PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.2% APRnext payment −$1.20 per $10,000 · paid last 24h −0.010%

Price spread now: Binance against KuCoin−0.142%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$222as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2122.125% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 7 days+0.043%+$4 · spread now −0.142%, 7d avg −0.068%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 0.074% cheaper against KuCoin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.068%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.091% in total (about -4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.20 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PYTHUSDTM	0.06333	0.0100	pay 0.0050% / 4h	29m 49s	$1.5M	$313K	50x
Short	Binance PYTHUSDT	0.06324	−0.0140	pay 0.0070% / 4h	29m 49s	$9.0M	$17.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now −0.142%Rate

Funding earned: −$50.34
Price spread: −0.142% → −0.068%: −$7.44
Slippage, 4 orders: −$190.48
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$270.26
Costs to cover: 2.125%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Binance: live order book, 11 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 KuCoin live order book, 6 min ago	7.11 bp	79.9 bp −$80	798.5 bp −$7,985	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.79 bp	13.3 bp −$13	43.9 bp −$439	312.0 bp −$31.2K	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
Kraken Futures PF_PYTHUSD	−0.0399%	1h	0.06328	−0.080%	$377K	$264K	25x	as long as short
BloFin PYTH-USDT	−0.0198%	4h	0.06329	−0.063%	$421K	$114K	75x	as long as short
Binance PYTHUSDTshort	−0.0140%	4h	0.06324	−0.142%	$9.0M	$17.1M	75x
MEXC PYTH_USDT	−0.0138%	4h	0.06320	−0.205%	$9.5M	$2.4M	125x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0066%	1h	0.06329	−0.063%	$10K	$10K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06335	+0.030%	$188K	$19	5x	as long as short
Bybit PYTHUSDT	+0.0006%	4h	0.06331	−0.032%	$7.5M	$4.8M	50x	as long as short
Aster PYTHUSDT	+0.0022%	4h	0.06333	+0.002%	$22K	$44K	10x	as long as short
Gate PYTH_USDT	+0.0028%	4h	0.06319	−0.221%	$1.1M	$474K	75x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.153%	$553	$220K	5.5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PYTH-PERP	+0.0048%	1h	0.06326	−0.107%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06331	−0.032%	$200K	$217K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06320	−0.213%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06328	−0.071%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06327	−0.095%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTMlong	+0.0100%	4h	0.06333	long leg	$1.5M	$313K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06326	−0.111%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06326	−0.111%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06331	−0.027%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06325	−0.131%	$3K	$1K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06328	−0.079%	$39K	$6K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06324	−0.146%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0528%	1h	0.06331	−0.028%	$36K	$89K	10x	as long as short