Funding you earn now, next payment 23:00 UTC−0.0528%/8h= −57.8% APRpaid last 24h −0.050%
Price spread now: Injective against Bitget−0.429%51s7-day average −0.120% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.207%−$21 on $10k
+Price spread, last 3 days (all we have)−0.017%−$2 · spread now −0.429%, 7d avg −0.120%
=Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Injective is 0.309% cheaper against Bitget than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of −0.120%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.207% in total (about -10.8% 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 | Bitget PYTHUSDT | 0.06287 | 0.0100 | pay 0.0050% / 4h | 1h 24m | $2.6M | $2.0M | 75x |
| Short | Injective PYTH/USDC PERP | 0.06260 | −0.0428 | pay 0.0053% / 1h | 24m 30s | $553 | $220K | 5.5x |
Bitget PYTHUSDT
Injective PYTH/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bitget. 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
- −$110.82
- Price spread: −0.429% → −0.120%
- −$30.92
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$153.75
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Bitget: live order book, 3 min ago; Injective: 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 Bitget live order book, 3 min ago | 2.39 bp | 15.8 bp −$16 | 30.5 bp −$305 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PYTH/USDC PERPshort | −0.0428% | 1h | 0.06260 | −0.429% | $553 | $220K | 5.5x | |
| Kraken Futures PF_PYTHUSD | −0.0208% | 1h | 0.06288 | +0.017% | $382K | $252K | 25x | as long as short |
| BloFin PYTH-USDT | −0.0094% | 4h | 0.06276 | −0.175% | $420K | $114K | 75x | as long as short |
| Bybit PYTHUSDT | −0.0052% | 4h | 0.06283 | −0.064% | $7.4M | $5.1M | 50x | as long as short |
| Binance PYTHUSDT | −0.0047% | 4h | 0.06283 | −0.069% | $9.0M | $17.1M | 75x | as long as short |
| Gate PYTH_USDT | −0.0042% | 4h | 0.06281 | −0.095% | $1.1M | $479K | 75x | as long as short |
| MEXC PYTH_USDT | −0.0042% | 4h | 0.06284 | −0.048% | $9.2M | $2.3M | 125x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06289 | +0.033% | $187K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06292 | +0.080% | $10K | $10K | 10x | as long as short |
| Aevo PYTH-PERP | +0.0072% | 1h | 0.06279 | −0.122% | $22K | — | 3x | as long as short |
Kraken Futures PF_PYTHUSD
BloFin PYTH-USDT
Bybit PYTHUSDT
Binance PYTHUSDT
Gate PYTH_USDT
MEXC PYTH_USDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International PYTH-PERP-INTX | +0.0080% | 1h | 0.06431 | +2.290% | $40K | $6K | 25x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06296 | +0.143% | $196K | $210K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06286 | −0.017% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06287 | 0.000% | $1.7M | $1.5M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06283 | −0.063% | $25K | $40K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06280 | −0.111% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06289 | +0.032% | $1.5M | $314K | 50x | as long as short |
| Bitget PYTHUSDTlong | +0.0100% | 4h | 0.06287 | long leg | $2.6M | $2.0M | 75x | |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06282 | −0.080% | — | $2.8M | — | as long as short |
| Backpack PYTH_USDC_PERP | +0.0100% | 1h | 0.06292 | +0.084% | $38K | $88K | 10x | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06277 | −0.164% | $44K | $22K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06285 | −0.035% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06281 | −0.096% | — | — | 20x | as long as short |
Coinbase International PYTH-PERP-INTX
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
BingX PYTH-USDT
Backpack PYTH_USDC_PERP
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP