Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.032%
Price spread now: Injective against Bybit−0.808%68s7-day average −0.271% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.151%−$15 on $10k
+Price spread, last 4 days (all we have)+0.486%+$49 · spread now −0.808%, 7d avg −0.271%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.538% cheaper against Bybit than usual: you would sell low and buy high (−$54 if the spread goes back to its 7-day average of −0.271%). Swap the legs. The two prices were read 68 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 | 0.06311 | 0.0100 | pay 0.0050% / 4h | 2h 44m | $7.4M | $4.8M | 50x |
| Short | Injective PYTH/USDC PERP | 0.06260 | 0.0033 | get 0.0004% / 1h | 44m 08s | $553 | $220K | 5.5x |
Bybit PYTHUSDT
Injective PYTH/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$14
- Price spread: −0.808% → −0.271%
- −$53.76
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$78.78
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 4 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 Bybit live order book, 4 min ago | 2.37 bp | 37.3 bp −$37 | 484.8 bp −$4,848 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit PYTH_USDC-PERPETUAL | −0.0541% | 1h | 0.06316 | +0.079% | $10K | $10K | 10x | as long as short |
| Backpack PYTH_USDC_PERP | −0.0431% | 1h | 0.06319 | +0.120% | $38K | $63K | 10x | as long as short |
| Gate PYTH_USDT | −0.0090% | 4h | 0.06306 | −0.079% | $1.0M | $518K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06322 | +0.172% | $188K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERPshort | +0.0033% | 1h | 0.06260 | −0.808% | $553 | $220K | 5.5x | |
| MEXC PYTH_USDT | +0.0044% | 4h | 0.06307 | −0.063% | $10.6M | $2.6M | 125x | as long as short |
| BloFin PYTH-USDT | +0.0044% | 4h | 0.06313 | +0.032% | $351K | $75K | 75x | as long as short |
| Binance PYTHUSDT | +0.0044% | 4h | 0.06307 | −0.061% | $9.0M | $18.5M | 75x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06320 | +0.143% | $193K | $206K | 5x | as long as short |
| Aevo PYTH-PERP | +0.0096% | 1h | 0.06315 | +0.063% | $23K | — | 3x | as long as short |
Deribit PYTH_USDC-PERPETUAL
Backpack PYTH_USDC_PERP
Gate PYTH_USDT
dYdX PYTH-USD
MEXC PYTH_USDT
BloFin PYTH-USDT
Binance PYTHUSDT
Lighter PYTH
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06307 | −0.058% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06319 | +0.127% | $2.3M | $1.8M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06315 | +0.069% | $20K | $45K | 10x | as long as short |
| Bybit PYTHUSDTlong | +0.0100% | 4h | 0.06311 | long leg | $7.4M | $4.8M | 50x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06308 | −0.048% | $2.1M | $3.5M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06314 | +0.048% | $1.5M | $348K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06308 | −0.048% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06309 | −0.032% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06318 | +0.117% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06311 | 0.000% | $2K | $2K | 10x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0236% | 1h | 0.06319 | +0.126% | $385K | $302K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06308 | −0.040% | — | — | 20x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0312% | 1h | 0.06493 | +2.884% | $40K | $19K | 25x | as long as short |
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Kraken Futures PF_PYTHUSD
Reya PYTHRUSDPERP
Coinbase International PYTH-PERP-INTX