Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against BingX+0.063%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days−0.125%−$12 · spread now +0.063%, 7d avg −0.015%

Together, before fees−0.128%−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.078% dearer against BingX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PYTH-USDT	0.06387	0.0100	pay 0.0050% / 4h	2h 52m	—	$2.8M	—
Short	Bitget PYTHUSDT	0.06391	0.0100	get 0.0050% / 4h	2h 52m	$2.7M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BingX. 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 BingXbpFee BitgetbpOrdersPrice spread, now +0.063%Rate

Funding earned: $0
Price spread: +0.063% → −0.015%: $7.78
Slippage, 4 orders: −$54.83
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$69.05
Costs to cover: 0.768%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; Bitget: live order book, 5 min ago.

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, 12 min ago	3.10 bp	18.7 bp −$19	40.3 bp −$403	275.2 bp −$27.5K	464.3 bp −$232.2K
Sell Bitget live order book, 5 min ago	3.93 bp	24.3 bp −$24	81.4 bp −$814	doesn't fit	doesn't fit

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	0.06388	+0.020%	$9.2M	$17.8M	75x	as long as short
MEXC PYTH_USDT	−0.0120%	4h	0.06383	−0.063%	$9.7M	$2.4M	125x	as long as short
BloFin PYTH-USDT	−0.0078%	4h	0.06334	−0.830%	$429K	$112K	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06505	+1.848%	$40K	$18K	25x	as long as short
Aster PYTHUSDT	−0.0012%	4h	0.06375	−0.194%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06376	−0.172%	$189K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.988%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0048%	1h	0.06377	−0.152%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06393	+0.094%	$191K	$204K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06392	+0.083%	$3K	—	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PYTH	+0.0100%	1h	0.06395	+0.127%	$2.0M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06393	+0.094%	$7.6M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06386	−0.016%	$2.1M	$3.4M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06380	−0.110%	$1.1M	$489K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06385	−0.031%	$1.5M	$333K	50x	as long as short
Bitget PYTHUSDTshort	+0.0100%	4h	0.06391	+0.063%	$2.7M	$2.2M	75x
BingX PYTH-USDTlong	+0.0100%	4h	0.06387	long leg	—	$2.8M	—
Variational Omni PYTH	+0.0100%	4h	0.06342	−0.712%	$38K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06372	−0.229%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06387	−0.008%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0375%	1h	0.06385	−0.030%	$392K	$291K	25x	as long as short
Backpack PYTH_USDC_PERP	+0.0567%	1h	0.06389	+0.030%	$38K	$93K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.1317%	1h	0.06391	+0.063%	$10K	$10K	10x	as long as short