Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0280%/8h= +30.7% APRpaid last 24h +0.015%

Price spread now: Paradex against Gate+0.107%45s7-day average — · you sell dearer than you buy

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

Long on Gate Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Paradex is 0.107% dearer against Gate than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 45 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	Gate PYTH_USDT	0.06341	−0.0180	get 0.0090% / 4h	53m 52s	$1.0M	$503K	75x
Short	Paradex PYTH-USD-PERP	0.06348	0.0100	get 0.0100% / 8h	4h 53m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Gate. 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 GatebpFee ParadexbpOrdersPrice spread, now +0.107%Rate

Funding earned: $58.79
Price spread: +0.107% → 0.000%: $10.72
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paradex: 2 bp × 2 orders: −$4
Net: $50.51
Costs to cover: 0.190%
Break-even: 1.0 days

Slippage unknown: Gate: live order book, 3 min ago; Paradex: 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 Gate live order book, 3 min ago	3.95 bp	37.5 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Backpack PYTH_USDC_PERP	−0.0275%	1h	0.06354	+0.210%	$38K	$50K	10x	as long as short
Gate PYTH_USDTlong	−0.0180%	4h	0.06341	long leg	$1.0M	$503K	75x
dYdX PYTH-USD	0.0000%	1h	0.06350	+0.141%	$189K	$19	5x	as long as short
MEXC PYTH_USDT	+0.0018%	4h	0.06344	+0.047%	$10.1M	$2.5M	125x	as long as short
Aster PYTHUSDT	+0.0021%	4h	0.06344	+0.048%	$20K	$43K	10x	as long as short
Binance PYTHUSDT	+0.0025%	4h	0.06344	+0.043%	$9.1M	$17.9M	75x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.277%	$553	$220K	5.5x	as long as short
BloFin PYTH-USDT	+0.0077%	4h	0.06339	−0.032%	$429K	$84K	75x	as long as short
Aevo PYTH-PERP	+0.0088%	1h	0.06345	+0.063%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06354	+0.205%	$191K	$206K	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-PERPshort	+0.0100%	8h	0.06348	+0.107%	$3K	—	10x
Hyperliquid PYTH	+0.0100%	1h	0.06354	+0.211%	$2.0M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06347	+0.095%	$7.5M	$4.7M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06344	+0.047%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06348	+0.110%	$1.5M	$343K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06348	+0.110%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06346	+0.079%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06349	+0.125%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06343	+0.033%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0104%	1h	0.06385	+0.694%	$40K	$18K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06347	+0.095%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0412%	1h	0.06354	+0.199%	$387K	$294K	25x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0695%	1h	0.06357	+0.252%	$10K	$10K	10x	as long as short