Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.012%
Price spread now: dYdX against Bybit+0.199%7-day average +0.085% · you sell dearer than you buy
Net, funding: paid 7d − costs−$169as in the Funding arb table
Net, price: spread back to 7d avg − costs−$143as in the Price arb table
costs, in and out, $10k−$1541.542% of the position
Funding, last 7 days−0.146%−$15 on $10k
+Price spread, last 4 days (all we have)−0.118%−$12 · spread now +0.199%, 7d avg +0.085%
=The price spread pays, funding is against you. dYdX is 0.114% dearer against Bybit than usual: you sell high and buy low (spread +0.199% now, against its 7-day average of +0.085%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.8 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PYTHUSDT | 0.06382 | 0.0100 | pay 0.0050% / 4h | 1h 17m | $7.6M | $4.7M | 50x |
| Short | dYdX PYTH-USD | 0.06395 | 0 | get 0.0000% / 1h | 17m 26s | $190K | $19 | 5x |
Bybit PYTHUSDT
dYdX PYTH-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$21
- Price spread: +0.199% → +0.085%
- $11.44
- Slippage, 4 orders
- −$133.25
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$163.81
- Costs to cover
- 1.542%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 1 min ago; dYdX: live order book, 47 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, 1 min ago | 2.35 bp | 25.0 bp −$25 | 92.7 bp −$927 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 47 min ago | 38.40 bp | 49.6 bp −$50 | 122.0 bp −$1,220 | 163.4 bp −$16.3K | 453.8 bp −$226.9K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack PYTH_USDC_PERP | −0.0363% | 1h | 0.06402 | +0.321% | $39K | $50K | 10x | as long as short |
| Gate PYTH_USDT | −0.0200% | 4h | 0.06375 | −0.110% | $1.0M | $503K | 75x | as long as short |
| BloFin PYTH-USDT | −0.0024% | 4h | 0.06371 | −0.172% | $353K | $87K | 75x | as long as short |
| dYdX PYTH-USDshort | 0.0000% | 1h | 0.06395 | +0.199% | $190K | $19 | 5x | |
| MEXC PYTH_USDT | +0.0002% | 4h | 0.06386 | +0.063% | $9.5M | $2.5M | 125x | as long as short |
| Binance PYTHUSDT | +0.0004% | 4h | 0.06380 | −0.035% | $9.2M | $17.8M | 75x | as long as short |
| Aster PYTHUSDT | +0.0026% | 4h | 0.06392 | +0.154% | $20K | $46K | 10x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.912% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06388 | +0.089% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06399 | +0.266% | $192K | $204K | 5x | as long as short |
Backpack PYTH_USDC_PERP
Gate PYTH_USDT
BloFin PYTH-USDT
MEXC PYTH_USDT
Binance PYTHUSDT
Aster PYTHUSDT
Injective PYTH/USDC PERP
Aevo PYTH-PERP
Lighter PYTHShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06382 | −0.007% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06393 | +0.171% | $2.0M | $1.7M | 5x | as long as short |
| Bybit PYTHUSDTlong | +0.0100% | 4h | 0.06382 | long leg | $7.6M | $4.7M | 50x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06381 | −0.016% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06387 | +0.078% | $1.5M | $342K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06391 | +0.141% | $2.7M | $2.1M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06390 | +0.125% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06367 | −0.238% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06388 | +0.086% | $3K | $2K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0176% | 1h | 0.06385 | +0.047% | $40K | $18K | 25x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0299% | 1h | 0.06398 | +0.251% | $390K | $291K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06385 | +0.045% | — | — | 20x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | +0.0376% | 1h | 0.06395 | +0.204% | $10K | $10K | 10x | as long as short |
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
Kraken Futures PF_PYTHUSD
Reya PYTHRUSDPERP
Deribit PYTH_USDC-PERPETUAL