PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0098%/8h= −10.7% APRnext payment −$0.49 per $10,000 · paid last 24h −0.007%

Price spread now: MEXC against Bybit−0.016%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$850.849% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days+0.001%$0 · spread now −0.016%, 7d avg −0.044%

Together, before fees−0.040%−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.028% dearer against Bybit than usual: you sell high and buy low (spread −0.016% now, against its 7-day average of −0.044%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.040% in total) that is about 4.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PYTHUSDT	0.06387	0.0100	pay 0.0050% / 4h	1h 17m	$7.6M	$4.7M	50x
Short	MEXC PYTH_USDT	0.06386	0.0002	get 0.0001% / 4h	1h 17m	$9.5M	$2.5M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$20.58
Price spread: −0.016% → −0.044%: $2.81
Slippage, 4 orders: −$73.87
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: −$102.64
Costs to cover: 0.849%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; MEXC: live order book, 5 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	1.57 bp	36.2 bp −$36	91.3 bp −$913	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.57 bp	4.9 bp −$5	35.0 bp −$350	96.5 bp −$9,646	189.5 bp −$94.7K

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	+0.243%	$39K	$50K	10x	as long as short
Gate PYTH_USDT	−0.0200%	4h	0.06375	−0.188%	$1.0M	$503K	75x	as long as short
BloFin PYTH-USDT	−0.0024%	4h	0.06371	−0.251%	$353K	$87K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06395	+0.121%	$190K	$19	5x	as long as short
MEXC PYTH_USDTshort	+0.0002%	4h	0.06386	−0.016%	$9.5M	$2.5M	125x
Binance PYTHUSDT	+0.0004%	4h	0.06387	+0.004%	$9.2M	$17.8M	75x	as long as short
Aster PYTHUSDT	+0.0026%	4h	0.06395	+0.126%	$20K	$46K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.988%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0080%	1h	0.06388	+0.011%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06399	+0.188%	$192K	$204K	5x	as long as short

Show 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	−0.085%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06396	+0.136%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDTlong	+0.0100%	4h	0.06387	long leg	$7.6M	$4.7M	50x
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06382	−0.078%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06392	+0.078%	$1.5M	$342K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06387	0.000%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06381	−0.094%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06367	−0.316%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06388	+0.008%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06385	−0.031%	$40K	$18K	25x	as long as short
Kraken Futures PF_PYTHUSD	+0.0299%	1h	0.06398	+0.172%	$390K	$291K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06391	+0.065%	—	—	20x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0376%	1h	0.06395	+0.125%	$10K	$10K	10x	as long as short