.0356%/8h= +39.0% APRpaid last 24h −0.006%
Price spread now: Bitget against Backpack−0.133%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−0.180%−$18 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Bitget is 0.133% cheaper against Backpack than usual: you would sell low and buy high (spread −0.133% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 30 hours of funding at the current rate (+$11 a day). Mind the row above: over the last 7 days funding on this pair cost −0.180%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.180% in total (about -9.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PYTH_USDC_PERP | 0.06339 | −0.0256 | get 0.0032% / 1h | 58m 42s | $38K | $50K | 10x |
| Short | Bitget PYTHUSDT | 0.06331 | 0.0100 | get 0.0050% / 4h | 58m 42s | $2.7M | $2.2M | 75x |
Backpack PYTH_USDC_PERP
Bitget PYTHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- $74.8
- Price spread: −0.133% → 0.000%
- −$13.25
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- $39.55
- Costs to cover
- 0.220%
- Break-even
- 3.3 days
Slippage unknown: Backpack: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago | 3.95 bp | 21.3 bp −$21 | 78.0 bp −$780 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack PYTH_USDC_PERPlong | −0.0256% | 1h | 0.06339 | long leg | $38K | $50K | 10x | |
| Gate PYTH_USDT | −0.0170% | 4h | 0.06325 | −0.227% | $1.0M | $503K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06333 | −0.105% | $188K | $19 | 5x | as long as short |
| BloFin PYTH-USDT | +0.0002% | 4h | 0.06331 | −0.133% | $428K | $86K | 75x | as long as short |
| MEXC PYTH_USDT | +0.0014% | 4h | 0.06328 | −0.180% | $10.1M | $2.5M | 125x | as long as short |
| Binance PYTHUSDT | +0.0015% | 4h | 0.06328 | −0.177% | $9.1M | $17.9M | 75x | as long as short |
| Aster PYTHUSDT | +0.0017% | 4h | 0.06329 | −0.162% | $20K | $43K | 10x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.252% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06335 | −0.069% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06340 | +0.009% | $191K | $206K | 5x | as long as short |
Gate PYTH_USDT
dYdX PYTH-USD
BloFin PYTH-USDT
MEXC PYTH_USDT
Binance PYTHUSDT
Aster PYTHUSDT
Injective PYTH/USDC PERP
Aevo PYTH-PERP
Lighter PYTHShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06327 | −0.198% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06338 | −0.028% | $2.0M | $1.6M | 5x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06330 | −0.148% | $7.5M | $4.7M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06329 | −0.164% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06337 | −0.038% | $1.5M | $343K | 50x | as long as short |
| Bitget PYTHUSDTshort | +0.0100% | 4h | 0.06331 | −0.133% | $2.7M | $2.2M | 75x | |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06330 | −0.148% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06326 | −0.208% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06330 | −0.148% | $3K | $2K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0104% | 1h | 0.06385 | +0.719% | $40K | $18K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06320 | −0.307% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0413% | 1h | 0.06338 | −0.026% | $386K | $294K | 25x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | +0.0539% | 1h | 0.06346 | +0.104% | $10K | $10K | 10x | as long as short |
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD
Deribit PYTH_USDC-PERPETUAL