Funding you earn now, next payment 02:00 UTC+0.0431%/8h= +47.2% APRpaid last 24h +0.005%
Price spread now: Backpack against BingX−0.141%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+0.178%+$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. Backpack is 0.141% cheaper against BingX than usual: you would sell low and buy high (spread −0.141% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 26 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.178% in total) that is about 5.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.178% in total (about 9.3% 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 | BingX PYTH-USDT | 0.06370 | 0.0100 | pay 0.0050% / 4h | 2h 53m | — | $2.8M | — |
| Short | Backpack PYTH_USDC_PERP | 0.06361 | 0.0531 | get 0.0066% / 1h | 53m 12s | $38K | $93K | 10x |
BingX PYTH-USDT
Backpack PYTH_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against BingX. 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
- $90.61
- Price spread: −0.141% → 0.000%
- −$14.13
- Slippage, 4 orders
- no order book: not counted
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $56.48
- Costs to cover
- 0.200%
- Break-even
- 2.6 days
Slippage unknown: BingX: live order book, 11 min ago; Backpack: 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 BingX live order book, 11 min ago | 3.10 bp | 18.7 bp −$19 | 40.3 bp −$403 | 275.2 bp −$27.5K | 464.3 bp −$232.2K |
| Sell Backpack no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| Binance PYTHUSDT | −0.0121% | 4h | 0.06378 | +0.126% | $9.2M | $17.8M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0120% | 4h | 0.06376 | +0.094% | $9.6M | $2.4M | 125x | as long as short |
| BloFin PYTH-USDT | −0.0078% | 4h | 0.06334 | −0.565% | $429K | $112K | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | −0.0064% | 1h | 0.06505 | +2.119% | $40K | $18K | 25x | as long as short |
| Aster PYTHUSDT | −0.0018% | 4h | 0.06356 | −0.227% | $20K | $46K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06362 | −0.126% | $189K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.727% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0048% | 1h | 0.06377 | +0.115% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06385 | +0.235% | $191K | $204K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06360 | −0.155% | $3K | — | 10x | as long as short |
Binance PYTHUSDT
MEXC PYTH_USDT
BloFin PYTH-USDT
Coinbase International PYTH-PERP-INTX
Aster PYTHUSDT
dYdX PYTH-USD
Injective PYTH/USDC PERP
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PYTH | +0.0100% | 1h | 0.06375 | +0.085% | $2.0M | $1.6M | 5x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06381 | +0.173% | $7.6M | $4.9M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06379 | +0.141% | $2.1M | $3.4M | 50x | as long as short |
| Gate PYTH_USDT | +0.0100% | 4h | 0.06366 | −0.063% | $1.1M | $489K | 75x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06371 | +0.016% | $1.5M | $333K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06378 | +0.126% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDTlong | +0.0100% | 4h | 0.06370 | long leg | — | $2.8M | — | |
| Variational Omni PYTH | +0.0100% | 4h | 0.06342 | −0.447% | $38K | $27K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06372 | +0.038% | $3K | $2K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06371 | +0.016% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0375% | 1h | 0.06385 | +0.237% | $392K | $291K | 25x | as long as short |
| Backpack PYTH_USDC_PERPshort | +0.0531% | 1h | 0.06361 | −0.141% | $38K | $93K | 10x | |
| Deribit PYTH_USDC-PERPETUAL | +0.1317% | 1h | 0.06391 | +0.330% | $10K | $10K | 10x | as long as short |
Hyperliquid PYTH
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
Gate PYTH_USDT
KuCoin PYTHUSDTM
Bitget PYTHUSDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD
Deribit PYTH_USDC-PERPETUAL