Funding you earn now, next payment 22:00 UTC+0.0437%/8h= +47.9% APRnext payment +$0.55 per $10,000 · paid last 24h +0.033%
Price spread now: Backpack against Deribit+0.043%50s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Backpack is 0.043% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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 | Deribit PYTH_USDC-PERPETUAL | 0.06349 | −0.0222 | get 0.0028% / 1h | 18m 20s | $10K | $10K | 10x |
| Short | Backpack PYTH_USDC_PERP | 0.06352 | 0.0215 | get 0.0027% / 1h | 18m 20s | $38K | $87K | 10x |
Deribit PYTH_USDC-PERPETUAL
Backpack PYTH_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- $91.83
- Price spread: +0.043% → 0.000%
- $4.25
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $79.08
- Costs to cover
- 0.170%
- Break-even
- 1.0 days
Slippage unknown: Deribit: no order-book sample; Backpack: 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Backpack no order-book sample | — | — | — | — | — |
Deribit and Backpack: 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PYTH/USDC PERP | −0.0586% | 1h | 0.06350 | +0.016% | $561 | $180K | 5.5x | as long as short |
| Deribit PYTH_USDC-PERPETUALlong | −0.0222% | 1h | 0.06349 | long leg | $10K | $10K | 10x | |
| Kraken Futures PF_PYTHUSD | −0.0216% | 1h | 0.06352 | +0.045% | $384K | $240K | 25x | as long as short |
| Gate PYTH_USDT | −0.0032% | 4h | 0.06349 | 0.000% | $1.1M | $466K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06351 | +0.025% | $189K | $19 | 5x | as long as short |
| MEXC PYTH_USDT | +0.0016% | 4h | 0.06341 | −0.126% | $9.4M | $2.4M | 125x | as long as short |
| Binance PYTHUSDT | +0.0020% | 4h | 0.06341 | −0.126% | $9.1M | $15.9M | 75x | as long as short |
| BloFin PYTH-USDT | +0.0022% | 4h | 0.06339 | −0.158% | $423K | $117K | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.292% | $40K | $6K | 25x | as long as short |
| Aevo PYTH-PERP | +0.0088% | 1h | 0.06342 | −0.107% | $23K | — | 3x | as long as short |
Injective PYTH/USDC PERP
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
dYdX PYTH-USD
MEXC PYTH_USDT
Binance PYTHUSDT
BloFin PYTH-USDT
Coinbase International PYTH-PERP-INTX
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter PYTH | +0.0096% | 1h | 0.06351 | +0.032% | $197K | $206K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06339 | −0.161% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06349 | +0.006% | $1.7M | $1.5M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06340 | −0.136% | $20K | $24K | 10x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06346 | −0.047% | $7.5M | $4.9M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06344 | −0.079% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06347 | −0.032% | $1.5M | $304K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06345 | −0.063% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06344 | −0.079% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06348 | −0.013% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06345 | −0.066% | $3K | $1K | 10x | as long as short |
| Backpack PYTH_USDC_PERPshort | +0.0215% | 1h | 0.06352 | +0.043% | $38K | $87K | 10x | |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06344 | −0.078% | — | — | 20x | as long as short |
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP