Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.032%
Price spread now: Bybit against Injective+1.246%7-day average +0.261% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.151%+$15 on $10k
+Price spread, last 4 days (all we have)−0.772%−$77 · spread now +1.246%, 7d avg +0.261%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.985% dearer against Injective than usual: you sell high and buy low: +$99 more if the spread goes back to its 7-day average of +0.261%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PYTH/USDC PERP | 0.06260 | 0.0033 | pay 0.0004% / 1h | 8m 39s | $553 | $220K | 5.5x |
| Short | Bybit PYTHUSDT | 0.06338 | 0.0100 | get 0.0050% / 4h | 3h 08m | $7.5M | $4.8M | 50x |
Injective PYTH/USDC PERP
Bybit PYTHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- $14
- Price spread: +1.246% → +0.261%
- $98.52
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $101.5
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 4 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 4 min ago | 2.36 bp | 36.4 bp −$36 | 129.8 bp −$1,298 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit PYTH_USDC-PERPETUAL | −0.0224% | 1h | 0.06328 | +1.086% | $10K | $10K | 10x | as long as short |
| Backpack PYTH_USDC_PERP | −0.0105% | 1h | 0.06338 | +1.246% | $38K | $63K | 10x | as long as short |
| Gate PYTH_USDT | −0.0038% | 4h | 0.06326 | +1.054% | $1.0M | $518K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06350 | +1.434% | $189K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERPlong | +0.0033% | 1h | 0.06260 | long leg | $553 | $220K | 5.5x | |
| MEXC PYTH_USDT | +0.0036% | 4h | 0.06335 | +1.198% | $10.7M | $2.9M | 125x | as long as short |
| Binance PYTHUSDT | +0.0036% | 4h | 0.06336 | +1.214% | $9.1M | $18.4M | 75x | as long as short |
| BloFin PYTH-USDT | +0.0037% | 4h | 0.06340 | +1.278% | $426K | $77K | 75x | as long as short |
| Aevo PYTH-PERP | +0.0088% | 1h | 0.06330 | +1.118% | $23K | — | 3x | as long as short |
| Aster PYTHUSDT | +0.0092% | 4h | 0.06344 | +1.344% | $20K | $45K | 10x | as long as short |
Deribit PYTH_USDC-PERPETUAL
Backpack PYTH_USDC_PERP
Gate PYTH_USDT
dYdX PYTH-USD
MEXC PYTH_USDT
Binance PYTHUSDT
BloFin PYTH-USDT
Aevo PYTH-PERP
Aster PYTHUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter PYTH | +0.0096% | 1h | 0.06341 | +1.294% | $194K | $211K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06332 | +1.147% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06339 | +1.256% | $2.3M | $1.8M | 5x | as long as short |
| Bybit PYTHUSDTshort | +0.0100% | 4h | 0.06338 | +1.246% | $7.5M | $4.8M | 50x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06336 | +1.214% | $2.1M | $3.5M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06332 | +1.150% | $1.5M | $346K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06331 | +1.134% | $2.7M | $2.1M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06334 | +1.182% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06350 | +1.443% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06332 | +1.153% | $2K | $2K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0152% | 1h | 0.06493 | +3.722% | $40K | $19K | 25x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0300% | 1h | 0.06333 | +1.166% | $387K | $301K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06329 | +1.109% | — | — | 20x | as long as short |
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
Kraken Futures PF_PYTHUSD
Reya PYTHRUSDPERP