Funding arb · Price arb /

PYTH

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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: KuCoin against Bitget−0.016%7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$235as in the Funding arb table

Net, price: spread back to 7d avg − costs−$242as in the Price arb table

costs, in and out, $10k−$2352.355% of the position

Long on Bitget Short on KuCoin

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+0.132%+$13 · spread now −0.016%, 7d avg +0.053%

Together, before fees+0.136%+$14 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: KuCoin is 0.069% cheaper against Bitget than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PYTHUSDT	0.06361	0.0100	pay 0.0050% / 4h	3h 43m	$2.6M	$2.1M	75x
Short	KuCoin PYTHUSDTM	0.06360	0.0100	get 0.0050% / 4h	3h 43m	$1.5M	$325K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bitget. 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 BitgetbpFee KuCoinbpOrdersPrice spread, now −0.016%Rate

Funding earned: $0
Price spread: −0.016% → +0.053%: −$6.85
Slippage, 4 orders: −$211.49
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$242.34
Costs to cover: 2.355%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; KuCoin: live order book, 3 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 Bitget live order book, 4 min ago	3.93 bp	18.7 bp −$19	44.7 bp −$447	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	12.58 bp	70.0 bp −$70	627.6 bp −$6,276	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	−0.0179%	4h	0.06358	−0.048%	$9.2M	$17.6M	75x	as long as short
MEXC PYTH_USDT	−0.0178%	4h	0.06357	−0.063%	$9.7M	$2.4M	125x	as long as short
BloFin PYTH-USDT	−0.0156%	4h	0.06354	−0.110%	$426K	$113K	75x	as long as short
Kraken Futures PF_PYTHUSD	−0.0136%	1h	0.06368	+0.118%	$390K	$289K	25x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06368	+0.110%	$40K	$18K	25x	as long as short
Aster PYTHUSDT	−0.0012%	4h	0.06355	−0.099%	$22K	$44K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06353	−0.125%	$189K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.588%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0040%	1h	0.06365	+0.063%	$23K	—	3x	as long as short
Bybit PYTHUSDT	+0.0069%	4h	0.06361	0.000%	$7.6M	$4.8M	50x	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	0.06370	+0.141%	$201K	$198K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06348	−0.197%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06366	+0.079%	$1.9M	$1.6M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06358	−0.047%	$2.1M	$3.4M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06352	−0.141%	$1.1M	$468K	75x	as long as short
KuCoin PYTHUSDTMshort	+0.0100%	4h	0.06360	−0.016%	$1.5M	$325K	50x
Bitget PYTHUSDTlong	+0.0100%	4h	0.06361	long leg	$2.6M	$2.1M	75x
BingX PYTH-USDT	+0.0100%	4h	0.06357	−0.063%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06358	−0.047%	$38K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06356	−0.082%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06357	−0.058%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0853%	1h	0.06348	−0.201%	$35K	$92K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.1947%	1h	0.06384	+0.362%	$10K	$10K	10x	as long as short