Funding you earn now, next payment 22:00 UTC+0.0114%/8h= +12.5% APRnext payment +$0.14 per $10,000 · paid last 24h +0.009%
Price spread now: Backpack against Hyperliquid−0.022%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.162%+$16 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Funding pays, the price is against you. Backpack is 0.022% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 16 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PYTH | 0.06352 | 0.0100 | pay 0.0013% / 1h | 19m 54s | $1.7M | $1.5M | 5x |
| Short | Backpack PYTH_USDC_PERP | 0.06351 | 0.0214 | get 0.0027% / 1h | 19m 54s | $38K | $87K | 10x |
Hyperliquid PYTH
Backpack PYTH_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hyperliquid. 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
- $23.89
- Price spread: −0.022% → 0.000%
- −$2.2
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $2.68
- Costs to cover
- 0.190%
- Break-even
- 6.2 days
Slippage unknown: Hyperliquid: live order book, 11 min ago; 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 Hyperliquid live order book, 11 min ago | 1.02 bp | 14.6 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
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 | −0.033% | $561 | $180K | 5.5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0380% | 1h | 0.06348 | −0.065% | $10K | $10K | 10x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0216% | 1h | 0.06350 | −0.037% | $384K | $240K | 25x | as long as short |
| Gate PYTH_USDT | −0.0036% | 4h | 0.06350 | −0.033% | $1.1M | $466K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06351 | −0.023% | $189K | $19 | 5x | as long as short |
| MEXC PYTH_USDT | +0.0012% | 4h | 0.06343 | −0.143% | $9.4M | $2.4M | 125x | as long as short |
| Binance PYTHUSDT | +0.0017% | 4h | 0.06345 | −0.112% | $9.1M | $15.9M | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.242% | $40K | $6K | 25x | as long as short |
| BloFin PYTH-USDT | +0.0062% | 4h | 0.06339 | −0.206% | $423K | $117K | 75x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06340 | −0.186% | $23K | — | 3x | as long as short |
Injective PYTH/USDC PERP
Deribit PYTH_USDC-PERPETUAL
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
dYdX PYTH-USD
MEXC PYTH_USDT
Binance PYTHUSDT
Coinbase International PYTH-PERP-INTX
BloFin PYTH-USDT
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 | 0.06352 | −0.002% | $197K | $206K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06341 | −0.173% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHlong | +0.0100% | 1h | 0.06352 | long leg | $1.7M | $1.5M | 5x | |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06344 | −0.131% | $20K | $24K | 10x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06350 | −0.033% | $7.5M | $4.9M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06347 | −0.080% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06349 | −0.049% | $1.5M | $304K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06347 | −0.080% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06349 | −0.049% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06348 | −0.062% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06345 | −0.113% | $3K | $1K | 10x | as long as short |
| Backpack PYTH_USDC_PERPshort | +0.0214% | 1h | 0.06351 | −0.022% | $38K | $87K | 10x | |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06342 | −0.160% | — | — | 20x | as long as short |
Lighter PYTH
Paradex PYTH-USD-PERP
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