Funding you earn now, next payment 04:00 UTC+0.0416%/8h= +45.5% APRnext payment +$0.52 per $10,000 · paid last 24h −0.007%
Price spread now: Lighter against Backpack+0.199%54s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.185%−$19 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Lighter is 0.199% dearer against Backpack than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.185%, so the current rate has only just turned in your favour. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.185% in total (about -9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.52 per $10,000. 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 | 0.06323 | −0.0320 | get 0.0040% / 1h | 57m 19s | $37K | $50K | 10x |
| Short | Lighter PYTH | 0.06336 | 0.0096 | get 0.0012% / 1h | 57m 19s | $191K | $206K | 5x |
Backpack PYTH_USDC_PERP
Lighter PYTHFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $87.26
- Price spread: +0.199% → 0.000%
- $19.93
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $97.18
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: no order-book sample; Lighter: live order book, 48 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 Lighter live order book, 48 min ago | 3.95 bp | 11.5 bp −$11 | 78.4 bp −$784 | 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 | −0.0320% | 1h | 0.06323 | long leg | $37K | $50K | 10x | |
| Gate PYTH_USDT | −0.0198% | 4h | 0.06313 | −0.164% | $1.0M | $503K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06307 | −0.260% | $187K | $19 | 5x | as long as short |
| MEXC PYTH_USDT | +0.0014% | 4h | 0.06326 | +0.041% | $10.0M | $2.5M | 125x | as long as short |
| Aster PYTHUSDT | +0.0015% | 4h | 0.06326 | +0.047% | $20K | $43K | 10x | as long as short |
| Binance PYTHUSDT | +0.0015% | 4h | 0.06326 | +0.041% | $9.1M | $17.9M | 75x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.003% | $553 | $220K | 5.5x | as long as short |
| BloFin PYTH-USDT | +0.0060% | 4h | 0.06304 | −0.307% | $426K | $86K | 75x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06329 | +0.090% | $23K | — | 3x | as long as short |
| Lighter PYTHshort | +0.0096% | 1h | 0.06336 | +0.199% | $191K | $206K | 5x |
Gate PYTH_USDT
dYdX PYTH-USD
MEXC PYTH_USDT
Aster PYTHUSDT
Binance PYTHUSDT
Injective PYTH/USDC PERP
BloFin PYTH-USDT
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06298 | −0.395% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06329 | +0.095% | $2.0M | $1.6M | 5x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06328 | +0.073% | $7.5M | $4.7M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06330 | +0.104% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06325 | +0.025% | $1.5M | $343K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06341 | +0.278% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06322 | −0.022% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06326 | +0.044% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06326 | +0.047% | $3K | $2K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0104% | 1h | 0.06385 | +0.974% | $40K | $18K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06322 | −0.026% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0413% | 1h | 0.06338 | +0.235% | $386K | $294K | 25x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | +0.1330% | 1h | 0.06341 | +0.278% | $10K | $10K | 10x | as long as short |
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
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