Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h +0.014%

Price spread now: Gate against dYdX−0.090%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1681.684% of the position

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.090%, 7d avg −0.106%

Together, before fees+0.225%+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.106%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.166%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PYTH-USD	0.06373	0	get 0.0000% / 1h	21m 13s	$189K	$19	5x
Short	Gate PYTH_USDT	0.06367	−0.0198	pay 0.0099% / 4h	1h 21m	$1.0M	$503K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against dYdX. 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 dYdXbpFee GatebpOrdersPrice spread, now −0.090%Rate

Funding earned: −$41.58
Price spread: −0.090% → −0.106%: $1.6
Slippage, 4 orders: −$143.36
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$208.34
Costs to cover: 1.684%
Break-even: never at this rate

Slippage from dYdX: live order book, 43 min ago; Gate: live order book, 1 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 dYdX live order book, 43 min ago	38.40 bp	44.5 bp −$45	87.8 bp −$878	118.5 bp −$11.8K	659.5 bp −$329.8K
Sell Gate live order book, 1 min ago	5.50 bp	42.4 bp −$42	doesn't fit	doesn't fit	doesn't fit

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	−0.0380%	1h	0.06376	+0.056%	$39K	$50K	10x	as long as short
Gate PYTH_USDTshort	−0.0198%	4h	0.06367	−0.090%	$1.0M	$503K	75x
BloFin PYTH-USDT	−0.0013%	4h	0.06371	−0.027%	$353K	$87K	75x	as long as short
MEXC PYTH_USDT	−0.0010%	4h	0.06371	−0.027%	$9.5M	$2.5M	125x	as long as short
Binance PYTHUSDT	−0.0005%	4h	0.06372	−0.011%	$9.1M	$17.8M	75x	as long as short
dYdX PYTH-USDlong	0.0000%	1h	0.06373	long leg	$189K	$19	5x
Aster PYTHUSDT	+0.0014%	4h	0.06378	+0.077%	$20K	$46K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.769%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0080%	1h	0.06371	−0.022%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06380	+0.114%	$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	0.06372	−0.004%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06378	+0.076%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06373	+0.004%	$7.6M	$4.7M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06372	−0.011%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06377	+0.067%	$1.5M	$342K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06372	−0.011%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06375	+0.036%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06329	−0.683%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06374	+0.014%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06385	+0.193%	$40K	$18K	25x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0221%	1h	0.06374	+0.020%	$10K	$10K	10x	as long as short
Kraken Futures PF_PYTHUSD	+0.0300%	1h	0.06375	+0.039%	$389K	$291K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06371	−0.032%	—	—	20x	as long as short