PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0033%/8h= +3.6% APRnext payment +$0.04 per $10,000 · paid last 24h −0.031%

Price spread now: Injective against Deribit−1.137%63s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. Injective is 1.137% cheaper against Deribit than usual: you would sell low and buy high (spread −1.137% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$114 on $10k: about 4 months of funding at the current rate (+$1 a day). The two prices were read 63 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	0.06332	0	get 0.0000% / 1h	35m 24s	$10K	$10K	10x
Short	Injective PYTH/USDC PERP	0.06260	0.0033	get 0.0004% / 1h	35m 24s	$553	$220K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Deribit. 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 DeribitbpFee InjectivebpOrdersPrice spread, now −1.137%Rate

Funding earned: $7
Price spread: −1.137% → 0.000%: −$113.71
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$113.73
Costs to cover: 0.070%
Break-even: 120.7 days

Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Deribit and 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
Kraken Futures PF_PYTHUSD	−0.0398%	1h	0.06332	−0.002%	$377K	$264K	25x	as long as short
Binance PYTHUSDT	−0.0126%	4h	0.06325	−0.106%	$9.0M	$17.1M	75x	as long as short
MEXC PYTH_USDT	−0.0118%	4h	0.06322	−0.158%	$9.5M	$2.3M	125x	as long as short
BloFin PYTH-USDT	−0.0114%	4h	0.06324	−0.126%	$422K	$115K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06335	+0.046%	$188K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUALlong	0.0000%	1h	0.06332	long leg	$10K	$10K	10x
Bybit PYTHUSDT	+0.0014%	4h	0.06328	−0.063%	$7.5M	$4.8M	50x	as long as short
Gate PYTH_USDT	+0.0032%	4h	0.06322	−0.158%	$1.1M	$474K	75x	as long as short
Aster PYTHUSDT	+0.0033%	4h	0.06337	+0.077%	$22K	$44K	10x	as long as short
Injective PYTH/USDC PERPshort	+0.0033%	1h	0.06260	−1.137%	$553	$220K	5.5x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PYTH-PERP	+0.0048%	1h	0.06329	−0.046%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06334	+0.032%	$200K	$217K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06321	−0.178%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06332	+0.006%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06328	−0.063%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06332	0.000%	$1.5M	$313K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06325	−0.111%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06328	−0.063%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06327	−0.075%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06328	−0.066%	$3K	$1K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06328	−0.063%	$39K	$6K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06324	−0.119%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0510%	1h	0.06328	−0.063%	$36K	$89K	10x	as long as short