Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0719%/8h= −78.8% APRpaid last 24h −0.014%

Price spread now: Deribit against Binance+0.079%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.079% dearer against Binance than usual: you sell high and buy low (spread +0.079% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PYTHUSDT	0.06331	0.0023	pay 0.0012% / 4h	2h 16m	$9.1M	$16.0M	75x
Short	Deribit PYTH_USDC-PERPETUAL	0.06336	−0.0696	pay 0.0087% / 1h	16m 25s	$10K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee DeribitbpOrdersPrice spread, now +0.079%Rate

Funding earned: −$151.09
Price spread: +0.079% → 0.000%: $7.9
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$160.2
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 9 min ago; Deribit: no order-book sample. 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 Binance live order book, 9 min ago	0.79 bp	14.8 bp −$15	43.6 bp −$436	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Deribit PYTH_USDC-PERPETUALshort	−0.0696%	1h	0.06336	+0.079%	$10K	$10K	10x
Injective PYTH/USDC PERP	−0.0586%	1h	0.06350	+0.300%	$561	$180K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0216%	1h	0.06339	+0.132%	$384K	$240K	25x	as long as short
Gate PYTH_USDT	−0.0020%	4h	0.06337	+0.095%	$1.1M	$466K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06351	+0.310%	$189K	$19	5x	as long as short
BloFin PYTH-USDT	+0.0013%	4h	0.06338	+0.111%	$423K	$117K	75x	as long as short
MEXC PYTH_USDT	+0.0022%	4h	0.06337	+0.095%	$9.4M	$2.4M	125x	as long as short
Binance PYTHUSDTlong	+0.0023%	4h	0.06331	long leg	$9.1M	$16.0M	75x
Coinbase International PYTH-PERP-INTX	+0.0048%	1h	0.06431	+1.580%	$40K	$6K	25x	as long as short
Aevo PYTH-PERP	+0.0088%	1h	0.06330	−0.009%	$23K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PYTH	+0.0096%	1h	0.06349	+0.284%	$196K	$206K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06337	+0.093%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06345	+0.221%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06339	+0.134%	$20K	$24K	10x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06336	+0.079%	$7.4M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06332	+0.016%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06341	+0.158%	$1.5M	$304K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06340	+0.142%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06334	+0.047%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06348	+0.271%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06335	+0.060%	$3K	$1K	10x	as long as short
Backpack PYTH_USDC_PERP	+0.0215%	1h	0.06348	+0.261%	$38K	$87K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06333	+0.031%	—	—	20x	as long as short