Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.024%

Price spread now: Paradex against Binance−0.213%48s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.213% cheaper against Binance than usual: you would sell low and buy high (spread −0.213% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 7.4 days of funding at the current rate (+$3 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PYTHUSDT	0.06395	0.0004	pay 0.0002% / 4h	1h 16m	$9.2M	$17.8M	75x
Short	Paradex PYTH-USD-PERP	0.06382	0.0100	get 0.0100% / 8h	5h 16m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.213%Rate

Funding earned: $20.2
Price spread: −0.213% → 0.000%: −$21.31
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$15.11
Costs to cover: 0.140%
Break-even: 12.2 days

Slippage unknown: Binance: live order book, 9 min ago; Paradex: 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	14.3 bp −$14	32.2 bp −$322	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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_PERP	−0.0353%	1h	0.06402	+0.111%	$39K	$50K	10x	as long as short
Gate PYTH_USDT	−0.0200%	4h	0.06385	−0.160%	$1.0M	$503K	75x	as long as short
BloFin PYTH-USDT	−0.0032%	4h	0.06377	−0.285%	$354K	$87K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06395	−0.008%	$190K	$19	5x	as long as short
MEXC PYTH_USDT	+0.0002%	4h	0.06396	+0.012%	$9.5M	$2.5M	125x	as long as short
Binance PYTHUSDTlong	+0.0004%	4h	0.06395	long leg	$9.2M	$17.8M	75x
Aster PYTHUSDT	+0.0026%	4h	0.06388	−0.108%	$20K	$46K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−2.114%	$553	$220K	5.5x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0062%	1h	0.06403	+0.122%	$10K	$10K	10x	as long as short
Aevo PYTH-PERP	+0.0080%	1h	0.06395	−0.003%	$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	0.06401	+0.091%	$192K	$204K	5x	as long as short
Paradex PYTH-USD-PERPshort	+0.0100%	8h	0.06382	−0.213%	$3K	—	10x
Hyperliquid PYTH	+0.0100%	1h	0.06404	+0.131%	$2.1M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06395	−0.003%	$7.6M	$4.7M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06390	−0.081%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06395	−0.003%	$1.5M	$342K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06397	+0.028%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06393	−0.034%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06367	−0.444%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06391	−0.066%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06385	−0.160%	$40K	$18K	25x	as long as short
Kraken Futures PF_PYTHUSD	+0.0299%	1h	0.06399	+0.052%	$390K	$291K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06385	−0.162%	—	—	20x	as long as short