Settings8H · net · $10k
Funding arb · Price arb /

PYTH

all PYTH markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Hyperliquid against BingX+0.025%7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$630.629% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days0.000%$0 on $10k
Price spread, last 7 days+0.086%+$9 · spread now +0.025%, 7d avg +0.063%
Together, before fees+0.086%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 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: Hyperliquid is 0.038% cheaper against BingX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.063%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX PYTH-USDT0.063250.0100pay 0.0050% / 4h16m 32s$2.8M
ShortHyperliquid PYTH0.063270.0100get 0.0013% / 1h16m 32s$1.7M$1.5M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Funding earned
$0
Price spread: +0.025% → +0.063%
−$3.76
Slippage, 4 orders
−$43.93
Fee BingX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$66.68
Costs to cover
0.629%
Break-even
never at this rate
Slippage from BingX: live order book, 3 min ago; Hyperliquid: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 3 min ago3.16 bp12.5 bp −$1331.0 bp −$310275.9 bp −$27.6K496.8 bp −$248.4K
Sell Hyperliquid live order book, 4 min ago1.90 bp17.8 bp −$18doesn't fitdoesn't fitdoesn't fit

PYTH on 23 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_PYTHUSD−0.0398%1h0.06330+0.086%$377K$264K25xas long as short
BloFin PYTH-USDT−0.0201%4h0.063250.000%$420K$114K75xas long as short
MEXC PYTH_USDT−0.0172%4h0.06323−0.032%$9.4M$2.4M125xas long as short
Binance PYTHUSDT−0.0172%4h0.06323−0.032%$9.0M$17.2M75xas long as short
Aster PYTHUSDT−0.0006%4h0.06333+0.126%$22K$44K10xas long as short
dYdX PYTH-USD0.0000%1h0.06334+0.144%$188K$195xas long as short
Deribit PYTH_USDC-PERPETUAL0.0000%1h0.06330+0.079%$10K$10K10xas long as short
Bybit PYTHUSDT+0.0023%4h0.06326+0.016%$7.5M$4.8M50xas long as short
Injective PYTH/USDC PERP+0.0033%1h0.06260−1.028%$553$220K5.5xas long as short
Aevo PYTH-PERP+0.0040%1h0.06330+0.071%$23K3xas long as short
Show all 23 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate PYTH_USDT+0.0056%4h0.06322−0.047%$1.1M$476K75xas long as short
Lighter PYTH+0.0096%1h0.06335+0.158%$201K$217K5xas long as short
Paradex PYTH-USD-PERP+0.0099%8h0.06323−0.028%$3K$5610xas long as short
Hyperliquid PYTHshort+0.0100%1h0.06327+0.025%$1.7M$1.5M5x
OKX PYTH-USDT-SWAP+0.0100%4h0.063250.000%$2.1M$3.4M50xas long as short
KuCoin PYTHUSDTM+0.0100%4h0.06334+0.142%$1.5M$314K50xas long as short
Bitget PYTHUSDT+0.0100%4h0.06324−0.016%$2.6M$2.0M75xas long as short
BingX PYTH-USDTlong+0.0100%4h0.06325long leg$2.8M
Variational Omni PYTH+0.0100%4h0.06321−0.069%$44K$22Kas long as short
Orderly PERP_PYTH_USDC_mythos+0.0100%4h0.06324−0.016%$3K$1K10xas long as short
Coinbase International PYTH-PERP-INTX+0.0176%1h0.06328+0.047%$39K$6K25xas long as short
Reya PYTHRUSDPERP+0.0302%1h0.06321−0.066%20xas long as short
Backpack PYTH_USDC_PERP+0.0545%1h0.06334+0.138%$36K$89K10xas long as short