Funding you earn now, next payment 00:00 UTC−0.0150%/8h= −16.5% APRnext payment −$0.75 per $10,000 · paid last 24h +0.017%
Price spread now: BloFin against Bybit−0.126%102s7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$750.754% of the position
Funding, last 7 days−0.023%−$2 on $10k
+Price spread, last 3 days (all we have)−0.110%−$11 · spread now −0.126%, 7d avg −0.057%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BloFin is 0.069% cheaper against Bybit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.057%). Swap the legs. The two prices were read 102 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PYTHUSDT | 0.06334 | 0.0019 | pay 0.0010% / 4h | 33m 29s | $7.5M | $4.8M | 50x |
| Short | BloFin PYTH-USDT | 0.06326 | −0.0131 | pay 0.0066% / 4h | 33m 29s | $422K | $114K | 75x |
Bybit PYTHUSDT
BloFin PYTH-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bybit. 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
- −$31.58
- Price spread: −0.126% → −0.057%
- −$6.95
- Slippage, 4 orders
- −$52.39
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$113.91
- Costs to cover
- 0.754%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; BloFin: live order book, 42 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 Bybit live order book, 5 min ago | 1.58 bp | 23.4 bp −$23 | 88.0 bp −$880 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 42 min ago | 0.80 bp | 21.6 bp −$22 | 37.8 bp −$378 | 117.8 bp −$11.8K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PYTHUSD | −0.0399% | 1h | 0.06328 | −0.098% | $377K | $264K | 25x | as long as short |
| Binance PYTHUSDT | −0.0133% | 4h | 0.06331 | −0.047% | $9.0M | $17.1M | 75x | as long as short |
| BloFin PYTH-USDTshort | −0.0131% | 4h | 0.06326 | −0.126% | $422K | $114K | 75x | |
| MEXC PYTH_USDT | −0.0124% | 4h | 0.06332 | −0.032% | $9.5M | $2.4M | 125x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06335 | +0.015% | $188K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06331 | −0.047% | $10K | $10K | 10x | as long as short |
| Bybit PYTHUSDTlong | +0.0019% | 4h | 0.06334 | long leg | $7.5M | $4.8M | 50x | |
| Aster PYTHUSDT | +0.0028% | 4h | 0.06334 | +0.005% | $22K | $44K | 10x | as long as short |
| Gate PYTH_USDT | +0.0032% | 4h | 0.06321 | −0.205% | $1.1M | $474K | 75x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.168% | $553 | $220K | 5.5x | as long as short |
Kraken Futures PF_PYTHUSD
Binance PYTHUSDT
MEXC PYTH_USDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
Aster PYTHUSDT
Gate PYTH_USDT
Injective PYTH/USDC PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo PYTH-PERP | +0.0048% | 1h | 0.06325 | −0.137% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06334 | 0.000% | $200K | $217K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06321 | −0.200% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06339 | +0.079% | $1.7M | $1.5M | 5x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06335 | +0.016% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06337 | +0.047% | $1.5M | $313K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06331 | −0.047% | $2.6M | $2.0M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06326 | −0.126% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06327 | −0.106% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06326 | −0.134% | $3K | $1K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0176% | 1h | 0.06328 | −0.095% | $39K | $6K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06333 | −0.020% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0503% | 1h | 0.06334 | +0.003% | $36K | $89K | 10x | as long as short |
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
Reya PYTHRUSDPERP
Backpack PYTH_USDC_PERP